Overview

FINEOS Payments is a powerful benefit calculation and disbursement module that integrates with FINEOS Claims, FINEOS Absence and FINEOS Provider to help ensure accuracy and completeness while significantly reducing administrative costs. When integrated with FINEOS Claims, FINEOS Payments also addresses medical rehabilitation services, inpatient care/invasive surgery, social security advocacy services, and identification of beneficiaries on death benefit claims.

FINEOS Payments processes everything from simple one-off payments (e.g. to beneficiaries on death claims) to complex, long-tail payments that change over time (e.g. disability / income protection claims). It has automated procedures for dealing with offsets, deductions, tax, interest, overpayments and underpayments and it generates detailed audit trails of all financial movements.

FINEOS Payments is integral to the FINEOS AdminSuite – providing a seamless approach to one of the most critical customer engagement touchpoints.

It integrates with:

FINEOS Claims / FINEOS Absence

  • Benefit calculations for all insurance products
  • Process Paid Family Leave claims payments
  • Retroactive re-calculations
  • Overpayment recovery
  • Indexation of payment amounts
  • Tax and interest
  • Combine payments cross-claim
  • Manage external claim expenses
  • Manages recurring, one off lump sum, schedule-based benefits payments
  • Detailed payment breakdowns

FINEOS Provider

  • Capture and automatically review / pay invoices
  • Align service contracts with payments
  • Generate end-of-year financial statements for providers

FINEOS Perspectives: Overview of Claims Payments

Eoin Kirwan, VP Product Management at FINEOS, provides an overview of how the FINEOS Solution handles payments.

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FINEOS AdminSuite

FINEOS Absence

  • Integrated with FINEOS Claims
  • Covered paid and unpaid leaves
  • Simplifies compliance
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FINEOS Billing

  • Combined or separate bills
  • Reduced billing leakage
  • Automated cash application
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FINEOS Claims

  • Provides straight-through processing
  • Increases accuracy and compliance
  • Covers payments and return to work
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FINEOS Payments

  • Automated
  • Accurate
  • Payroll Continuity
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FINEOS Policy

  • Set up cases quickly
  • Service all tiers and admin modes
  • Connect to digital ecosystem
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FINEOS Provider

  • Drive outcome-orientated engagement
  • Manage service approvals
  • Accelerate rehabilitation and return to work
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