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Paylogix® Adds Cash-q® to Premium Solutions® Portfolio

(Garden City, New York, October 01, 2001)
Paylogix® (http://paylogix.com), a technology based provider of billing solutions to the insurance industry, announces the release of Cash-q® premium spooling module for Premium Solutions®.

The Paylogix® Cash-q® allows clients to remit premiums and/or contributions in any preferred frequency while supporting plan providers with systematic cash flow. This feature enables a plan provider to maintain existing pay systems and processes while supporting consumer needs for custom remittance schedules. Group remittance and individual contributions can be indifferent from the plan providers’ expected remittance frequencies. The consumer pays premiums and/or contributions on a customized basis. Premiums and/or contributions are then spooled on an individual or group basis until sufficient to pay a fixed amount or on a fixed schedule in accordance with each plan provider’s needs.

This unique offering eliminates the need for reconciliation and premium accounting for all parties. Plan providers can now support client needs without investing in legacy system modifications. All records are stored and accessed via convenient and secure online environment. This one-stop, self-serve environment permits plan providers, employers, agents and even employees access to supporting documentation in addition to related billing and eligibility data. “This is simply another tool that allows us to all to be more efficient and productive in our efforts to provide a better product to the consumer.” states Richard Pfadenhauer, founder of Paylogix®. “A mountain of questions and ambiguities are eliminated when we all have access to the same information.”

Paylogix® web-enabled premium billing solutions are available on a true application service provider (ASP) arrangement, transforming legacy-based paper processes into efficient online interactive relationships. This technology lease provides a pay-as-you-go means for an insurer or administrator to launch a fully functional electronic business-to-business (B2B) application via the Internet while also supporting existing and more traditional billing transactions.

Founded in 1995, Paylogix® pioneers and incorporates innovative technologies like their web-enabled Consolidated Billing® system to provide cost-effective solutions and expert service. Paylogix® currently provides premium billing solutions to prominent insurers and group providers in North America. More information about Paylogix® can be found on the Internet at http://paylogix.com. Interested parties should call (800) 622-4131 or via e-mail: