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Billing & Financial Management

Business Connector

Billing & Financial Management

Health Insurance Exchanges (HIXs) will bring changes to the individual and small group markets that will result in risk selection problems for health insurers. Billing & Financial Management is a business process that can help mitigate the impact by providing financial protection for health insurers.

Softheon Exchange Connector (SEC) Billing & Financial Management allows insured enrollees, federal agencies and health plan issuers to receive invoices and make payments, and provides a complete and transparent solution for all financial activities associated with the HIX. Softheon Billing & Financial Management provides functionality that allows health insurers to reconcile basic cash, receivables, and payable transactions between members and HIXs. Additionally, Softheon Billing & Financial Management acts like a robust reporting system to support financial operations and meet the statutory and regulatory reporting requirements. Health plans using Softheon Billing & Financial Management will have the ability to define and control their financial management activities while complying with all HIX requirements.

Opportunities and Benefits

Softheon Billing & Financial Management allows the health plan issuers to:

Meet customer demand quickly and precisely
Lower operation costs associated with technology maintenance
Leverage established investments in technology
Minimize custom development
Launch composite applications
Lower the cost of maintenance and ownership
Seamlessly interact with existing core technologies

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Description

<div style="width: 540px; padding-left: 30px; padding-right: 30px;">
<p><img src="/HTMLCache/375/exchangeconnector.png" alt="Business Connector" style="border-radius: 20px; float: left;" /></p>
<div style="float: left; margin-top: 170px; padding-left: 20px; padding-bottom: 20px;">
<h2 style="width: 200px;"><span style="color: #999933;">Billing &amp; Financial Management</span></h2>
</div>
<h3><span style="color: #999933;">Health Insurance Exchanges (HIXs) will bring changes to&nbsp;the individual and small group markets that will result in risk selection problems for health insurers. Billing &amp; Financial&nbsp;Management is a business process that can help mitigate the impact by providing financial protection for health insurers.</span></h3>
<p>Softheon Exchange Connector (SEC) Billing &amp; Financial Management allows insured enrollees, federal agencies and health plan issuers to receive invoices and make payments, and provides a complete and transparent solution for all financial activities associated with the HIX. Softheon Billing&nbsp;&amp; Financial Management provides functionality that allows health insurers to reconcile basic cash, receivables, and payable transactions between members and HIXs. Additionally, Softheon Billing &amp; Financial Management acts like a robust reporting system to support financial operations and meet the statutory and regulatory reporting requirements. Health plans using Softheon Billing &amp; Financial Management will have the ability to define and control their financial management activities while complying with all HIX requirements.</p>
<a href="javascript:void(0)" onclick="disable_scroll();$('#exchangebillingpopup').dialog({height: 510, width: 790, scrollable: false, resizable: false, modal:true, overlay:{opacity:0.8,background:'black'}, close: function () {enable_scroll();}});"> <img src="/HTMLCache/378/ExchangePublicFinancial-small.jpg" alt="Eligibility Workflow" style="display: block; margin-left: auto; margin-right: auto;" /></a><strong>Opportunities and Benefits</strong><br />
<p>Softheon Billing &amp; Financial Management allows the health plan issuers to:</p>
<ul>
<li>Meet customer demand quickly and precisely</li>
<li>Lower operation costs associated with technology maintenance</li>
<li>Leverage established investments in technology</li>
<li>Minimize custom development</li>
<li>Launch composite applications</li>
<li>Lower the cost of maintenance and ownership</li>
<li>Seamlessly interact with existing core technologies</li>
</ul>
</div>
<div id="exchangebillingpopup" style="display: none;"><img style="border-radius: 10px;" src="/HTMLCache/378/ExchangePublicFinancial.jpg" /></div>

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