COCONUT CREEK, Fla., July 8, 2013 /PRNewswire/ — VUE Software® today announced that a rapidly growing health insurance technology and distribution partner recently selected the VUE Compensation Management™ solution for its compensation management infrastructure. A subsidiary of one of the top ten health insurance companies in the United States the organization is hiring and training thousands of agents and service workers. The firm plans to leverage the system’s comprehensive commission management capabilities, which include automated revenue reconciliation, to confirm commission accuracy across multiple carriers, maintain smooth operations and ensure correct, timely agent compensation.
Because of its highly specialized business model, rapid growth and ongoing interactions with carriers, exchanges, agents and consumers, the insurance service partner required a robust, configurable system able to scale to high business volumes. Revenue reconciliation was a deciding factor due to the need to verify payment accuracy across a multi-carrier, multi-hierarchy environment and incorporate pay structures such as flat fees, percentages and multiple commission tiers. In addition, higher transaction volumes were anticipated to accommodate the effects of the Patient Protection and Affordable Care Act (PPACA) and increases in Medicare use with a shifting retiree population.
The service partner chose VUE Compensation Management following a referral from an existing VUE Software client on the basis of revenue reconciliation. The solution is being integrated into the service partner’s technology and will provide comprehensive revenue reconciliation capabilities as partnerships are established in the organization’s aggressive growth phase.
“With our dedicated insurance focus and successful track record with reputable clients, VUE Software is an excellent choice for companies that need to rise above industry complexities and healthcare reform challenges,” said Abhinav Dave, executive vice president of VUE Software. “Unlike many solutions, automated reconciliation is built into VUE Compensation Management so our customers can keep pace with complex commission environments. Reconciling variations between expected revenue and