A new electronic invoicing and payment application designed specifically for insurance carriers has been introduced by Benefitfocus.com Inc. a Charleston, S.C. provider of insurance enrollment and benefit programs.
“We’ve developed a solution to address every aspect of the billing cycle – from invoicing and enrollment updates to automated reconciliation and secure payment transactions,” Shawn Jenkins, Benefitfocus.exe CEO said. “Integration with legacy and enrollment systems enables a dynamic flow of data, eBilling provides carriers with a complete full-circle billing process.”
The product features web-based invoicing, automated reconciliation and online bill pay. According to Jenkins it combines robust capabilities with a simple intuitive interface designed to streamline processes, lower costs and improve cash flow. It easily integrates with legacy billing systems to permit flexible and scalable deployment in complex organizations and communicates with enrollment systems. It can rapidly transmit changes in benefits and generate accurate, timely billing statements.
Jenkins estimates by replacing slow, error-prone paper processes, eBilling saves insurers an estimated $9.50 for every invoice generated.
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