The V3 System supports individual and group billing, remittance processing and payment
reconciliation across an unlimited number of product and product types in a single solution.
Bill structures include list, summary and direct bills. V3 also includes extensive support for
payroll deduction processing.
There are virtually no limitations as to billings cycles and invoice formats. Invoice and
payment details can be made available to group administrators and individuals through V3's
web-based self-service components.
V3 Billing can be used stand-alone or in conjunction with V3 Enrollment and V3
Administration. Premiums can be calculated within the system or imported from external
sources. V3 for billing includes native self-service, workflow, imaging and correspondence
features.
The V3 System's powerful billing features include:
Billing
- Group and Individual Billing
- Unlimited Products, Plans, Groups and Contracts
- Custom Invoice Formatting
- List Bills and Summary Bills
- Delta Only Bills
- Premium Calculations
- Premium Feeds
- Payment Receipt
- Automated Matching
- Reconciliation
- A/R Administration
- Suspense Payments
- Plan Allocations
- Split Billing
- Co-payment Billing
- Retro Adjustments
- Future Adjustments
- Prior Period Re-bills
- Discrepancy Billing
- Credit Notices
Product Definition
- Unlimited Product Categories
- Unlimited Products
- Types and Options within Each Product
- Enrollment Rules Definition
- Premium Rules Definition
- Data Sensitive Rules Processing
- Factor and Look Up Tables
- Group Contracting
- Individual Contracting
Reporting and Integration
- Statements
- Correspondence
- Policy Holder Notices
- Participant Reporting
- Employer Reporting
- Group Reporting
- End User Reporting
- Ad Hoc Reporting
- Tax Reporting
- General Ledger Integration
- Import and Export Processing
