Binder Payment Business Rules

Oracle Revenue Management and Billing enables you to define business rules for binder payment. A new category named Binder Payment Business Rule is introduced in this release. The binder payment business rules are used for used for monitoring and processing the binder payments of an individual membership.

The system derives the binder payment business rules for an individual membership while creating or editing an individual membership, or while adding, editing, or inactivating a member person in an individual membership. While deriving a business rule of the Binder Payment Business Rule category, the ORMB application considers the respective business rules which are effective on the membership start date. Once the effective business rules are identified, the ORMB application executes these business rules in the order of their priority.

Once the criteria of the business rule is met, the business rule is stamped against the individual membership. If two or more business rules have the same priority, the ORMB application sorts the business rules for execution, based on the business rule criteria sequence. The ORMB application derives the binder payment details for an individual membership through a binder payment business rule only when the binder payment details are not available for an individual membership in the respective table.

While defining the binder payment business rule criteria, you can use the parameters which are defined on the following entities:

  • Health Plan

  • Health Product

  • Individual Membership

  • Member Person of an Individual Membership

You can define, edit, and delete a binder payment business rule through the Business Rule screen. While defining a binder payment business rule, you need to set its category to Binder Payment Business Rule. The binder payment business rule enables you to define the following parameters:

  • Binder Payment Applicability - Used to indicate that you want the system to monitor whether the binder payment is received or not before activating the individual membership.

  • Threshold Percentage - Used to specify the threshold percentage using which the threshold amount should be calculated.

  • Grace Days - Used to calculate the grace date for the individual membership.

  • Hold Billing - Used to indicate whether you want to hold the bill generation process for the individual membership until the binder payment is received.

You can view the binder payment business rules through the Business Rule screen.

Parent topic: Business Rules