ACSAS (automated claims settlement acceleration system)
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United States of America Patent
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N/A
Issued Date -
N/A
app pub date -
Apr 1, 2003
filing date -
Apr 1, 2002
priority date (Note) -
Abandoned
status (Latency Note)
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Abstract
An automated claims settlement acceleration system for the healthcare industry, which allows providers to receive immediate payment or re-imbursement at the point of service or time of confirmation of claim acceptance by the insurance entity. The system includes a software application which creates and manages a transactional relationship between the healthcare providers electronic claims submission platform of choice, the insurance entity's electronic response function for confirmed or approved claims, and a third party financial institution. The software application identifies and interprets the insurance entity's electronic response function signal and then uses that signal, or the information within, to execute electronic payment instructions, which direct the third party financial institution to execute a direct deposit transaction to an account designated for the healthcare provider.
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