A Completely Different Way of Looking at the Benefit Process
Until recently, the benefit process for most health plans included interfacing with group customers to identify exact benefits sold, resolving multiple internal interpretations of the benefit data and relying on the manual coding of benefit data into the various systems.
BeneFACTSM supports group implementation functions and allows for a completely different way of looking at the benefit process due to its ability to reuse benefit code at the payer, product and group level.
BeneFACT allows benefit code to be entered only once and then acts as the single source of valid codes that can be automatically delivered to other systems as required. This reduces coding and claims processing errors, benefit-related adjustments and claims processing costs. The product allows for all data errors to be researched and corrected in a single system and updates all other systems as needed.
BeneFACT acts as a single source of truth, as the benefit code can be loaded into multiple benefit systems, thereby reducing multiple interpretation points. In addition, the large benefit code database and variable library allow for increased speed to market in the development of new benefit products. The product also supports increased benefit complexity. With BeneFACT, adjudication occurs through smaller groupings of code, which facilitates better maintenance and triage. In addition, the product can be integrated with third-party systems, both by receiving data from other health plan account implementation tools and by reporting data to third-party applications.
how we can help your plan today?
NASCO is continually innovating. We are developing new products, improving capabilities and increasing sharable services to ensure that our health plan customers remain competitive and aligned with changing market demands.