Allocating Invoices | Control360

Today’s blog discusses Allocating Invoices.

Concerning invoice shares, carriers are allotted according to their tender dates and invoice settlement dates (or agreed upon cut-off dates).

Per counsel’s instructions, we will draw up a billing matrix to implement the Joint Defense Funding Agreement. If a specific party has accepted extra insured obligations, the one share would be divided proportionally among the participating additional insured carriers.

Control360 will ask the primary carrier for a payment ledger to ensure proper credits for any payments already made. Before the final allocations to all carriers, the system will confirm the total amount paid by the primary carrier. Control360 will also ask each vendor for a complete invoice history and payment ledger to ensure that all defensive billings are distributed among the parties involved.

The Control360 systems allow case managers to INSTANTLY factor in:

·       Tender Dates

·       Cessation Dates

·       Exhaustion Dates

·       Self-Insured Retentions

·       Percentage Allocation

Cost Sharing Methods

Our system can withhold shares of specific invoices of experts from a carrier’s claim. For example, is a carrier has retained their counsel but agrees to share all other invoices, we can accommodate those cost-sharing agreements.

Control360 is capable of assigning shared dollar amounts to all participating carriers. It includes setting a “fixed” percentage of costs to carriers and delaying the allocation of shares to a carrier until a deductible or SIR is satisfied.

Interim Allocation Requests

Interim Allocation Requests are also included in the Control360 system features. The requests are created and sent based on case activity, usually monthly.

This concludes our review of Allocating Invoices. Stay tuned for next week, where we’ll cover how Control360 Provides a Complete Financial Picture!

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