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What is Functional Finance?

Functional Finance acts as the pivotal mechanism for managing insurance billing and payments, efficiently handling the monetary transactions post-policy decisions. Situated between the policy management system and the general ledger, it expertly processes policy-related events such as bindings, endorsements, cancellations, and reinstatements while executing financial obligations with accuracy. This system skillfully manages billing, invoicing, payment collection, cash application, treasury routing, and payables for distribution partners, accommodating diverse models including agency billing, direct billing, installments, and premium financing. Payments are meticulously applied at both the policy level and individual line items, ensuring that commissions and remittances are consistently aligned while providing a clear audit trail for each transaction. As a result, this creates a financial operations framework that is inherently aware of policy specifics, replacing cumbersome manual reconciliation processes with streamlined, scalable practices that significantly boost operational efficiency. The seamless integration of these functionalities not only enhances reliability but also promotes a transparent financial landscape within the insurance industry, ultimately contributing to improved stakeholder trust.

What is BrickMed Office?

Avoid practice management software that confines you to a single electronic health record system. At BrickMed, we prioritize the growth and success of your practice. Our platform offers the versatility to schedule patient appointments efficiently, manage recurring visits seamlessly, and even allows you to export data to third-party reminder systems. By integrating credit card and check processing capabilities, you can enhance the efficiency of front desk payments and checkout procedures. Whether your practice is solely insurance-based, an ambulatory surgery center, or a cosmetic facility that occasionally engages in reconstructive services, the evolving landscape of consumer-driven healthcare demands a practice management solution that empowers your team to handle everything from retail transactions and product sales to traditional insurance billing. In this rapidly changing environment, billing centers must advance beyond simple claim processing to become trusted consulting partners for healthcare providers. BrickMed is dedicated to equipping billing centers with essential tools for success, ensuring that your practice not only survives but flourishes in a competitive market. Our solutions are tailored to adapt to the unique needs of your practice, facilitating effective management and growth in today's challenging healthcare landscape.

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Media

Integrations Supported

Schedula
Sevocity EHR

Integrations Supported

Schedula
Sevocity EHR

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

$2995 one-time payment
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Functional Finance

Company Location

United States

Company Website

functionalfi.com

Company Facts

Organization Name

BrickMed

Date Founded

1991

Company Location

United States

Company Website

brickmed.com/o-pr012002a/

Categories and Features

Categories and Features

Medical Practice Management

Claims Management
E-Prescribing
EMR / EHR
HIPAA Compliant
Insurance Eligibility Verification
Inventory Management
Multi-Office
Multi-Physician
Patient Billing
Patient Portal
Patient Records
Patient Registration
Patient Scheduling
Physician Scheduling

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