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Tracking bills and properly paying them is one of the most important components of a claim system. ClaimZone Enterprise Edition handles claim finances all the way from the receipt of the first bill, to third party bill review, to cutting checks for providers, claimants, and other payees. A full history of financial transactions is kept for each claim, as are histories for each provider/payee.
Some components of the Financial Module are described by the links below.
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The Financial Summary screen shows a "snap shot" of the
claim's Reserves, Payments, Refunds, etc. It gives you an overview
of all the expenses associated with a claim. The screen below shows
a sample Financial Summary. Notice the different columns, and the
total listed at the bottom. |
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A Pay Code is a category for a reserve, or an expense. For example,
if you want to track how much your organization is spending on legal
fees, you will need to select the "Legal Fees" Pay Code
each time you make a payment for that particular expense category.
Pay Codes are initially defined in the ClaimZone Admin program.
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The Reserve List screen shows all the reserves that have been created/defined
for a claim. Some claims may only have one reserve definition, whereas
others may end up having a long list of reserves. |
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The Reserve Worksheet is a powerful tool for the claim adjuster.
Using the worksheet, the adjuster may set reserves for as many
pay codes (expense categories) as needed, all on the same screen.
The worksheet is a tool for defining/creating reserves. Other
benefits include:
- Worksheets may be saved and worked on over several sessions.
Worksheets do not need to be completed in one setting.
- Worksheets are given a descriptive name for easy recall down
the road.
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A Payment Request is an invoice, bill, or some other form of request
for payment. For example, a physician may send a bill to an employer
for the treatment of an employee. The Payment Request screen is
used to view and enter the requests. Individual permissions may
be created to allow/not allow individuals access to this screen. |
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Once a Payment Request, or bill, has been entered you then need
to approve it for payment. Some Payment Requests will go through
automatically; these are known as Auto-Pays. For example, your organization
may have an arrangement with a doctor who will always charge you
the same amount for certain procedures, or perhaps for office visits.
That doctor's bills do not need to be approved each time they come
in - they have already been pre-approved.
For all other payment requests, your organization likely has
some sort of process for approving payments. In ClaimZone, Payment
Requests can be approved one at a time, or in batch. |
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ClaimZone Enterprise Edition utilizes CheckZone, a companion product,
for printing checks. Once a Payment Request has been approved for
payment, it is placed in a queue where CheckZone can pick it up
and print it. This is typically done in a batch mode, meaning that
through the course of a day, or week, as Payment Requests are approved,
they are saved and at pre-determined times CheckZone picks up all
the requests in the batch and prints them at the same time. |
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The Scheduled Payments feature provides Adjusters with the ability
to schedule payments in advance. For example, an Adjuster may know
that an injured worker will be out of work for eight weeks. Rather
than having to set up eight individual Tasks to remind herself to
create a Payment Request for eacy weekly indemnity payment, the
Adjuster may create a single entry from the Scheduled Payments screen.
Scheduled Payment may be created for any amount, and for any duration.
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In ClaimZone it is very easy to see a history of all claims ever
paid on a claim. You may also filter the history list to show only
payments made within a certain date range, or to a certain vendor.
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Contact Us
1.888.533.1122
info@mvsc.com
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