Third Party Administration Overview

As self-insurance becomes an increasingly popular funding method for client sponsored plans, more and more employers are turning to TPAs for their administrative expertise. TPAs assist plan sponsors with design, implementation and day-to-day administration of employee benefit plans. Unlike large insurance companies and HMO's, TPAs tend to be more efficient and flexible with their clients. Typical TPA services include billing and eligibility services, employee communications, claims processing, records archival, financial analysis and reporting.

A typical TPA has the following business and internal process goals:

Business Goals	Internal Process Goals
Reduce client’s premiums	Reduce medical loss rations
Improve client service levels	Minimize data entry errors
Acquire more clients	Regulatory compliance
Increase profit margins	Reduce operating costs

 

Third Party Administration Overview

SysInformation is an ideal partner for TPAs.  With a combination of operational expertise, deep knowledge of the healthcare market and lower cost labor, SysInformation can deliver significant cost reduction and performance improvements for TPAs:

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