Success stories




Factoring Automation System

Infomedics Medical Factoring (IMF) - The Netherlands.



IT solution that would provide a quick and reliable method to settle 100 000 invoices per week.

Factoring Automation System (FAS) that takes care of all invoices, no matter if they should be delivered to the Insurance Company or to a Debtor, and no matter how the patient is insured.

Today's medical providers are facing greater challenges than ever before, and their receivables have become a priority to them. It is all because of increasing practice costs, greater demands on cash flow and the nature of insurance regulations that are connected with loads of paperwork. Every year receiving full reimbursement for services is more difficult which explains why the medical factoring became so popular. But efficient factoring requires an efficient software system. And that’s why the FAS system was created.


Marek Ulanowski
CEO, Infoprojekt

Solution



FAS is placed between Healthcare Providers that host medical services to Patients and Debtors or Insurance Companies that provide payments for such services. Thanks to FAS the client buys invoices for medical treatments from HCP’s, manages money collecting process according to defined business rules and sends payments to HCP’s bank accounts. On the other hand FAS is invoicing Debtors or redirecting invoices to IC’s.

FAS cooperates with Banks for receiving and sending payments, with Insurance Companies (IC) for receiving information and money promises for insured patients, with Debtors for sending them invoices in case IC does not pay, with a Printing House for creating paper documents being sent to debtors and with COVerServer for determining the insurance status of patients.

Sample scenario



  1. A Healthcare Provider Invoice (HPI) is delivered by a Healthcare Provider (HCP).
  2. System validates and reads the HPI and checks the insurance status of Patients.
  3. System notifies HCP by creating and sending the HPI Confirmation Report to HCP.
  4. System produces appropriate invoices depending on Patient/Debtor details, Patient insurance status, and HCP preferences.
  5. System sends invoices to Insurance Companies and/or Debtors.
  6. System receives responses from Debtors, Insurance Companies and HCP.
  7. Payment Files are delivered from Bank to the System.
  8. System automatically matches Incoming Payments with Invoices or sends Unmatched Payments back.
  9. If the Payments File does not contain whole information about Incoming Payments, they can be matched manually by Financial Officer using GUI.
  10. System calculates HCP Payments and sends them to the appropriate HCP.

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