Funding Request Summary Report

Welcome back to Control360!

Today’s blog discusses the Funding Request Summary Report. We send these funding requests out every 30-45 days. (30 days when there is high activity and 45 when there is less) Below details what these requests look like and the information included in them.

Located in the “Reports” tab, under “Funding Request Summary”.

The First screen that pops up gives an overview of the participants that are in the Matrix, including their Shares, Payments and current Balance due.

This is an example of our Funding Request Email to a Participant with an existing Balance due. It lists the MDI Invoice #, the Adjuster and their address, The email Subject, The Name of the Case, The Insured and Insurer Names, along with the Insurer’s Claim #. It goes into detail about how the Shares are calculated, their Share amount, any Payments received and their Balance due. Because MDI is not handling the funds, the checks will be payable/mailed to the details provided by the Attorney’s office. Along with a reminder of the information that must be included when remitting payments.

Included with the email are 3 attachments. The first being the Funding Request Summary Report. This provides transparency among the Additional Insureds. They can see a summary of the total Shares, Payments and overall Balance due for all parties.

The second attachment is the New Invoices Shares Report. This is an itemized list of all Costs and Fees that have been received for that billing period. Detailing the Vendor, Invoice dates, Date they were entered, Invoice #, Invoiced amount, Adjusted (if/where applicable), their personal Share amount and Percentage.

The third attachment is a copy of all original invoices consolidated in a single PDF for their records.

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This concludes our review of the Funding Request Summary Report. Stay tuned for next week, where we’ll review the Claims tab!