New Feature for Invoicing Customers: Vendor Units

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Vendor Units

Who is this for: Employer Invoicing users

Now you can invoice for services from other systems

We added a vendor billing module which means you can bill for items from other administration systems beyond CDH or COBRA admin fees. Now you can bill for services either on a PEPM (per unit) basis or based on dollar amounts, all with the added detail, customization, and accuracy you’ve come to expect from Employer Invoicing. 

What can it be used for

Vendor units work best for adding complex, recurring fees from various benefit administration platforms to your invoices. By adding them to your TPA Stream invoices, you’ll get customization options like divisions, billing contacts, commissions, and the employer portal. 

With Vendor Units you can now offer consolidated invoicing 

Now you can provide the added service of a consolidated invoice for your clients accessible in their secure employer portal, without the hassle of sending your clients multiple invoices. (We will be announcing more functionality around consolidated invoicing in the coming months.)

How it works

Vendor units work by integrating with any benefits administration system. We’ll set up an integration to get the data into TPA Stream and configure your account with the vendor units feature. 

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Then, you can either apply a calculated per-unit price (e.g. charge $10 for every transit account), or total and display the dollar value on the invoice (e.g. charge for premiums, calculated by rate table).Vendor Units Configruation

Configuration Options

Vendor units are highly configurable. So if you are invoicing your clients for any fees other than CDH or COBRA administrative fees, it is likely that vendor units could be a fit.

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Two billing options

Bill for Dollar Amounts

Bill directly for any dollar amount from the vendor system. Vendor units can match and calculate on multiple files (for example, members and coverage tier in one file, and coverage tier and fees in a rate table). 

Fields displayed on the invoice are highly configurable. In the invoice example below, Sunny Benefits is billing for dollars (premium cost) and displays the coverage tier on the invoice. 

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Bill for Units

Using the bill by units, you can bill for any “unit” from the vendor. You have the option to set the Per Unit Price and the Per Price Service Item (which ties to the accounting package like Quickbooks).Vendor Units Bill For Set Up 1024x442

We hope this enhancement streamlines your billing process further and helps you offer additional value to your clients. We’ll be announcing more feature enhancements as we build out additional consolidated invoicing functionality. 

Please contact us if you’d like to add Vendor Units to your account. Happy Invoicing 🤑

Why TPA Stream

TPA Stream is a thriving, innovative insurance technology company committed to empowering better healthcare outcomes for employers and their employees.

Learn more about TPA Stream here.

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