Here is a brief summary as well as a glossary that will help you use the funding report for hybrid financing programs.
Overview
The hybrid funding report is a list of payments collected by HFD for payment plans originated. For each payment, HFD provides :
- Unique Identifiers: Any ID’s that will help link payments to specific provider accounts or payment plans.
- Breakdown of payment collected: How much was collected, how much of it was applied to principal and interest.
- Breakdown of funding distribution: Information that helps providers understand which parties were paid with the funds that were collected by HFD.
Frequencies:
Providers can be set up with an email subscription for the following frequencies:
- Daily
- Weekly
- Monthly
Glossary
| Field | Description | Example |
| Activated On | The date the payment plan was activated. | 1/1/2024 |
| Activated YM | The month and the year the payment plan was activated. | 01/2024 |
| First Name | The first name of the patient. | John |
| Last Name | The last name of the patient. | Doe |
| Patron ID | The unique ID of the patient’s login account for their patient portal. Will be 0 or null if they have not created a portal account. | 123456 |
| HFD ID | The unique ID for the patients payment plan. | 1234567 |
| Payment ID | The unique ID for the payment made. | 98765 |
| Parent Provider ID | The unique ID for the parent provider account. | 5673836 |
| Provider ID | The unique ID for the location within the parent provider. | 578493 |
| Practice Name | The DBA name of the specific location that originated the patients payment plan. | John Doe’s Practice |
| Transaction Date | The date the payment was processed. | 01/01/2024 |
| Payment Type | The type of payment made within the payment plan schedule. | DownPayment Payment Origination Cancellation Refund |
| Installment Number | The month of the amortization schedule that the payment applies to. | 4 |
| Total Installments | The total term length of the payment schedule. | 24 |
| Gross Payment Collected | The total amount of the payment processed. | $400.00 |
| Applied to Principal | The amount of Gross Payment Collected that was applied to Principal. | $300.00 |
| Applied to Interest | The amount of Gross Payment Collected that was applied to Interest. | $100.00 |
| Servicing Fees | The fee HFD charges for processing payments, communicating with patients, and providing an online portal for self-service. Merchant processing is included in this fee and will be the only charge included in the down payment. | $5 |
| Net to Distribute | The Gross Payment Collected less Servicing Fees that can be distributed to investors and provider. | $395.00 |
| Payment Split | The pre-negotiated percentage split of payments to investor and provider. | 70% |
| Paid to Investor | The amount of Net to Distribute that was sent to the Investor. | $276.50 |
| Paid to Provider | The amount of Net to Distribute that was sent to Provider. | $118.50 |
| Paid to Provider Date | The date the amount of Paid to Provider was released by HFD. | 1/3/2024 |
| Is Cancelled | A true/false field that identifies cancelled accounts. | True False |