System for invoice record management and asset-backed commercial

Details System for invoice record management and asset-backed commercial System for invoice record management and asset-backed commercial

1994-11-09

2000-06-06

Poinvil, Frantzy

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

G06F15700

Patent

active

060731044

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.

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P. Humphreys, "Securitization of Health Care Receivables," Annual New York Conference on Structured Finance (Oct. 1991).
"Asset-Backed Commercial Paper," Discussion Memorandum from Lehman Brothers (Dec. 7, 1993).
"The Hearts.SM. Program" For the Sale of Healthcare Accounts Receivable, Lehman Brothers.
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Summit Funding Corp., Private Placement Memorandum for $30 million, Merril Lynch & Co. (Apr. 30, 1993).

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