UnitedHealth Group. has filed a patent for a system and method for reconciling contribution funded accounts. The system delays reconciliation until the full contribution amount is received, minimizing borrowed amounts. Information is then sent to bank and card servers for account reconciliation. GlobalData’s report on UnitedHealth Group gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on UnitedHealth Group, Content recommendation models was a key innovation area identified from patents. UnitedHealth Group's grant share as of January 2024 was 40%. Grant share is based on the ratio of number of grants to total number of patents.

Reconciliation system for accelerated contribution funded accounts

Source: United States Patent and Trademark Office (USPTO). Credit: UnitedHealth Group Inc

A computer-implemented method for managing funds in a multi-purse system is disclosed in a filed patent application (Publication Number: US20240037647A1). The method involves receiving a claims request with specific parameters from a card accounts system, selecting an MP table based on a user's profile, identifying a set of sub-accounts for the request, and transferring funds between different accounts based on predefined rules. The system also initiates bank transactions and updates the card accounts system to reconcile different account balances.

Furthermore, the patent application describes a computing system and computer-readable storage media implementing the method outlined above. The system is designed to efficiently handle fund transfers and account reconciliations based on user-specific parameters and priorities. By utilizing MP indicators and sub-account statuses, the system can select the appropriate accounts for fund transfers and ensure accurate reconciliation between different types of accounts. Overall, the disclosed method and system aim to streamline fund management processes within a multi-purse system, providing users with a seamless and efficient financial experience.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.