We’re excited to announce that HealthPoint Claims is progressively implementing faster payments using the New Payments Platform (NPP). This upgrade brings real-time settlement for eligible claims, delivering faster payments and improved efficiency for health practitioners.
Benefits for Customers
- Powering a Digital Economy (with 5-Day Payment Processing):
Supports an evolving digital economy by enabling fast, versatile, and data-rich payments — while continuing to process settlements five days a week. - Real-Time Clearing and Settlement:
Provides instant clearing and settlement for both simple and complex payment solutions – while continuing to process settlements on business days. - Faster Access to Funds:
Practitioners receive payments the day after claims are submitted, instead of waiting 2–3 business days. - Improved Cash Flow:
Real-time settlement helps providers manage finances more effectively.
What it means for you?
- If your bank supports Faster Payments, you’ll get your settlement the very next day after your claim was processed.
- If not, your payments will continue on the usual timeline.
- For any returns or failed transactions, payments will revert to the usual settlement timeline.
Frequently Asked Questions (FAQ)
1. What is the New Payments Platform (NPP)?
NPP is a modern payment system that enables real-time payments between participating banks and financial institutions in Australia.
2. How do I know if my bank account is enabled for faster payments?
Most major banks support NPP which enabled faster payments. Check with your bank or look for features like “PayID” or “Osko” in your banking app.
3. Will all my claims be paid instantly?
If your bank account is enabled for faster payments, then depending on HealthPoint claims processing and your banks capabilities, settlements will occur on the same day when the claims are processed (claim day +1). If not, payments will follow the existing settlement timelines.
4. Do I need to do anything to enable faster payments?
No action is required from HealthPoint Claims customers. Just ensure your bank account supports faster payments.
5. What happens if an NPP payment fails?
If an NPP transaction cannot be completed, the payment will revert to the existing settlement process and settle within the usual timeframe.
6. Have any downstream system changed?
No. There is no impact on any of the downstream systems.