Streamlining Premium Billing with MediPay
- aparnageorge4
- Oct 22, 2024
- 1 min read
MediPay’s automated premium billing solution simplifies the billing process by automatically generating and distributing premium bills to both members and employer groups. With customizable schedules, the system ensures timely billing that meets the needs of various plan configurations. It also supports payment processing through multiple channels, including EFT, credit cards, and checks, making it convenient for members and employers to complete their transactions.
To ensure financial accuracy, MediPay provides premium reconciliation, which automatically matches premium payments with member records, reducing manual errors and improving accounting precision. For employer groups, the system generates customized invoices that break down premium details and adjustments, offering transparency. Additionally, delinquency tracking keeps an eye on overdue payments, automating reminders and notifications for members with outstanding balances, ensuring efficient collections and minimal disruption in coverage.