Streamline Benefits Invoicing with Consolidated Invoicing
Improve Operations with Our New Consolidated Invoicing Features
Many TPAs are spending countless hours and resources performing inefficient invoicing tasks. Whether they’re pulling data from benefits administration systems and scrubbing them by hand, or using an expensive platform that’s not integrated with the ben admin system, this time and expense can add up. Now, there’s a better solution to ensure streamlined operations and accurate benefits invoice reconciliation. Learn more about our new Consolidated Invoicing features below, or reach out to our team to set up a demo.
How it Works
Integrating directly with your benefits administration system, Consolidated Invoicing pulls all necessary counts and data, applies any recurring one-time fees, and generates detailed invoices to share in a secure white-labeled employer portal for prompt payment. Now, you can easily apply bundled rates, one-time fees, divisions, and commission payments. What’s more, you can dramatically reduce the time you spend on generating invoices and servicing accounts.
Use Cases for Our Benefits Invoice Reconciliation Solution
Lookback Adjustments
Benefits invoicing reconciliation is made easy with Consolidated Invoicing. The software can detect retroactive changes in member enrollments and apply credits or debits to invoices. It ensures that past discrepancies between what was billed and what should have been billed are corrected.
Advanced Data Management
Integrating enrollment data from various systems and supporting complex billing rules supports accurate reconciliation of invoiced amounts. This allows TPAs to match invoicing data with the correct benefit plans and adjustments.
Comprehensive Dashboard Features
Users now have the ability to view data imports and exports, streamlining the process and allowing you to ensure data is up-to-date. Many jobs are scheduled to run daily, weekly, or monthly, depending on the information. Instead of searching through the program to determine what’s been updated, it’s all pulled together for you in the user-friendly interface.
Data Exports Visibility
Data exports can also let you see if you’ve pushed out invoices to your integrated accounting software (like Quickbooks or Sage Inacct) successfully, putting your mind at ease that everything’s working the way it should. There is also a new audit trail that can help track changes and ensure that all invoicing data aligns with recorded transactions.
The New Member Deep Dive
This new feature aids in reconciling discrepancies by allowing users to drill down into individual member details. It helps clarify why specific charges are on an invoice, addressing reconciliation issues at the member level.
Set Up a Demo to Learn More
TPA Stream’s simple, easy-to-use software was designed to streamline operations for TPAs like you. If you’re interested to learn how it can help with your benefits invoice reconciliation, we’re here to help. Set up a demo to learn how we can empower better benefits together. And don’t forget, you can always find the newest information about TPA Stream on our YouTube channel.
About TPA Stream
TPA Stream was founded in 2014 with the mission to make health benefits easier for employees and administrators. One of our co-founders, Eric, created this custom product to solve his own issue. He was working for an employer that changed its benefits package, which included a pretax account to pay for out-of-pocket medical expenses. In order for the employees to take advantage of this benefit, they were required to send all their claims to a TPA for processing and to Eric for reimbursement.
Eric started collecting his claims manually, but the process was prone to error and delays. Instead, he wrote software to collect and submit his claims to the TPA. From there, the vision for TPA Stream was born.
What makes us different is that our programs were designed by someone who experienced the issue faced by many TPAs today. Using this real-world experience, we created a powerful tool that helps businesses like yours save time and money. We’d be honored to revolutionize your experience.