Method and system for providing bundled electronic payment and remittance advice

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:

• 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.