What is our Payment Processing
The automated payment processing does involve both the approval of payments as well as the payments actual transfer. Once the claims are submitted, care commerce does automatically check the claim amount, and if the claim amount is less than the service amount, it sends a notification to the client to pay the rest of the amount on behalf of the provider.
Care commerce will verify and validate the payment account after receiving client guidelines established by the providers in the systems. Through Colakin Care, payments and send payments to suppliers and providers in accordance with the suppliers and providers can view the payment information, and we make the payment through API and is fully automated, where the money is directly sent to the bank account. The frequency of receiving payment statements is up to the provider.
Technology
For the purpose of streamlining and automating the entire payment process, our automated payment processing technology interfaces with banks and the government. To provide a more seamless, automated wire-payments procedure, the platform gathers and standardises data items including payment amount, beneficiary, and account details using cutting-edge machine-learning techniques.
With the help of Multi tenant and Microservice which develops a single application with the help of small services, our software is API driven.
Payment Mode, We make a payment via API and fully automated, Robust and agile, Validate Payment Details
Use Case
Developed differently for various stakeholders, care commerce is a mobile application i.e. aged care people can book a service for them through the application. Once the service is provided to the aged care person by the supplier, Aged care supplier can upload their invoices for payment settlement and can also list the services on the care commerce application. Aged care suppliers have a variety of options for submitting invoices, including emailing them by Dropbox, email, or the system.
Once the invoices are uploaded, the care commerce platform helps aged care providers to fully automate the analysis and validation of invoices, claim resolution, and claim settlement processes. Through care commerce, providers can see the actual situation of the entire claim process. Aged care providers will be informed if their claim has been granted or refused by the government and will then be paid. If the claim is approved, after receiving the payment, care commerce will examine the payment account and distribute the funds to suppliers and providers in accordance with the policies established by the systems' providers. If the claim amount is less than the service amount, care commerce will automatically check the claim amount and ask the customer to pay the provider on their behalf.Aged care people have the ability to validate an invoice or reject specific invoices and services.
Value to the business
01
Through Colakin Care, providers can receive payments from customers and check payment information, including the timing and amount of the payment. For example, when there is a situation of a client paying the money to the provider for the service that is provided, it can be done very easily through this software.
02
Payment information is recorded in the payment statement, including monthly payments made or the total amount of time a client or supplier has been in operation. This helps in better understanding how the payment mode is done and allows you to go back and check the transactions in future.
03
Colakin Care will check the payment account after receiving customer payments and send supplier payments. Through Colakin Care, suppliers can view the payment information.
04
The frequency at which suppliers receive payment statements is up to them. Payment data are detailed in the payment statement, such as the total number of hours has worked.
05
Colakin Care will automatically check the claim amount and request payment from clients behalf to providers if the claim amount is less than service amount.
06
Reduce costs with the help of integrated data analytics to make decisions with higher profit margins.
Challenges of manual claim processing
01
There will be less transparency when the things are manually processed. Stakeholders don't have exact information about the situation of the claim.
02
Communicating with different stakeholders on a single issue takes a lot of time and effort.
03
Talking and convincing the clients for the excess amount is an issue.
04
When a situation arises to check the transactions that are done in the past, it does consume a lot of time.
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Cutting-edge Invoice Processing
