Patent ID: 7657437
Filing Date: 2010-02-02
Classification: G06Q,G16H

Abstract:
1. A method of providing prescription benefits to subscribers under a subscriber co-pay plan via an electronic communications network to ensure that the subscriber receives a discounted prescription price, the method comprising the steps of: a) identifying a sponsor for a prescription benefits plan; b) designing the prescription benefits plan to include a formulary of preferred medications, and to define prescription medications that are covered by the prescription benefits plan; c) identifying at least one pharmacy that: d) identifying at least one eligible subscriber having a valid credit or debit account with a creditor or institution and wishing to participate in the prescription benefits plan; e) enrolling each eligible subscriber who wishes to participate in the prescription benefits plan and generating an electronic file for each of the eligible subscribers; f) generating an eligibility profile for each subscriber and storing said eligibility profile in an electronic memory; g) establishing a prescription benefits manager to administer the prescription benefits plan; h) establishing a prescription claims processor that: i) making a first payment via the electronic communications network by the creditor to the prescription benefits manager, the first payment being equal to the amount charged to the subscriber's account minus a first predetermined service fee to be retained by the creditor; j) making a second payment via the electronic communications network by the prescription benefits manager to the pharmacy, the second payment being equal to a predetermined portion of the discounted prescription price; and k) making a third payment via the electronic communication network by the prescription benefits manager to the claims processor, the third payment being equal to a second predetermined service fee, wherein the second payment and the third payment are funded by the first payment and whereby the sum of the pre-determined co-payment and the amount charged to the subscriber's account is the discounted prescription price paid by the subscriber.