Cloud-based EOB Harvesting Software for Third Party Administrators
Third Party Administrators (TPAs) are continually stressed. Client companies want rapid and accurate resolution of employee claims, client employees demand payments but are reluctant or unable to supply Explanation of Benefits (EOBs), and insurance providers are relentlessly applying claim changes with little or no notification to the TPA. These challenges create TPA staff overtime, undue work stresses on TPA staff, and staff turnover. Year end rushes magnify these challenges significantly.
If we lived in a more perfect world what could be done to improve TPA’s challenges? Transparent automation of the EOB submission process would significantly reduce costs by minimizing phone calls, courier time, clerical entry, and accuracy of claim resolution and substantiation. Client employees would not have to manually submit EOBs and enjoy speed of payment. TPAs would receive a real-time feed of the most current claim status and automation would smooth the peaks in workload and eliminate TPA year end crunches!
TPA Stream has an elegant solution for FSA, HRA and HSA processing. TPA Stream is a cloud based software offering that acts as an electronic representative for each member in your client base. On a scheduled basis, TPA Stream communicates over the web with the appropriate provider(s) for each member and reviews their account for both new and updated claims. The claims can be electronically reviewed and/or transmitted to the TPA’s benefits administration software. A near perfect world can be available to you today with TPA Stream!