News
Beech Street Corporation's Financial Services Network Continues to Grow
About Beech Street Corporation
Beech Street Corporation has over 50 years of reliable service in the healthcare industry and has a network of over 380,000 respected doctors, 3,500 hospitals and over 50,000 ancillary network providers.
Beech Street provides services such as nationwide primary and secondary network access, URAC accredited and NCQA certified healthcare management services, disease management services, healthcare financial services, out-of-network cost containment solutions, and a Workers' Compensation program.
More information about Beech Street can be found at www.beechstreet.com.
Third Round of Interest Payment Checks Distributed
October 14, 2004.
Beech Street Corporation, the nation's leading independently owned Preferred Provider Organization (PPO), announced today that interest payment checks totaling more than $130,000 have been dispersed to participating healthcare providers in conjunction with Beech Street's financial services product, the Accelerated Payment Program.
This program is made possible through a partnership with Federal Medical (FedMed), a national healthcare financial services organization that develops products and services for the healthcare provider community together with large payors of healthcare services. The program allows Beech Street to offer participating healthcare providers invaluable timely payment on medical claims.
The Accelerated Payment Program offers providers measurable financial benefits:
• Timely and accurate claims payment – Most participating providers' claims are paid within 30 days from the date of service, giving the provider greater control and flexibility in managing cash flow.
• Interest Payments – Participating providers receive interest payments on claims at the rate of 5.1% per annum from the date of service until the claim payment date.
• Insolvency Protection – Participating providers are protected should a payor become insolvent after verifying benefits.
• Investment Opportunities – Participating providers are eligible to participate in exclusive financial instruments that deliver above-market returns.
• Bed Day Program – Select facilities are eligible to participate in our Bed Day Program, which guarantees utilization levels.
This program exceeds the value traditionally promised by PPOs and exemplifies how Beech Street continues to be an innovative leader in the PPO industry.
The majority of our providers are already participating in this
program. If you're not, and would like the opportunity to receive
an interest check next quarter, please call
(800) 97-BEECH to secure your participation in this valuable
program.
