IPA says the solution was designed to help employers who are struggling with the complexities of monthly billing and reconciliation with numerous health care carriers and vendors. easyBill Wizard is an extension of IPA’s co-sourced health and benefits administration solution, which provides enrollment technology as a supplement to employers’ in-house resources.
For employers who use a self-billing strategy, IPA says, easyBill Wizard will extract data directly from its Oracle database and create a report showing all necessary detail so that the remittances are applied properly. For employers who receive electronic invoices, easyBill Wizard will perform a fully automated comparison between the invoice and what is in IPA’s database. easyBill Wizard also handles a variety of retroactive premium adjustment scenarios.
“In order to pay and reconcile invoices to carriers and vendors, employers are typically faced with only two choices – a manual, time- and resource-consuming in-house process or what is often the significant cost of hiring an outside billing service,” said Jim Fredrickson, Executive Vice President at IPA, in a press release. “easyBill Wizard gives employers an efficient and effective way to manage the process in house via a simple and user-friendly software application.”