Tech-Powered Innovation Transforms Member Experiences and Earns HealthEquity Industry Recognition
HealthEquity (NASDAQ: HQY), the largest HSA custodian in the US, has received industry recognition for its Expedited Claims tool from the Best in Biz Awards and Brandon Hall Excellence in Technology Awards. The AI-powered solution, released to approximately 1.1M members in 2024, has shown significant improvements in claims processing efficiency.
The tool has achieved a 66% reduction in claims processing time and an 18% increase in member satisfaction compared to traditional methods. Claims processing time has been reduced from approximately two business days to under two minutes for over 60% of claims. The system automates receipt processing, categorizes items, and efficiently handles variables like discounts and taxes, resulting in fewer errors and faster reimbursements.
HealthEquity (NASDAQ: HQY), il più grande custode HSA negli Stati Uniti, ha ricevuto riconoscimenti nel settore per il suo Strumento di Richiesta Accelerata dai Best in Biz Awards e dai Brandon Hall Excellence in Technology Awards. La soluzione alimentata da AI, rilasciata a circa 1,1 milioni di membri nel 2024, ha mostrato significativi miglioramenti nell'efficienza del processo di richiesta.
Lo strumento ha ottenuto una riduzione del 66% del tempo di elaborazione delle richieste e un aumento del 18% della soddisfazione dei membri rispetto ai metodi tradizionali. Il tempo di elaborazione delle richieste è stato ridotto da circa due giorni lavorativi a meno di due minuti per oltre il 60% delle richieste. Il sistema automatizza l'elaborazione delle ricevute, categorizza gli articoli e gestisce in modo efficiente variabili come sconti e tasse, risultando in meno errori e rimborsi più rapidi.
HealthEquity (NASDAQ: HQY), el mayor custodio de HSA en los EE. UU., ha recibido reconocimiento en la industria por su Herramienta de Reclamaciones Aceleradas de los Best in Biz Awards y los Brandon Hall Excellence in Technology Awards. La solución impulsada por IA, lanzada a aproximadamente 1.1 millones de miembros en 2024, ha mostrado mejoras significativas en la eficiencia del procesamiento de reclamaciones.
La herramienta ha logrado una reducción del 66% en el tiempo de procesamiento de reclamaciones y un aumento del 18% en la satisfacción de los miembros en comparación con los métodos tradicionales. El tiempo de procesamiento de reclamaciones se ha reducido de aproximadamente dos días hábiles a menos de dos minutos para más del 60% de las reclamaciones. El sistema automatiza el procesamiento de recibos, categoriza artículos y maneja variables como descuentos e impuestos de manera eficiente, lo que resulta en menos errores y reembolsos más rápidos.
HealthEquity (NASDAQ: HQY), 미국 최대 HSA 수탁자, 신속 청구 도구로 Best in Biz Awards와 Brandon Hall Excellence in Technology Awards에서 업계 인정받았습니다. 2024년에 약 110만 회원에게 출시된 이 AI 기반 솔루션은 청구 처리 효율성에서 상당한 개선을 보여주었습니다.
이 도구는 전통적인 방법에 비해 청구 처리 시간 66% 단축과 회원 만족도 18% 증가를 달성했습니다. 청구 처리 시간이 약 이틀에서 60% 이상의 청구에 대해 2분 이내로 단축되었습니다. 시스템은 영수증 처리를 자동화하고, 항목을 분류하며, 할인 및 세금과 같은 변수를 효율적으로 처리하여 오류를 줄이고 더 빠른 환급을 제공합니다.
HealthEquity (NASDAQ: HQY), le plus grand dépositaire HSA aux États-Unis, a reçu une reconnaissance du secteur pour son Outil de Traitement Accéléré des Requêtes lors des Best in Biz Awards et des Brandon Hall Excellence in Technology Awards. La solution alimentée par IA, lancée en 2024 pour environ 1,1 million de membres, a montré d'importantes améliorations dans l'efficacité du traitement des requêtes.
L'outil a permis une réduction de 66 % du temps de traitement des requêtes et une augmentation de 18 % de la satisfaction des membres par rapport aux méthodes traditionnelles. Le temps de traitement des requêtes a été réduit d'environ deux jours ouvrables à moins de deux minutes pour plus de 60 % des requêtes. Le système automatise le traitement des reçus, catégorise les articles et gère efficacement des variables telles que les remises et les taxes, entraînant moins d'erreurs et des remboursements plus rapides.
HealthEquity (NASDAQ: HQY), der größte HSA-Verwalter in den USA, hat für sein Beschleunigtes Schadensmeldetool Anerkennung in der Branche erhalten, sowohl bei den Best in Biz Awards als auch bei den Brandon Hall Excellence in Technology Awards. Die KI-gestützte Lösung, die 2024 für rund 1,1 Millionen Mitglieder veröffentlicht wurde, hat erhebliche Verbesserungen in der Effizienz der Schadensbearbeitung gezeigt.
Das Tool hat eine Reduzierung der Bearbeitungszeit um 66% und einen Anstieg der Mitgliederzufriedenheit um 18% im Vergleich zu traditionellen Methoden erreicht. Die Bearbeitungszeit für Schadensmeldungen wurde von etwa zwei Arbeitstagen auf weniger als zwei Minuten für über 60% der Meldungen verkürzt. Das System automatisiert die Verarbeitung von Belegen, kategorisiert Artikel und bearbeitet Variablen wie Rabatte und Steuern effizient, was zu weniger Fehlern und schnelleren Rückerstattungen führt.
- 66% reduction in claims processing time
- 18% increase in member satisfaction
- Successful implementation with 1.1M members in 2024
- Processing time reduced from 2 days to under 2 minutes for 60% of claims
- Multiple industry awards recognition for technological innovation
- release to only portion of customer base
Awards acknowledge innovative approach that shows promise in making benefits simpler and faster to navigate
DRAPER, Utah, Jan. 28, 2025 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY), the nation’s largest health savings account (HSA) custodian, has been recognized by two industry awards programs for its Expedited Claims tool. Both the Best in Biz Awards and the Brandon Hall Excellence in Technology Awards have honored the time-saving solution, further underscoring HealthEquity’s commitment to simplifying healthcare benefits and empowering members to better manage their health and financial well-being.
Expedited Claims is a member-first solution designed by HealthEquity to streamline the receipt upload process, significantly reducing manual errors, and saving members time spent managing claims. In a limited release to approximately 1.1M members in 2024, the claims innovation has reduced time spent on claims by approximately 66 percent while increasing member satisfaction by 18 percent compared to traditional claims processes. It also yielded greater efficiency for health plan partners, reducing the need for clarifications and inquiries.
By leveraging cutting-edge AI technology, the tool automates user receipt processing, categorizes items, and efficiently sorts variables such as discounts and taxes. This member-centric approach has reduced errors relating to calculating sales tax, discount details and accurately classifying expenses that led to frequent mistakes and delayed or denied claims. Expedited Claims reduced user claim errors in its limited release enabling faster and more accurate claims processing. It also shortened the claims filing process for more than
“At HealthEquity, we're dedicated to helping improve people’s experience with benefits by using technology that streamlines and improves pain points in their healthcare journeys,” said Bryan Rhodes. “These awards reflect our dedication to creating meaningful solutions that ease the complexities of healthcare benefits for our members and clients so they can focus on what matters most — their health and peace of mind.”
HealthEquity earned the following awards from the two organizations:
Best in Biz Awards
- Gold: Most Innovative Product Feature of the Year
- Silver: Most Innovative App of the Year
- Bronze: Best New Product of the Year – Healthcare Industry
Brandon Hall Excellence in Technology Award
- Gold: Best Advance in AI Business Impact
By actively incorporating feedback and harnessing cutting-edge technology, HealthEquity continues to drive innovation, empowering individuals to manage their health savings effectively.
About HealthEquity
HealthEquity and its subsidiaries administer HSAs and various other consumer-directed benefits for over 16 million accounts, working in close partnership with employers, benefits advisors, and health and retirement plan providers. With a commitment to saving and improving lives, HealthEquity empowers individuals to take control of their healthcare journey through cutting-edge solutions, innovation, and a relentless focus on well-being. Learn more about HealthEquity’s “Purple service” and our approach to consumer-driven benefits at www.healthequity.com.
Media Contact
Amy Cerny
801-508-3237
acerny@healthequity.com
FAQ
What improvements has HQY's Expedited Claims tool shown in 2024?
How many members have access to HQY's new Expedited Claims tool?
What awards did HealthEquity (HQY) receive for its Expedited Claims tool?
How does HQY's Expedited Claims tool improve the claims process?
