SBS provide a Bureau Service whereby claims data (from multiple claims administrators) are received, administered and uploaded into a hosted version of MIMS.
- Individual spreadsheets, containing claims data, are received from third party administrators
- The data is checked and issues resolved as needed before being loaded into MIMS
- New claims are populated and existing claim records are updated
- Claims are aggregated according to the self insured funds or policies involved
- Fund Erosion and analysis graphs together with key reports (with a drill down to individual claim records) are produced and accessible via the web
As well as the benefits attributed to MIMS, further benefits arise from the claims consolidation service. These relate to:
- The speed and accuracy with which the corporate funds position is known;
- Improvement in cash management, providing an early warning of any cost exposure
- Allow excessive contributions to be ‘repaid’ to participating groups.