Facets Billing Application

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by George G - Thursday, January 28, 2016, 8:03 AM

Facets Billing module leads the entire billing process; by defines billing occurrence, day to bill,  premium invoice reconciliation, and lead period. It also allows the Facets reporting system to produce different statements and reports from this data. Fees, discounts and other optional and mandatory attributes are also processed. Premium calculations are performed in the Subscriber/Member and Plan application sub system. Notes are attached to the invoices, and tables are created to supply directly to the reporting sub system. All the details are summarized to the billing entity level. If any payments are  suspended, they are applied to the bill.

Some of the key features supported by the billing application group:

  1. Managing Fees
  2. Managing and applying discounts
  3. Handling payment adjustments
  4. Performing and managing Self-Billing
  5. Managing Medicare Member Billing
  6. Processing Receipts
  7. Premium Reconciliation

 

[ Modified: Wednesday, May 18, 2016, 9:16 AM ]