Advalent’s Financial Plus offers health plans a highly configurable, cloud-based solution to automate premium billings and payments. Our Platform-as-a-Service (PaaS) technology provides application management capabilities and hosting services for payers that require flexibility and scalability to adapt to a changing market. Financial Plus provides for invoice generation, payments and reconciliation for multiple lines of business all under one solution. It accommodates split invoicing into multiple cycles, auto-reconciliation of various shares (APTC, Tribal, and other shares), and gives users the option to drive premium calculations on both 834/820 or system rules using rate tables. Additionally, payers can perform revenue reconciliation, manage delinquencies and access a wide range of reports.
Advalent’s utilization-based pricing allows health plans to bring together and oversee Medicare, Medicaid, Commercial, Self-funded groups, Administrative Services Only (ASO’s) and Health Exchange (HIX) lines of business for efficient revenue and payment management at predictable and lower costs.