Commonwealth Bank unveils exclusive tie-up with Whitecoat

Commonwealth Bank unveils exclusive tie-up with Whitecoat | Insurance Business

Commonwealth Bank unveils exclusive tie-up with Whitecoat

Commonwealth Bank, in an exclusive partnership, has tapped medical technology provider Whitecoat to roll out a new product offering for patients and healthcare providers in 2019. 

Called “CommBank Health Claim,” the integrated payments, claiming, and healthcare directory platform is described as best-in-class. It is currently in its pilot phase.

Combining accessible app-based architecture with wireless connectivity to CBA’s Albert merchant terminals, the tool will allow patients to approve payments and provider-initiated claims, book appointments, and request cost estimates through their mobile devices. The app will also enable users to save their private health insurance details.

Healthcare providers, meanwhile, will have access to daily settlements as well as enhanced reporting and reconciliation capabilities. In addition, Medicare and private health insurance claims will be processed in real-time.

“The complex nature of the healthcare sector has led to the opportunity to create solutions that better meet the needs of both patients and healthcare providers alike,” said CBA business & private banking group executive Adam Bennett.

“Developing CommBank Health Claim with Whitecoat allows CBA to deliver market-leading capabilities to a vital industry sector – it helps patients make informed decisions when they need a medical health service, and significantly simplifies the claiming and payment process to make it a one-touch, Uber-like user experience.”

Albert Naffah, CBA general manager for payments development & strategy, believes the offering is a game-changer as “never before have patients and business owners had access to an integrated, user-friendly product via a single platform.”