The solution will enable Extend Health to automate its commission revenue forecasting, payment reconciliation and revenue recognition activities, resulting in more accurate revenue projections and timely and complete collections. With the ability to provide powerful forecasts and comprehensive payment reconciliation, Extend Health will be well positioned to make significant business decisions that will drive growth, while maximizing commission cash flows.
“The VUE Compensation Management solution will significantly improve the way we manage our commission forecasting and collections processes”, said Terri Brncic, VP, Finance and Controller at Extend Health. “The ability to see real-time, policy-level information about the value of our book of business will enable us to optimize our product offering and provide greater leverage in our carrier relationships. Furthermore, we expect to see improved cash flows as a result of the automated reconciliation capabilities. Historically, we have experienced challenges in reconciling our expected commissions against the actual receipts, due to the extremely high volume of payment transactions, This system will streamline our collections efforts by automating the matching process and providing robust payment exception reporting, enabling 100% collection of our commissions.”
“Extend Health will be able to leverage the service oriented architecture of VUE Compensation Management to calculate expected commissions for new and renewal enrollments,” said Joseph Westlake, Vice President at CSSI. “The solution offers large agencies and exchanges rich end-to-end capabilities for revenue reconciliation. With VUE Compensation Management, Extend Health can easily track and reconcile large volumes of differences between expected commissions and actual payments from respective carriers.”
VUE Compensation Management, built from the ground up by insurance specialists, calculates commissions on multiple metrics in the most complex insurance business environments. Designed to be scalable, flexible and richly functional, the solution accommodates changing business rules and growing businesses in addition to identifying and reconciling discrepancies in commission calculations.
About Extend Health
Extend Health, Inc. was founded in 2004 to serve Medicare-eligible retirees and their corporate sponsors. The company operates the country’s largest private Medicare exchange and has helped more than 250,000 retirees compare and choose the private Medicare plan that best meets their needs and budgets. With Extend Health employer solutions, Fortune 500 companies, unions, and municipalities can save up to 35% on retiree health care compared to legacy employer group plans. For more information, visit Extend Health on the web at www.extendhealth.com.
About CSSI and VUE Software®
VUE Software® is the product division of Computer Solutions and Software International (CSSI) dedicated to providing industry-specific business technology solutions to companies in the insurance, healthcare, and construction verticals. Because they are tailored to the needs of these particular industries, our solutions are different from one-size-fits-all performance management and compensation suites such as enterprise incentive management (EIM) and sales performance management (SPM) solutions. VUE Software’s solutions allow companies to manage strategic incentive plans, automate producer administration and organize complex data and contractor policies, resulting in greater administrative efficiency and improved sales performance. For more information about VUE Software, please call 1.877.4.VUESOFT or visit www.vuesoftware.com.
4800 Lyons Technology Parkway, Suite 4
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VUE Software® is a registered trademark of Computer Solutions & Software International, Inc. All other registered trademarks or service marks belong to their respective companies.