The Facets Core Administration platform, trusted by more than 75 healthcare organizations, consists of a rich set of modules that allow payer organizations to meet their business requirements while positioning them for growth and change. With scalability to meet the transaction needs of the largest healthcare plans, Facets addresses the needs of Commercial Group, Individual, Consumer-Directed, Managed Medicaid, Medicare Advantage and, Part D, Disability and Specialty health plans. In addition to its core modules, Facets includes an entire ecosystem of Cognizant’s TriZetto Healthcare Products and third-party applications that extend its features and functions.
With Facets, payers can meet the demands of the consumer-driven market by:
Real-time delivery of claims and customer service items, reducing bottlenecks and automating work.
Near real-time accumulator synchronization between Facets and third-party vendors.
Supports the administration of flexible spending accounts, health reimbursement arrangements, and health savings accounts.
Real-time ITS solutions for claims processing and member liability estimation for BCBS plans.
Data publishing and web services that extend and integrate with the Facets system in real-time with third-party applications.
Administer and reimburse long- and short-term disability benefits
Supports HMO products for capitated entities to share financial risk and claims, along with UM processing responsibilities.