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Method and system for providing bundled electronic payment and remittance advice

  • US 10,311,412 B1
  • Filed: 03/25/2010
  • Issued: 06/04/2019
  • Est. Priority Date: 03/28/2003
  • Status: Active Grant
First Claim
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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:

  • 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.

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