Systems and methods for health care credit transactions

• US 8,620,687 B2
• Filed: 07/18/2013
• Issued: 12/31/2013
• Est. Priority Date: 10/14/2011
• Status: Active Grant

• Current Assignee: Stage 5 Innovation, LLC
• Original Assignee: Stage 5 Innovation, LLC
• Inventors: Saidel, Andrew M., Rosen, David K.
• Primary Examiner(s): NGUYEN, TRAN N
• Application Number:
  US13/945,288
• Publication Number:
  US 20130304497A1
• Time in Patent Office: 166 Days
• Field of Search: 705/2
• US Class Current: 705/2
• CPC Class Codes: G06Q 10/10 Office automation; Time management
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 40/04 Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G06Q 40/06 Asset management; Financial planning or analysis
• CPC Class Codes: G06Q 40/08 Insurance

Abstract

Systems, methods, and computer program media for creating, managing, backing, and transferring health care credits are described. Health care credits may be implemented as freely transferable financial instruments whose initial value can be based on costs or savings generated by an individual, or by a health care provider, that are associated with a health-related metric or a health benefiting behavior(s).

Claims

1. A method, implemented using a computing system, of managing a health care credit, the method comprising:

receiving a metric measuring health, maintenance of health, or an improvement in health for an individual;

calculating, using the computing system, an amount of freely transferable non-monetary consideration to award to the individual based on the metric; and

updating, using the computing system, a health care profile associated with the individual by storing the metric and the calculated amount of freely transferable non-monetary consideration in a storage device that includes the health care profile.

2. The method of claim 1, further comprising:

transmitting data representing the metric and the calculated amount of freely transferable non-monetary consideration from the health care profile to an entity.

3. The method of claim 2, wherein the entity is a financial services company.

4. The method of claim 3, wherein the financial services company is a health care derivative administrator.

5. The method of claim 2, wherein the entity is a data repository for health care data.

6. The method of claim 2, wherein the entity is a health insurer.

7. The method of claim 2, wherein the entity is an employer of the individual.

8. The method of claim 2, wherein the entity is a government or a government agency.

9. An apparatus comprising:

a memory containing instructions; and

a processor, operably connected to the memory, that executes the instructions to perform operations comprising;

receiving a metric measuring health, maintenance of health, or an improvement in health for an individual;

calculating an amount of freely transferable non-monetary consideration to award to the individual based on the metric; and

updating a health care profile associated with the individual using the metric and the calculated amount of freely transferable non-monetary consideration.

10. The apparatus of claim 9, the operations further comprising:

transmitting data representing the metric and the calculated amount of freely transferable non-monetary consideration from the health care profile to an entity.

11. The apparatus of claim 10, wherein the entity is a financial services company.

12. The apparatus of claim 11, wherein the financial services company is a health care derivative administrator.

13. The apparatus of claim 10, wherein the entity is a data repository for health care data.

14. The apparatus of claim 10, wherein the entity is a health insurer.

15. The apparatus of claim 10, wherein the entity is an employer of the individual.

16. The apparatus of claim 10, wherein the entity is a government or a government agency.

17. A non-transitory computer-readable medium containing instruction that, when executed by a processor, perform operations comprising:

receiving a metric measuring health, maintenance of health, or an improvement in health for an individual;

calculating an amount of freely transferable non-monetary consideration to award to the individual based on the metric; and

updating a health care profile associated with the individual using the metric and the calculated amount of freely transferable non-monetary consideration.

18. The non-transitory computer-readable medium of claim 17, the operations further comprising:

transmitting data representing the metric and the calculated amount of freely transferable non-monetary consideration from the health care profile to an entity.

19. The non-transitory computer-readable medium of claim 18, wherein the entity is a financial services company.

20. The non-transitory computer-readable medium of claim 19, wherein the financial services company is a health care derivative administrator.

21. The non-transitory computer-readable medium of claim 18, wherein the entity is a data repository for health care data.

22. The non-transitory computer-readable medium of claim 18, wherein the entity is a health insurer.

23. The non-transitory computer-readable medium of claim 18, wherein the entity is an employer of the individual.

24. The non-transitory computer-readable medium of claim 18, wherein the entity is a government or a government agency.

25. A method, implemented using a computing system, for administering a health care derivative, the method comprising:

creating the health care derivative, wherein the health care derivative has a monetary value that depends upon fulfilling a condition related to health care, wherein the condition is specified by the health care derivative;

collecting data related to health care and the condition specified by the health care derivative;

determining, using the computing system and from the data, whether the condition has been fulfilled;

increasing, using the computing system, the monetary value of the health care derivative when the condition has been fulfilled.

26. The method of claim 25, wherein the condition related to health care comprises a condition related to a flow of health care credits,

wherein the health care credits represent good health, an improvement in health, a health-benefiting behavior, or maintenance of health.

27. The method of claim 26, wherein the health care credits were created as an award for good health, an improvement in health, or maintenance of health.

28. The method of claim 26, wherein the condition related to a flow of health care credits comprises transferring a specified amount of health care credits to a specified entity.

29. The method of claim 25, further comprising:

decreasing the monetary value of the health care derivative when the condition has not been fulfilled.

30. The method of claim 25, further comprising:

paying, to a holder of the health care derivative, cash in an amount substantially equal to the monetary value of the health care derivative.

31. The method of claim 25, further comprising:

selling the health care derivative.

32. An apparatus comprising:

a memory containing instructions; and

a processor, operably connected to the memory, that executes the instructions to perform operations comprising;

creating a health care derivative, wherein the health care derivative has a monetary value that depends upon fulfilling a condition related to health care, wherein the condition is specified by the health care derivative;

collecting data related to health care and the condition specified by the health care derivative;

determining, from the data, whether the condition has been fulfilled;

increasing the monetary value of the health care derivative when the condition has been fulfilled.

33. The apparatus of claim 32, wherein the condition related to health care comprises a condition related to a flow of health care credits,

wherein the health care credits represent good health, an improvement in health, a health-benefiting behavior, or maintenance of health.

34. The apparatus of claim 33, wherein the health care credits were created as an award for good health, an improvement in health, or maintenance of health.

35. The apparatus of claim 33, wherein the condition related to a flow of health care credits comprises transferring a specified amount of health care credits to a specified entity.

36. The apparatus of claim 32, the operations further comprising:

decreasing the monetary value of the health care derivative when the condition has not been fulfilled.

37. The apparatus of claim 32, the operations further comprising:

paying, to a holder of the health care derivative, cash in an amount substantially equal to the monetary value of the health care derivative.

38. The apparatus of claim 32, the operations further comprising:

selling the health care derivative.

39. A non-transitory computer-readable medium containing instruction that, when executed by a processor, perform operations comprising:

creating a health care derivative, wherein the health care derivative has a monetary value that depends upon fulfilling a condition related to health care, wherein the condition is specified by the health care derivative;

collecting data related to health care and the condition specified by the health care derivative;

determining, from the data, whether the condition has been fulfilled;

increasing the monetary value of the health care derivative when the condition has been fulfilled.

40. The non-transitory computer-readable medium of claim 39, the operations further comprising:

decreasing the monetary value of the health care derivative when the condition has not been fulfilled.

41. The non-transitory computer-readable medium of claim 39, the operations further comprising:

paying, to a holder of the health care derivative, cash in an amount substantially equal to the monetary value of the health care derivative.

42. The non-transitory computer-readable medium of claim 39, wherein the condition related to health care comprises a condition related to a flow of health care credits,

wherein the health care credits represent good health, an improvement in health, a health-benefiting behavior, or maintenance of health.

43. The non-transitory computer-readable medium of claim 39, wherein the health care credits were created as an award for good health, an improvement in health, or maintenance of health.

44. The non-transitory computer-readable medium of claim 39, wherein the condition related to a flow of health care credits comprises transferring a specified amount of health care credits to a specified entity.

45. The non-transitory computer-readable medium of claim 39, further comprising:

selling the health care derivative.