An ExpertPlan news release said the new offering is derived from its proprietary software and efficient transaction capabilities that alleviate the TPAs’ cost, risk, time and staffing problems.
In addition, the system delivers personalized Web access and a customizable Voice Response Unit (VRU).
The company said that before PlanRecordkeeper+, TPAs getting into recordkeeping saw Application Service Provider software as the vehicle that made daily recordkeeping possible. ASP, however, presented broader challenges to TPAs such as processing and reconciling daily trades, maintaining staff to manage the additional functions, and considerable increase in liability for mishandled transactions, the recordkeeper explained.
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