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Secure Payments
Payments are secured against unauthorized disbursement by the integrated
application security. System users have limits on the amount they can
authorize for payment.
ClaimPay provides supports for a number of Payment Types including: one
off payments, recurring, reimbursement, and invoice payments.
Payment Period
This supports a range of dates where there are multiple and recurring payments
within the date range. Payments can be scheduled over a period of time and will
be released from the payment queue on specific dates. When a payment is completed
it is stored as part of the payment history and can be stored as part of the
claim file.
Offsets/Deductions
Many payments require offsets and deductions. These can be added manually to
a payment or they can be automated based on plan approved offsets and deductions
and can be driven by rules defined by the user.
Benefit Options
A benefit option is an abstract representation of a plan, policy and/or rider
depending on the structure of the customer’s administration system. ClaimVantage’s
representation of benefits is very flexible using the ACORD standards derived
Policy Integration Layer™ an architectural component unique to ClaimVantage.
The Policy Integration Layer™ gives ClaimVantage the ability to integrate
with a customer’s Policy Administration System whether it is a home grown
system or a vendor system.
Payment History
When a payment is completed by the system that prints the checks or transmits
the Electronic Funds Transfer (EFT), the ClaimPay module will receive a data
feed that contains specific information about the payment such as check number
and data printed. This information is stored in the payment history of the claim
file.
Over/Under Payment
Over and under payment calculations are automatically calculated when the payment
data of previous payments is modified.
Explanation of Benefits
An EOB can be displayed and printed on demand and also included with the check
and EFT if required.
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