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Settlements for Tyro HealthPoint

More information on how and when settlements are paid

Adriano avatar
Written by Adriano
Updated over a week ago

About Tyro HealthPoint settlement

All private health insurers who are integrated to Tyro HealthPoint, aside from HCF are integrated into a single settlement managed by HealthPoint. However, depending on when you signed up, you may receive your settlements differently.

Signed up to Tyro HealthPoint

Settlement arrangement

Prior to October 2021

After October 2021*

Single settlement for all funds except for HCF with a delay of 1 day

Where payments are deposited

Each claim is settled at the provider number level – the same bank details can be used across multiple provider numbers.

How to update provider bank details

  1. Log in and navigate to the ‘Tyro HealthPoint’ settings
    Select 'Get Paid' from the side bar, then select the ‘settings’ on the private health insurance payment tile.

  2. Go to the ‘Tyro HealthPoint’ tab
    You may have multiple private health insurance claiming options, such as nib Direct – ensure ‘Tyro HealthPoint’ is selected.

  3. Select the provider
    Hover over the three horizontal dots alongside their record and select ‘edit’. Then, by provider number, you can edit the new settlement bank details before clicking ‘submit’.

If you already have Tyro HealthPoint but aren’t set-up in Tyro Health Online, then please contact us to update your settlement bank details.

Settlement bank detail changes can take up to 7 business days to take effect. If you have a Tyro MID with Tyro's Consolidated Settlements, our team will reach out beforehand to confirm your EFTPOS settlement bank details.

When to expect funds to be settled

Signed up prior to October 2021

You may be part of 'Tyro's Consolidated Settlements', which is managed by Tyro directly, so all health funds (including HCF) are part of a single settlement that takes 2 days to process.

  • Approved claims from Tuesday are settled on Thursday

  • Approved claims from Wednesday are settled on Friday.

  • Approved claims from Thursday's are settled on Monday

  • Approved claims from Friday's are settled on Tuesday

  • Approved claims from Saturday, Sunday and Monday are settled on Wednesday

Tyro's Consolidated Settlements is no longer available for new providers or those wishing to submit online private health insurance claims via HealthPoint (using Tyro Health Online). If you're no longer on Tyro's Consolidated Settlements, your settlement arrangement will be as per "Signed up after October 2021" below.

Signed up after October 2021

Your settlements are managed by Tyro HealthPoint which means all funds that integrate - except for HCF - will be processed as part of a single settlement that takes 1 day to process.

  • Approved claims from Monday are settled on Tuesday.

  • Approved claims from Tuesday are settled on Wednesday, and so forth.

  • Approved claims from Friday, Saturday, and Sunday are settled on Monday.

HCF settlements are processed separately: HCF process payments on a Wednesday for claims approved for the previous week ending on Tuesday.

You may have signed up to Tyro HealthPoint after October 2021, but if you joined an existing Tyro terminal sharing group set up prior to October 2021, you may have been put onto Tyro's Consolidated Settlements.

Tyro's Consolidated Settlements and claiming online

Online private health insurance claiming (via HealthPoint) is not available to providers while they're on Tyro’s Consolidated Settlements. You can still use Tyro Health Online to add and manage HealthPoint enabled providers for Tyro EFTPOS machine claiming, including sending claim requests from Tyro Health Online to a connected Tyro EFTPOS machine.

If you want to submit online private health insurance claims, you’ll need to contact us to remove Tyro’s Consolidated Settlement from your Tyro merchant account - this would give you access to online private health insurance claiming (via HealthPoint).

If you remove Tyro’s Consolidated Settlement, you will no longer receive a single settlement payment for all private health fund claims. You will still receive your EFTPOS payment after a 2 days processing delay, but private health insurance claims will be processed by HealthPoint and certain funds directly.

If you have any questions, click on the pink chat bubble on our website or email our Customer Support team.

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