AllMedFund™: How the Program Works

Unlike most medical working capital solutions, the product encompasses both patient and 3rd party insurance receivables.

The proprietary sophisticated algorithm within the eRevMed structure enables discounting for Asset-Based Lending to take place against the Net Realized Value of the Claim. Additionally, the tiering structure inherent in the eRevMed system enables the claim pool and patient pool of receivables to be tiered according to invoice age, thus eliminating the cliff effect that can occur on a borrowing base.

The bank or financial institution can determine their level of funding involvement by funding on the insurance receivables, the patient receivables, neither, or both.

In all of the above cases, the bank would:

1. Joint-market the product with Unalisys
2. Maintain the deposit relationship with the doctor or hospital
3. Maintain a customer relationship with the doctor or hospital

In all of the above cases, Unalisys would provide all of the back office processing including:

1. Claim validation (insurance receivables)
2. Invoice validation (patient receivables)
3. Notification of address redirection (to bank’s lockbox)
4. Collections (of all insurance claims and patient receivables

This specially designed medical working capital solution works as follows:

I. Provider or Provider’s billing company generates claim(s) and submits to AllMedFund (AMF)
	Provider		Claims
II. validates each individual claim      a. Validated claims go into the Provider's AMF pool
			Validated Claims		AMF Account
b. Un-validated Claims are fixed and the process goes back to Step 1
			Un-validated Claims		Provider
III. AMF electronically submits validated claim(s) to Insurance Company
			Validated Claims		Insurance Co.
IV. AMF calculates the Net Realized Value (NRV) of the claim by reviewing contractual agreements, co-pay and patient deductible data, and prepares an "estimated" patient statement to be sent to patient
			Estimated Patient Statement		Patient
V. At Provider's request, he/she can receive advances of 65%-90%* of the Net Realized Value (NRV) of validated claims available in the AMF pool. (The advance percentage is determined solely by the bank.) *depending on specialty
			65%-90% of NRV		Provider
VI. AMF follows up on claims with Insurance Company to speed up the collections process
			Claims		Insurance Co.
VII. Insurance Company remits payment to AMF lockbox. Electronic EOB is transmitted to AMF and Provider
	Insurance Co.		Payment & EOB
			EOB		Provider
VIII. AMF subtracts the processing fee and interest due from payment, after posting payment in the AMF system, and rebate is paid to Provider
			Rebate		Provider
IX. AMF adjusts "estimated" patient statement and generates "actual" patient invoice to be sent to Patient
			Patient Invoice		Patient
X. AMF, or bank, lends money to Provider against Patient invoices (percentage determined by aging of patient invoice pool and interest pre-determined by bank)
			Loan against Patient Invoice(s)		Provider
XI. AMF carefully follows up with Patients to collect on Patient Invoices
			Patient Invoice Follow-up		Patient
XII. Patient pays invoice directly to the AMF lockbox set up at the bank
	Patient		100% Invoice Payment
XIII. AMF subtracts the processing and collection fee and interest due from patient payment and pays rebate to Provider
			Rebate		Provider