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Average Ratings 0 Ratings

Total
ease
features
design
support

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Write a Review

Description

Functional Finance serves as the engine for insurance billing and payments, managing the flow of money once a policy decision is finalized. Positioned between the policy management system and the general ledger, it processes policy events such as bindings, endorsements, cancellations, and reinstatements, executing the corresponding financial commitments with precision. The system adeptly oversees billing, invoicing, payment collection, cash application, treasury routing, and the payables for distribution partners, accommodating various models like agency bill, direct bill, installments, and premium financing. Payments are systematically applied at both the policy and line-item levels, ensuring that commissions and remittances remain aligned while maintaining an auditable trail for every transaction. Consequently, this results in a financial operations system that is aware of policy details, replacing the need for manual reconciliation with streamlined and scalable processes that enhance operational efficiency. Ultimately, the integration of these functionalities fosters a more reliable and transparent financial environment within the insurance sector.

Description

daisyBill is a digital medical billing platform for workers’ compensation. With a proprietary network of electronic connections to payers and their clearinghouses, daisyBill ensures faster, smoother billing and payment. The system uses a task-based model that tracks each bill through every stage of the reimbursement cycle, prompting administrative teams in handling bills, authorization requests, payments, and appeals for accurate reimbursement. Additionally, daisyBill features daisyWizard, a tool that accurately calculates reimbursements in accordance with state-specific fee schedules, further supporting efficient revenue management. daisyBill’s primary goal is to improve injured workers’ access to healthcare by minimizing billing friction and ensuring that workers’ comp is financially viable for medical providers.

API Access

Has API No 

API Access

Has API Yes 

Screenshots View All

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Screenshots View All

Integrations

No details available.

Integrations

No details available.

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Pricing Details

No price information available.
Free Trial No 
Free Version No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Deployment

Web-Based Yes 
On-Premises No 
iPhone App No 
iPad App No 
Android App No 
Windows No 
Mac No 
Linux No 
Chromebook No 

Customer Support

Business Hours No 
Live Rep (24/7) No 
Online Support No 

Customer Support

Business Hours Yes 
Live Rep (24/7) No 
Online Support Yes 

Types of Training

Training Docs No 
Webinars No 
Live Training (Online) No 
In Person No 

Types of Training

Training Docs Yes 
Webinars Yes 
Live Training (Online) Yes 
In Person No 

Vendor Details

Company Name

Functional Finance

Country

United States

Website

functionalfi.com

Vendor Details

Company Name

daisyBill

Founded

2011

Country

United States

Website

www.daisybill.com

Product Features

Product Features

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