Market Overview

AdminaHealth Unveils Consolidated Billing & Benefits Reconciliation Platform

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Cloud-based solution offers insights into billing processes and
discrepancies, helping benefits administrators save time and money while
lowering risks of premium leakage

AdminaHealth LLC, a leading provider of technology and financial
solutions for benefits administrators, today announced the release of
its Consolidated Billing & Benefits Reconciliation platform, to be
unveiled at the upcoming SHRM 2018 Annual Conference & Exhibition, June
17-20, 2018, in Chicago.

AdminaHealth's cloud-based platform, an extension of the company's
robust portfolio of payment-processing and self-funded solutions,
integrates with an organization's existing technology systems. In doing
so, it offers a seamless user experience to benefits administrators and
brokers who need real-time visibility to drive decisions and ensure they
are paying the correct amount for employee benefits.

The platform is intuitive and easy to use, offering both self-funded and
fully insured organizations key insights into issues such as premium
leakage, coverage changes, and missing coverage. It does this through
the use of sophisticated back-end algorithms that can comb through
records to detect and resolve billing discrepancies. In doing so, it
alleviates the massive headache of navigating manual processes to
identify costly problems. According to recent estimates put out by
Covered California, premium increases could range from 12 to 32 percent
in 2019, in absence of federal action. With healthcare benefit costs
continuing to rise, minimizing or reversing this trend is top of mind
for organizations.

"Organizations are looking for new ways to drive value and cut costs,
without cutting back on benefits, which not only significantly impacts
employee morale but is also one of the largest expenditures of any
organization," said Robert Bull, CEO and founding partner of
AdminaHealth. "Premium overspending, in particular, is a huge problem
for most organizations, who can lose thousands of dollars when dealing
with discrepancies such as paying for a former employee's benefits after
the employee or their dependent has left the plan. Typically, benefits
administrators spend significant time each month dealing with such
billing issues or worse, never deal with them at all as they simply do
not have the resources or ability. In automating this reconciliation,
AdminaHealth's solution allows organizations to ensure they are paying
for exactly the benefits their beneficiaries are enrolled in and are not
losing money to inaccuracies."

AdminaHealth's Consolidated Billing & Benefit Reconciliation platform
includes the following features:

  • An automated system for ensuring organizations are getting the
    services they are enrolled in, and not paying for ones they are not
  • Consolidated bill view of all health and benefit expenses – including
    Self-Bill, List Bill (pay as received and short pay)
  • Reports on period plan changes (true-up
    additions/deletions/retroactive adjustments)
  • Comprehensive workflows for changes, reconciliation, approval, and
    payment transactions
  • Integration with HRIS & accounting systems
  • Automated notification, approval, and payment framework
  • Wire and ACH payment transactions
  • 834 enrollment and 837 claims EDI integration
  • 24/7 back-end support
  • Accurate benefit charge backs to subsidiaries, divisions, or P&Ls

AdminaHealth will be launching its Consolidated Billing & Benefits
Reconciliation platform at Booth 2719 at the SHRM18 Annual Conference &
Exhibition, June 17-20, 2018, in Chicago.

About AdminaHealth

AdminaHealth LLC is a cloud-based solutions provider that develops
technology and financial solutions for the benefit and insurance
marketplace. The company provides unique operational, reporting and
financial solutions to brokers, TPAs, captive managers, and the
employers and associations they serve to gain efficiencies that reduce
costs while maintaining or even increasing coverage levels.

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