Patent ID: 8626536

Claim:
A method of paying medical claims comprising: using one or more processors: a) receiving payer payment method preferences which include a preferred order of payment methods to payees; b) formatting a payment to one of the payees including: a consolidated financial instrument which transfers accumulated monies without co-mingling funds in compliance with ERISA regulations; and at least one explanation of benefits associated with the consolidated financial instrument and the at least one associated explanation of benefits includes a patient identification, a payer identification, a service provider identification, a date of service, a service identification, a patient obligation and an amount paid; c) sending the formatted payment by the preferred method to the one of the payees with a coordinated transfer of the consolidated financial instrument and the at least one associated explanation of benefits; d) determining an acceptance or a rejection of the sent formatted payment to the one of the payees; e) automatically repeating steps b)-d) for subsequent method preferences in the payer preference order by a cost of a transaction using the payment method until the transfer is accepted by the one of the payees; and f) recording acceptance of the consolidated financial instrument and the at least one associated explanation of benefits to the one of the payees in a data store.