Method and system for providing bundled electronic payment and remittance advice
First Claim
1. A computer implemented method that manages reconciliation of payments and remittances, via an interactive interface, using an identifier that links payment data and remittance advice to facilitate reconciliation of one or more payments, wherein the method is executed by a programmed computer processor which communicates with a user via a communication network, the computer implemented method comprising the steps of:
- monitoring, with the programmed computer processor, payment data associated with a healthcare provider for making a payment associated with a healthcare service or product, the payment authorized by an insurer payer, wherein the payment data is associated with a remittance advice;
transmitting the remittance advice, via the communication network, to a system associated with the healthcare provider, wherein the system associated with the healthcare provider comprises one or more of an accounts receivable system, patient accounting system and practice management system and wherein accounts receivable data is updated;
automatically linking, with the programmed computer processor, the payment data and the remittance advice to facilitate reconciliation of one or more payments, wherein the payment data and the remittance advice are associated with an identifier;
generating, via the programmed computer processor, an interactive interface via the communication network for monitoring and interacting with the payment data and the remittance advice, the interactive interface enables the healthcare provider to view and time future payments that have been initiated by the insurer payer to manage cash and receivables, the interactive interface electronically displays progress and status information associated with the payment data and remittance advice, the interactive interface further provides functionality comprising searching, reporting and downloading, the functionality performed in relation to the payment data and the remittance data, and the interactive interface enables the healthcare provider to download information and monitor the payment and transmission of remittance advice;
electronically confirming the payment and transmission of remittance advice to the healthcare provider via the network, andautomatically and electronically verifying to the healthcare provider, via an electronic communication, that the payment has been made.
4 Assignments
0 Petitions
Accused Products
Abstract
According to one embodiment, the present invention relates to a method and a system for transmitting bundled electronic payment and remittance advice for facilitating settlement of claim payments between payers (e.g., insurance companies) and providers (e.g., doctors, hospitals) or suppliers. According to an embodiment of the present invention, the method comprises the steps of receiving an electronic transmission from the payer wherein the electronic transmission comprises payment information and remittance advice; separating the payment information and the remittance advice; routing the payment information to a depository associated with the provider for making a payment authorized by the payer; transmitting the remittance advice to an intended recipient; and confirming the payment and transmission of remittance advice to the payer and the provider.
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Citations
26 Claims
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1. A computer implemented method that manages reconciliation of payments and remittances, via an interactive interface, using an identifier that links payment data and remittance advice to facilitate reconciliation of one or more payments, wherein the method is executed by a programmed computer processor which communicates with a user via a communication network, the computer implemented method comprising the steps of:
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monitoring, with the programmed computer processor, payment data associated with a healthcare provider for making a payment associated with a healthcare service or product, the payment authorized by an insurer payer, wherein the payment data is associated with a remittance advice; transmitting the remittance advice, via the communication network, to a system associated with the healthcare provider, wherein the system associated with the healthcare provider comprises one or more of an accounts receivable system, patient accounting system and practice management system and wherein accounts receivable data is updated; automatically linking, with the programmed computer processor, the payment data and the remittance advice to facilitate reconciliation of one or more payments, wherein the payment data and the remittance advice are associated with an identifier; generating, via the programmed computer processor, an interactive interface via the communication network for monitoring and interacting with the payment data and the remittance advice, the interactive interface enables the healthcare provider to view and time future payments that have been initiated by the insurer payer to manage cash and receivables, the interactive interface electronically displays progress and status information associated with the payment data and remittance advice, the interactive interface further provides functionality comprising searching, reporting and downloading, the functionality performed in relation to the payment data and the remittance data, and the interactive interface enables the healthcare provider to download information and monitor the payment and transmission of remittance advice; electronically confirming the payment and transmission of remittance advice to the healthcare provider via the network, and automatically and electronically verifying to the healthcare provider, via an electronic communication, that the payment has been made. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26)
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14. A computer implemented system that manages reconciliation of payments and remittances, via an interactive interface, using an identifier that links payment data and remittance advice to facilitate reconciliation of one or more payments, wherein the system comprises at least a programmed computer processor which communicates with a user via a communication network, the computer implemented system comprising:
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a computer store containing data relating to accounts receivable data and an identifier that links payment data and corresponding remittance advice to facilitate reconciliation of payments; a computer processor, which computer processor is coupled to the computer store and programmed to; electronically receive and validate payment data associated with a healthcare provider for making a payment associated with a healthcare service or product, the payment authorized by an insurer payer, wherein the payment data is associated with a remittance advice; automatically linking the payment data and the remittance advice using an identifier to facilitate reconciliation of one or more payments; electronically transmit, via the communication network, the remittance advice to a system associated with the healthcare provider;
wherein the system associated with the healthcare provider comprises one or more of an accounts receivable system, patient accounting system and practice management system;
wherein accounts receivable data is updated;monitor and interact with, via an interactive interface, the payment data and the remittance advice via the communication network, the interactive interface enables the healthcare provider to view and time future payments that have been initiated by the insurer payer to manage cash and receivables, the interactive interface electronically displays progress and status information associated with the payment data and remittance advice, the interactive interface further provides functionality comprising searching, reporting and downloading, the functionality performed in relation to the payment data and the remittance data, wherein the interactive interface enables the healthcare provider to download information and monitor the payment and transmission of remittance advice; electronically confirm the payment and transmission of remittance advice to the insurer payer and the healthcare provider; and automatically and electronically verify to the healthcare provider, via an electronic communication, that the payment has been made.
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Specification