TPA Stream announces the launch of consolidated invoicing product

CLEVELAND, Oct. 31, 2023 /PRNewswire/ -- TPA Stream, an insurance technology software company committed to improving how benefits are administered, today announced the launch of consolidated invoicing, expanding their billing solutions to all third party administrators.

Administrators can now generate one invoice for all services they provide, across CDH/COBRA administration, transit, cafeteria plans, medical premiums, and retirement benefits fees. Consolidated Invoicing by TPA Stream connects with any benefits administration system and pulls all information needed to either calculate fees and/or directly add them to a consolidated invoice. Consolidated Invoicing improves the ability to generate more revenue for administrators and is a value-add to employers looking for one bill from their administrator. This is the only solution on the market that can be used for any benefit type.

"Consolidated Invoicing builds on our longstanding strength in invoicing for the CDH/COBRA administration segment, but takes the solutions into new segments to help all administrators operate more efficiently," said Jacob Sheridan, co-founder and CEO, "as benefit administration businesses grow, they very rarely think about invoicing, but this really limits the ability to scale for many of them. We've seen time and again that having automated, consolidated invoicing truly helps TPAs operate more efficiently and positions them to take on new books of business."

TPA Stream's invoicing solutions are currently used by Third Party Administrators across the country nationally and combined, users have saved over 29,000 hours on invoicing using TPA Stream.

About TPA Stream
TPA Stream is an insurance technology software company headquartered in Cleveland, Ohio. Founded in 2014, TPA Stream's web-based platform services third-party administrators, health plans, brokers and financial institutions to streamline efficiencies across all aspects of employee benefits administration. Company solutions include Claims Harvesting, Employer Invoicing, and a Software Development Kit to integrate solutions directly into an app. Learn more at www.TPAStream.com.

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SOURCE TPA Stream