Abstract: One or more servers (70) are configured to periodically format (90, 92) and send (94) payments (26) to a payee. According to an exemplary embodiment, the payments (26) include a consolidated financial instrument (73) and at least one explanation of explanation of benefit (75) associated with the consolidated financial instrument. The consolidated financial instrument (73) transfers accumulated monies without co-mingling funds in compliance with ERISA regulations. According to an exemplary embodiment, the at least one associated explanation of benefit (75) includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation, and an amount paid. Acceptance of the payment to each payee is recorded (100) in a data store (102).

Abstract: One or more servers (70) are configured to periodically format (90, 92) and send (94) payments (26) to a payee. According to an exemplary embodiment, the payments (26) include a consolidated financial instrument (73) and at least one explanation of explanation of benefit (75) associated with the consolidated financial instrument. The consolidated financial instrument (73) transfers accumulated monies without co-mingling funds in compliance with ERISA regulations. According to an exemplary embodiment, the at least one associated explanation of benefit (75) includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation, and an amount paid. Acceptance of the payment to each payee is recorded (100) in a data store (102).

Abstract: Disclosed is a system and method of providing a complete payment of a medical claim to a medical service provider. According to an exemplary embodiment, multiple insurer/employer payer processers each provide funds associated with an insurer's/employer's portion of a claim and funds associated with the patient's portion of the claim to a central financial interchange settlement process which provides a complete payment to the medical service provider. According to an exemplary embodiment, the financial interchange is operatively associated with a patient reserve trust which operates as a guarantor of the patient portion funds paid to the medical service provider in the event the patient's adjudicated portion is ultimately unpaid by the patient.

Abstract: One or more servers (70) are configured to periodically format (90, 92) and send (94) payments (26) to a payee in an order of preference (62) and a specified payment method until accepted (96). The payments (26) include a consolidated financial instrument (73) and at least one explanation of explanation of benefit (75) associated with the consolidated financial instrument. The consolidated financial instrument (73) transfers accumulated monies without co-mingling funds in compliance with ERISA regulations. The at least one associated explanation of benefit (75) includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation, and an amount paid. Acceptance of the payment to each payee is recorded (100) in a data store (102).

Abstract: Segregated employer group settlement accounts (101, 102, . . . , 10N) receive payments for medical insurance claims and an explanation of benefits (EOB) memory (14) receives an explanation of the medical services of multiple medical service providers against which parts of the payment are to be applied and explanations of amounts due by individual patients. An electronic sorting and transfer processor (16) in accordance with the explanations of benefits, electronically transfers funds from each of the employer group settlement accounts into each of a plurality of medical service provider settlement accounts (261, 262, . . . 26M) without co-mingling funds. The funds from the service provider settlement accounts are transferred (30) to each medical service provider's banking institution (32) concurrently with an electronic transfer of the corresponding EOBs to the medical service provider's accounting system (34).

Abstract: One or more servers (70) are configured to periodically format (90, 92) and send (94) payments (26) to a payee in an order of preference (62) and a specified payment method until accepted (96). The payments (26) include a consolidated financial instrument (73) and at least one explanation of explanation of benefit (75) associated with the consolidated financial instrument. The consolidated financial instrument (73) transfers accumulated monies without co-mingling funds in compliance with ERISA regulations. The at least one associated explanation of benefit (75) includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation, and an amount paid. Acceptance of the payment to each payee is recorded (100) in a data store (102).

Abstract: One or more servers (70) are configured to periodically format (90, 92) and send (94) payments (26) to a payee in an order of preference (62) and a specified payment method until accepted (96). The payments (26) include a consolidated financial instrument (73) and at least one explanation of explanation of benefit (75) associated with the consolidated financial instrument. The consolidated financial instrument (73) transfers accumulated monies without co-mingling funds in compliance with ERISA regulations. The at least one associated explanation of benefit (75) includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation, and an amount paid. Acceptance of the payment to each payee is recorded (100) in a data store (102).