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

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.

1 - 26 . (canceled)  
   
   
       27 . A method 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) a goods or services data portion specifying information about the goods or services provided for the amount billed, comprising: 
 downloading the 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 seller 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 storing the financial records in a mass storage device located at a location of the seller; 
 creating an electronic goods or services record corresponding to each of at least some of the accounts receivable records downloaded from the seller computer systems, the electronic goods or services records recording a subset of all of the data recorded in the downloaded accounts receivable records, the data subset corresponding substantially to goods or services aspects of the downloaded accounts receivables records, and storing the goods or services provided record in a mass storage device located at a seller location; and  
   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 specifying a corresponding periodic pool of accounts receivable.    
   
   
       28 . A method according to  claim 27  further including creating an electronic periodic pool record corresponding to the identified pool of accounts receivable records; 
 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    electronically transferring the electronic periodic pool record to a one or more processing systems.    
   
   
       29 . A method 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 payor, comprising: 
 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;    creating an electronic periodic pool record corresponding to the pool of accounts receivable records;    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;    electronically transferring the electronic periodic pool record to one or more processing systems; and    further wherein each accounts receivable record specifies an amount paid on the account receivable and further including periodically determining an amount paid for the accounts receivable in the corresponding periodic pool by electronically reviewing the amount paid specified in each account receivable record in the periodic pool, and reporting a performance profile for one or more of the periodic pools indicating the collections obtained.    
   
   
       30 . A method according to  claim 29  further including maintaining an electronic accounting data for each periodic pool represented by a periodic pool record, and for preparing financial statements from the electronic accounting data.  
   
   
       31 . A method according to  claim 29  further wherein the one or more processing systems are used to preparing reports for a third party advancing money against a periodic pool represented by a periodic pool record, and wherein the reports specify compliance with third party restrictions on advances against periodic pools.  
   
   
       32 . A method according to  claim 29  further including determining the pool advance amount using the amount billed specified in the financial data portion of the accounts receivable records.  
   
   
       33 . A method according to  claim 29  further including determining an advance amount for each of the accounts receivable in the pool and using the determined advance amounts to determine the pool advance amount.  
   
   
       34 . A method according to  claim 33  further including determining the advance amount for each account receivable in the pool based on payor.  
   
   
       35 . A method according to  claim 29  further wherein there is more than one seller, each of whom may have one or more locations and wherein said electronically transferring is provided at each seller location; and wherein the one or more processing systems are installed at a position remote from at least one of the seller locations.  
   
   
       36 . A method according to  claim 29  further including electronically transferring an electronic record to a remote location of a third party advancing money against the periodic pool of accounts receivable, the electronic record indicating the value of the periodic pool of accounts receivable.  
   
   
       37 . A method according to  claim 29  further including recording in each periodic pool record a collection value representing an amount paid on the accounts receivable in the periodic pool record.  
   
   
       38 . A method according to  claim 37  further including determining the collection value representing an amount paid using the financial data portion of an accounts receivable record and wherein said financial data portion specifies an amount paid.  
   
   
       39 . A method according to  claim 37  further including receiving an electronic record specifying a payment received value representing an amount of payments received by a third party which has the right to collect payments made on amounts billed in a periodic pool corresponding to a periodic pool record.  
   
   
       40 . A method according to  claim 39  further including reconciling payment received values to amount paid values from periodic pool records.  
   
   
       41 . A method according to  claim 29  further including creating an electronic accounts receivable 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 receivables, and storing the financial accounts receivable in a mass storage device located at a location of the seller.  
   
   
       42 . A method according to  claim 29  further wherein each accounts receivable record includes a (iii) goods or services data portion specifying information about the goods or services provided for the amount billed, and further wherein the system includes 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 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 storing the goods or services provided record in a mass storage device located at a seller location.  
   
   
       43 . A method according to  claim 29  further wherein the financial data portion of each account receivable record further specifies a payor for the account receivable.  
   
   
       44 . A method according to  claim 43  further including looking up the collectibility statistics according to the payors specified in the accounts receivable records.  
   
   
       45 . A method according to  claim 44  further including reporting the performance of the periodic pools according to which payor is responsible for paying accounts receivable in the periodic pool.  
   
   
       46 . A method according to  claim 44  including analyzing collection data specified in accounts receivable records to determine current collection statistics and comparing the historical collection statistics with the current collection statistics.  
   
   
       47 . A method according to  claim 46  further wherein the one or more processing systems includes receiving the master electronic record and for maintaining electronic financial accounting data on each periodic pool.  
   
   
       48 . A method according to  claim 29  further wherein each accounts receivable record specifies an amount paid on the account receivable and further including periodically determining an amount paid for the accounts receivable in the corresponding periodic pool by electronically reviewing the amount paid specified in each account receivable record in the periodic pool, and reporting a performance profile for one or more of the periodic pools indicating the collections obtained.  
   
   
       49 . A method according to  claim 29  further including processing historic accounts receivable records specifying payment history to determine collection timing statistics indicating when amounts billed normally get paid.  
   
   
       50 . A method 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: 
 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;    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;    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;    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;    transferring a master electronic record to one or more processing systems, 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; and    wherein each accounts receivable record specifies an amount paid on the account receivable and further including periodically determining an amount paid for the accounts receivable in the corresponding periodic pool by electronically reviewing the amount paid specified in each account receivable record in the periodic pool, and reporting a performance profile for one or more of the periodic pools indicating the collections obtained.    
   
   
       51 . A method according to  claim 50  further wherein the one or more processing systems includes receiving collections data from a third party and reconciling collection data from the third party with the collection data for each periodic pool for which financial accounting data is maintained on the one or more processing systems.  
   
   
       52 . A method 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: 
 transmitting from the seller's location accounts receivable records to an electronic data interchange system; and    data processing including:    (a) 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) 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) 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) 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) transmitting a master electronic record to one or more processing systems, 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.    
   
   
       53 . A method for processing electronic medical accounts receivable records, each specifying a receivable recorded in one or more computer systems for a seller of the account receivable, each accounts receivable record storing data 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) a goods or services data portion specifying information about the medical goods or medical services provided for the amount billed, comprising: 
 reading the data in the accounts receivable records;    using the data read from the accounts receivable records to create one or more electronic pool records, the one or more pool records specifying an amount to be advanced against one or more of the accounts receivables represented in said accounts receivable records;    recording funds received by said seller for said amount to be advanced;    creating an electronic record which records the identity of accounts receivables against which said funds have been advanced; and    wherein each accounts receivable record specifies an amount paid on the account receivable and further including periodically determining an amount paid for the accounts receivable in the corresponding periodic pool by electronically reviewing the amount paid specified in each account receivable record in the periodic pool, and reporting a performance profile for one or more of the periodic pools indicating the collections obtained.    
   
   
       54 . A method according to  claim 33  further including using the date read from the accounts receivable records to calculate said sum based on a pool of individual accounts receivable having one or more particular dates.  
   
   
       55 . A method according to  claim 33  further including using the payor read from the accounts receivable records to calculate said sum based on a pool of individual accounts receivable having one or more particular payors.  
   
   
       56 . A method according to  claim 33  further including extracting the date read from the accounts receivable records to calculate said sum based on a pool of individual accounts receivable having one or more particular ages.  
   
   
       57 . A method for processing electronic accounts receivable records, comprising: 
 one or more computer systems for a seller of an account receivable, the account receivable represented by accounts receivable records, each accounts receivable record specifying 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) a goods or services data portion specifying information about the goods or services provided for the amount billed; 
 downloading the accounts receivable records from the seller accounting system to one or more other computer systems;  
   the one or more other computer systems including: 
 creating an electronic financial record corresponding to each of at least some of the accounts receivable records downloaded from the seller accounting system, the financial records recording a financial data subset 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;  
   storing the financial records in a mass storage device located at a location of the seller;    creating all electronic goods or services record corresponding to each of at least some of the accounts receivable records downloaded from the seller computer systems, the electronic goods or services records recording a subset of the data recorded in the downloaded accounts receivable records, the data subset corresponding substantially to goods or services aspects of the downloaded accounts receivable records;    storing the goods or services provided record in a mass storage device located at a seller location;    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 specifying a corresponding periodic pool of accounts receivable; and transmitting at least a portion of said pool of accounts receivable records which have been identified to a remote computer system located remotely from the one or more other computer systems.    
   
   
       58 . A method 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 payor, comprising: 
 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;    creating an electronic periodic pool record corresponding to the pool of accounts receivable records;    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;    electronically transferring the electronic periodic pool record to a one or more processing systems; and    further wherein the financial data portion of each account receivable record further specifies a payor for the account receivable and the system includes looking up the collectibility statistics according to the payors specified in the accounts receivable records.    
   
   
       59 . A method 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: 
 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;    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;    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;    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;    transferring a master electronic record to a one or more processing systems, 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; and    further wherein the financial data portion of each account receivable record further specifies a payor for the account receivable and the system includes looking up the collectibility statistics according to the payors specified in the accounts receivable records.    
   
   
       60 . A method for processing electronic medical accounts receivable records, each specifying a receivable recorded in one or more computer systems for a seller of the account receivable, each accounts receivable record storing data 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) a goods or services data portion specifying information about the medical goods or medical services provided for the amount billed, comprising: 
 reading the data in the accounts receivable records;    using the data read from the accounts receivable records to create one or more electronic pool records, the one or more pool records specifying an amount to be advanced against one or more of the accounts receivables represented in said accounts receivable records;    recording funds received by said seller for said amount to be advanced;    creating an electronic record which records the identity of accounts receivables against which said funds have been advanced; and    further wherein the financial data portion of each account receivable record further specifies a pay or for the account receivable and the system includes looking up the collectibility statistics according to the payors specified in the accounts receivable records.