US 7,254,555 B2Granted

System for invoice record management and asset-backed commercial paper program management

AssigneeRichard G. Field

InventorRichard G. Field

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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 program. 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.

Claims2

Dependent claims

Apparatus for processing electronic medical data specifying claims for services rendered, the data specifying an account receivable for a provider of medical services, each claims record including (i) data identifying a patient receiving medical services (ii) a date specifying a date associated with the claim, and (iii) a financial data portion specifying an amount billed for medical services, comprising a first system including one or more processors to execute one or more software components and at least one storage device having stored thereon the one or more software components, wherein the one or more software components are adapted to:

process the electronic medical data and assign claims represented by the data to one or more pools;
create electronic pool data representative of each pool wherein for each pool the data specifies an aggregate value of the medical services for the claims in the pool against which funds may be advanced;
electronically transfer data to a second processing system wherein the data transferred specifies at least one claims pool and the aggregate value for the claims pool, and further wherein the transferred data does hot reveal the type of medical service provided to a particular one of the patients receiving medical services for the claims in the at least one pool;
the second system including one or more software components adapted to:
receive and store the data for the at least one claims pool;
process the data for the at least one claims pool in order to facilitate the financing of the claims pool by a financing entity;
and
one or more processors for executing the one or more software components.

5 more elements

Dependencies are inferred from the claim text.

Facts

Application: 10/145,728Filed 13 May 2002 · continuation
Priority: 9 Nov 1994
Published: US 2002/0133460 A119 Sep 2002
Granted: 7 Aug 2007
Term ends: Not estimatedThe source records don’t support an estimate.

Classification8 codes

G06Q 40/06
Finance; Insurance; Tax strategies; Processing of corporate or income taxes: asset management; Financial planning or analysis
G06Q 10/10
Administration; Management: office automation; Time management
G06Q 20/102
Specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems: bill distribution or payments
G06Q 30/06
Commerce: buying, selling or leasing transactions

Family

Application08/336,531Parent of this continuation · filed 9 Nov 1994
Application09/514,807Parent of this continuation · filed 28 Feb 2000
US 2002/0133460 A1Pre-grant publication · published 19 Sep 2002
US 6,073,104 AParent of this continuation
US 7,254,555 B2This patent

From the US filing history. Foreign family members aren’t listed.