Benefit Informatics Introduces Aggregate Reporting

<p class="bwalignc"><i>Online Application Offers Employers, TPAs and Insurers Time and Resource Savings</i></p><p><location value="LU/us.ok.tulsa" idsrc="xmltag.org">TULSA, Okla.</location>--(BUSINESS WIRE)-- Self-funded employers, Third Party Administrators and benefit advisors all face the same requirement each month – aggregate reporting to stop-loss providers. This process can require multiple employees and dozens or even hundreds of hours to complete. </p><p> Benefit Informatics has introduced integrated Aggregate Reporting in the online Data Analysis and Reporting platform. The Aggregate Reporting application allows payers and employers to easily and quickly communicate monthly and annual aggregate and specific stop-loss information to carriers and MGUs. The Aggregate Reporting application enhances the current industry-leading package of stop-loss reporting available from Benefit Informatics. </p><p> “This new application is one of the most anticipated functions we have brought to market in years,” said <person>Phil Bruns</person>, Chief Operating Officer at Benefit Informatics, a Benefitfocus company. “Our TPA and employer customers have had this on their wish list for some time. It is an application that increases productivity and streamlines a sometimes cumbersome process.” </p><p> As an integrated application, Aggregate Reporting provides seamless consolidation of information required for standard monthly aggregate reporting. The data utilized to complete the report is consolidated from medical, dental, vision, prescription and other claim sources per the stop-loss contract. </p><p> Because there is no uniform format or template in aggregate reporting, the application allows for customization. Aggregate Reporting can be customized for each carrier and MGU. Customizable parameters include: </p><ul><li class="bwlistitemmargb"><b>Contract components</b></li><li class="bwlistitemmargb"><b>Coverage dates</b></li><li class="bwlistitemmargb"><b>Plan factors</b></li><li class="bwlistitemmargb"><b>Attachment point</b></li><li class="bwlistitemmargb"><b>Identification of high cost claimants</b></li><li class="bwlistitemmargb"><b>Schedule the application to run on specific day/time</b></li></ul><p> New reports can be set up within minutes. Once set up, the report can be scheduled to run on a specific day each month. The report generated can be securely distributed to carriers utilizing scheduled report distribution<i>.</i></p><p> “It is exciting to see the interest in the Aggregate Reporting application by our customers,” Bruns adds. “And like all of our analytics applications, we have updated and will continue to update the functionality based on customer feedback.” </p><p><b>About Benefit Informatics</b></p><p><i><org>Benefit Informatics Inc.</org>, a </i><a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.benefitfocus.com&esheet=50020360&lan=en-US&anchor=Benefitfocus&index=1&md5=05084fe6da4327dcf1b665a73ae09d3f"><i>Benefitfocus</i></a><i> company, enables the efficient planning, management and analysis of employee benefit plans through the delivery of online proprietary applications and services to employers, insurance companies, third party administrators and brokers. Benefit Informatics currently serves more than 70 payer organizations, 6,000 businesses and health plans, and more than 3 million members. For additional information, call 888.802.4636 or visit </i><a href="http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.benefitinformatics.com%2F&esheet=50020360&lan=en-US&anchor=benefitinformatics.com&index=2&md5=2634abc54bcaa3087a9fd8cdadde6819"><i>benefitinformatics.com</i></a><i>.</i></p><p><img alt="" src="http://cts.businesswire.com/ct/CT?id=bwnews&sty=20111006005643r1&sid=acqr4&distro=nx" /><span class="bwct31415" /></p><p><org>Benefit Informatics, Inc.</org>, A Benefitfocus Company<br /><person>Chris Metcalf</person>, 918-491-3603<br /><a href="mailto:[email protected]">[email protected]</a></p><p>Source: <org>Benefit Informatics, Inc.</org></p>