Healthcare Reporting

Recurring billing is a payment model used when a subscription business charges a customer's credit card for products or services on a regular billing schedule. Subscription services tend to charge this on a monthly or annual schedule, until the customer withdraws permission or cancels their subscription.The use of recurring billing software for insurance companies offers steady cash flow and savings on staff and resources. There are many advantages of using recurring billing such as security, reduction in management costs and increased efficiency.

Advantages of recurring billing

Predictable revenue which simplifies decision makings

reduction in management costs.

Increases efficiency.

Subscriptions/Recurring billing management systems

hybrid -- payment gateways that have a subscription layer.

Loss Control

Invest in educating members on how to improve their health.

Be informed of the costs incurred/likely to be incurred.Claims, commissions, management expenses.

Cost strategy characteristics in the insurance company.

Cost strategy	Basic objective	Instruments used	Main problem areas
Reduction-based cost strategy/cost optimization	Target cost level	Cost budgeting Activity-based management Responsibility accounting	Acquisition costs Loss adjustment expenses Administrative costs Activity-based costs Internal units cost Investment management costs
Cost strategy based on pricing policy	Target premium rate	Product life cycle costing. Kaizen costing. Client’s cost accounting.	Product profitability Client profitability Distribution channels profitability Profitability of reinsurance technical activities Investment profitability Investment management costs
Profitability- based cost strategy	Target profitability level	Budgeting and control of claims incurred costs	Claims incurred
Insurance risk- based cost strategy	Target level of insured risk	Budgeting and control of claims incurred costs coordinated with a defined solvency level	Claims incurred Solvency Own funds Capital Cost volatility
Cost strategy based on financial liquidit	Target financial liquidity level	Cash flow statement Cost budgeting coordinated with cash flow budgeting Value creation chain	Costs expenses relation Cash flow Defining the relation between cost raising and cash flow generating Value creation in the insurance company
Cost strategy based on cost of capital minimization	Minimum weighted average cost of capital	Capital budgeting Financial leverage	Capital structure Cost of capital

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Billing Management & Loss Control

Healthcare Reporting

Advantages of recurring billing

Subscriptions/Recurring billing management systems

Loss Control