System for invoice record management and asset-backed commercial paper program management
First Claim
1. A system for processing electronic accounts receivable records, each specifying an account receivable recorded in one or more computer systems for a seller of the account receivable, each accounts receivable record including (i) a date field specifying a date for the account receivable, (ii) a financial data portion specifying an amount billed to be paid by a payor, and (iii) goods or services data portion specifying information about the goods or services provided for the amount billed, comprising:
- means for downloading accounts receivable records from the seller accounting system and creating an electronic financial record corresponding to each of at least some of the accounts receivable records downloaded from the provider accounting system, the financial records recording a financial data subset of all of the data recorded in a downloaded accounts receivable record, the financial data subset corresponding substantially to financial aspects of the downloaded accounts receivable records, and means for storing the financial accounts receivable in a mass storage device located at a location of the seller;
means for creating an electronic goods or services record corresponding to each of at least some of the accounts receivable records downloaded from the seller accounting system, the electronic goods or services records recording a subset of all of the data recorded in a downloaded accounts receivable, the data subset corresponding substantially to goods or services aspects of the downloaded accounts receivables, and means for storing the goods or services provided record in a mass storage device located at a seller location;
means for searching the financial records and identifying records that have a date specified in the date field of the record within a predetermined period to identify a pool of accounts receivable records, with the records a specifying corresponding periodic pool of accounts receivable; and
means for creating an electronic periodic pool record corresponding to the identifed pool of accounts receivable records.
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Accused Products
Abstract
A computerized system that will allow healthcare providers to access the commercial paper market by “selling” their patient claims to asset backed commercial paper conduits. The system generates the statistical information on the historic collection experience of the provider'"'"'s claims required by both the rating agencies and the sponsors of the conduits. This statistical information has two pieces: the net collectible value matrix showing the percentage of the claim actually paid by individual payers; and a collection histogram showing the timing of the payers payments from the date of initial billing. The system also generates the accounting detail necessary for controlling and auditing the provider'"'"'s participation in the commercial paper conduit prog=The system tracks “periodic pools” of claims so as to be able to reconcile advances, collections, interest expense, third party fees and cash settlements between conduits and providers. This statistical information has two pieces: the net collectible value matrix showing both the percentage of the claim actually paid by individual payors and the standard deviation of this percentage; and a collection histogram showing the timing of the payors'"'"' payments from the date of initial billing.
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Citations
26 Claims
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1. A system for processing electronic accounts receivable records, each specifying an account receivable recorded in one or more computer systems for a seller of the account receivable, each accounts receivable record including (i) a date field specifying a date for the account receivable, (ii) a financial data portion specifying an amount billed to be paid by a payor, and (iii) goods or services data portion specifying information about the goods or services provided for the amount billed, comprising:
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means for downloading accounts receivable records from the seller accounting system and creating an electronic financial record corresponding to each of at least some of the accounts receivable records downloaded from the provider accounting system, the financial records recording a financial data subset of all of the data recorded in a downloaded accounts receivable record, the financial data subset corresponding substantially to financial aspects of the downloaded accounts receivable records, and means for storing the financial accounts receivable in a mass storage device located at a location of the seller;
means for creating an electronic goods or services record corresponding to each of at least some of the accounts receivable records downloaded from the seller accounting system, the electronic goods or services records recording a subset of all of the data recorded in a downloaded accounts receivable, the data subset corresponding substantially to goods or services aspects of the downloaded accounts receivables, and means for storing the goods or services provided record in a mass storage device located at a seller location;
means for searching the financial records and identifying records that have a date specified in the date field of the record within a predetermined period to identify a pool of accounts receivable records, with the records a specifying corresponding periodic pool of accounts receivable; and
means for creating an electronic periodic pool record corresponding to the identifed pool of accounts receivable records. - View Dependent Claims (2)
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3. A system for processing electronic accounts receivable records, each specifying an account receivable recorded in one or more computer systems for a seller of the account receivable, each accounts receivable record including (i) a date field specifying a date for the account receivable, and (ii) a financial data portion specifying an amount billed to be paid by a payer, comprising:
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means for searching the accounts receivable records and identifying records that have a date specified in the date field of the record within a predetermined period to identify a pool of accounts receivable records, with the records a specifying corresponding periodic pool of accounts receivable;
means for creating an electronic periodic pool record corresponding to the pool of accounts receivable records;
means for recording a pool advance amount in a field of the electronic periodic pool record representing an amount to be advanced against a value of the periodic pool of accounts receivable; and
means for electronically transferring the electronic periodic pool record to a central processing system. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 24, 25)
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23. A system for processing electronic accounts receivable records each specifying an account receivable recorded in one or more computer systems for the seller of the account receivable, each accounts receivable record including (i) a date field specifying a date for the account receivable, and (ii) a financial data portion specifying an amount billed to be paid by a payor and an amount paid on the corresponding amount billed, comprising:
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means for searching the accounts receivable records and identifying records that have a date specified in the date field of the record within a predetermined period to identify a periodic pool of account receivables representing a corresponding periodic pool of accounts receivable;
means for creating a new electronic periodic pool record corresponding to a periodic pool of accounts receivable that have not yet had an amount advanced against them by a third party;
means for recording a pool advance amount in a field of the new electronic periodic pool record representing an amount to be advanced against a value of the periodic pool of the accounts receivable;
means for searching the accounts receivable records for records corresponding to periodic pools of accounts receivable other than those corresponding to the new periodic pool record, and for determining a total amount paid for each of the other periodic pools from the accounts receivable records corresponding to the other periodic pools; and
means for transferring a master electronic record to a central processing system, the master electronic record including the pool advance amount specified in the new electronic periodic pool record and an amount collected for each of the other periodic pools which showed collections in the accounts receivable records.
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26. A system for processing electronic accounts receivable records each specifying an account receivable originating in one or more accounting systems for a seller of the account receivable, each accounts receivable record including (i) a date field specifying a date for the account receivable, and (ii) a financial data portion specifying an amount billed to be paid by a payor and an amount paid on the corresponding amount billed, comprising:
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means located at the seller'"'"'s location for transmitting accounts receivable records to an electronic data interchange system; and
processing means including;
(a) means for receiving accounts receivable records from the electronic data interchange system and for searching the accounts receivables records and identifying records that have a date specified in the date field of the record within a predetermined period to identify a periodic pool of accounts receivables representing a corresponding periodic pool of accounts receivable;
(b) means for creating a new electronic periodic pool record corresponding to a periodic pool of accounts receivables that have not yet had an amount advanced against them by a third party;
(c) means for recording a pool advance amount in a field of the new electronic periodic pool record representing an amount to be advanced against a value of the periodic pool of accounts receivable;
(d) means for searching the accounts receivable records for records corresponding to periodic pools of accounts receivables other than those corresponding to the new periodic pool record, and for determining a total amount paid for each of the other periodic pools from the accounts receivable records corresponding to the other periodic pools; and
(e) means for transmitting a master electronic record to a central processing system, the master electronic record including the pool advance amount specified in the new electronic periodic pool record and an amount collected for each of the other periodic pools which showed collections in the accounts receivable records.
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Specification