US Patent No. 8,442,903
Abstract: An internet-based system for organization and collection of specialized debt that is delinquent; an example of specialized debt being healthcare debt.
Description: This patient is a divisional of U.S. patent application Ser. No. 13/064,806; now U.S. Pat. No. 8,234,209, which is a continuation application of U.S. patent application Ser. No. 12/068,041; now U.S. Pat. No. 7,949,597. This patent has material implications for the U.S. debt markets as a whole in that It extends exclusivity and protection to TriCap Technology Group and its core ARxChange platform over the organization, sorting, ranking, valuing, and posting of debt and accounts receivable for servicing or purchasing across all U.S. consumer markets, not only those derived from the healthcare industry.
1) A method of organizing delinquent specialized debt to obtain a portfolio of specialized debt, the method comprising:
(1) providing a secure website on the internet for access by at least one holder of specialized debt;
(2) obtaining over the website at least one segment of the delinquent specialized debt from the at least one holder, wherein the specialized debt is disorganized; and
(3) organizing by a computer the at least one segment of delinquent specialized debt into a portfolio of specialized debt, wherein the portfolio of specialized debt has a value that is presentable to a community of selective buyers for bidding on said portfolio; wherein the step of organizing comprises:
(a) sorting the at least one segment of delinquent specialized debt by sorting parameters to obtain a sorted segment of delinquent specialized debt;
(b) ranking the sorted segment of debt by a ranking parameter to obtain a ranked segment of delinquent specialized debt; and
(c) scoring the ranked set of debt by a scoring parameter to obtain a portfolio of specialized debt, wherein the portfolio of specialized debt has a value that is presentable to a community of selective buyers of said portfolio for bidding on said portfolio; wherein the sorting parameters comprise, for each specific delinquent account:
(a) outstanding unpaid balance;
(b) age of account;
(c) prior collection history;
(d) demographics of the debtor profile, based on household income and home value;
(e) geographic distribution of debtor, based on a parameter which is a member selected from a state and a zip code;
(f) type of service provided to the debtor, wherein the type of service is based on standardized industry diagnostic codes;
(g) date of service provided; and
(h) type of debtor/payer classification, the type being a member selected from the group consisting of individual, insurance provider, and government provider.
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