CPT Code Search Engine for Healthcare Debt Bundling
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Solution Overview
Problem
The rising cost of healthcare and the increasing number of uninsured or underinsured individuals lead to challenges in accessing affordable medical services, with patients facing significant financial burdens and difficulty in obtaining further medical services due to unpaid bills, necessitating an efficient mechanism for finding discounted services and managing healthcare debt.
Innovation Solution
A CPT Code-based search engine for backend bundling of healthcare services and a virtual payment system that allows consumers to pay for bundled healthcare services with a single payment, distributing it to multiple providers, and converting debt into tradeable health assets, enabling efficient payment and resolution of surprise bills through an asset exchange platform.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional healthcare payment systems are used, then providers receive payment for services, but patients face significant financial burdens and difficulty accessing affordable medical services
Solution Approach 1:
The patent introduces a CPT code search engine and virtual payment system as an intermediary between patients and healthcare providers. This intermediary consolidates multiple provider bills into a single bundled payment, simplifying the payment process for patients while ensuring providers receive appropriate compensation through the distribution mechanism
Solution Approach 2:
The system merges multiple separate healthcare service payments into a single bundled payment based on CPT codes. By combining multiple payments into one transaction, the system reduces administrative complexity for patients and enables more efficient payment processing while maintaining the ability to distribute funds to multiple providers
2Ease of operation
If multiple separate payments are required for different healthcare providers, then each provider receives payment, but patients face complexity in managing multiple bills and payments
Solution Approach 1:
The system combines multiple separate billing transactions into a single consolidated payment transaction. The CPT code search engine aggregates services from multiple providers into one bundled payment, dramatically simplifying payment management for patients while reducing administrative overhead
Solution Approach 2:
The virtual payment system performs multiple functions through a single platform: it consolidates billing, processes payments, distributes funds to multiple providers, and provides transparency through CPT code tracking. This multi-functional approach eliminates the need for separate payment systems for each provider
3Reliability
If uninsured or underinsured individuals seek medical services, then they receive necessary care, but they accumulate significant financial debt that prevents access to future services
Solution Approach 1:
The system changes the payment structure parameter from multiple separate high-cost transactions to a single bundled payment with transparent CPT code breakdown. This parameter change enables uninsured and underinsured patients to understand and manage their financial obligations more effectively, reducing the barrier to accessing necessary care
Data Source
AI summary
A CPT-Code search engine for backend bundling of healthcare services and a virtual payment system. Various implementations provide a CPT Code-based search engine for backend bundling by an aggregate billing source to transact and pay debt owed for healthcare services on behalf of consumers of varied healthcare services from diverse providers and facilities. Various implementations provide a predetermined bundled set of healthcare services defined by CPT and related codes producing search results in an easy-to-understand consumer-friendly format. Also presented is an apparatus and associated methods for bundling the debt of a plurality of healthcare services downstream from a healthcare service provider based on collecting a single payment from a consumer that has already received the healthcare services and distributing payment to a plurality of providers and facilities for at least one of the healthcare services. Some backend bundled services and debt may be converted to tradeable health assets.