What is convalescence benefit in SAP FS-CM - Claims Management?

SAP Term: convalescence benefit

• Component: FS-CM

• Component Name: Claims Management

• Description: Benefit following an in-patient hospital stay for which a per diem hospital benefit was paid. Convalescence benefit is paid for the same number of days as the duration of the in-patient hospital stay.

Smart SAP Assistant

• Key Concepts: 
  Convalescence benefit is a type of insurance benefit offered by SAP FS-CM Claims Management. It is designed to provide financial assistance to employees who are unable to work due to illness or injury. The benefit is typically paid out in the form of a lump sum or regular payments over a period of time.
  
  How to use it: 
  In order to use the convalescence benefit, employers must first set up the benefit in the SAP FS-CM Claims Management system. This includes setting up the eligibility criteria, payment amounts, and other details. Once the benefit is set up, employees can submit claims for convalescence benefits when they are unable to work due to illness or injury.
  
  Tips & Tricks: 
  It is important to ensure that all employees are aware of the convalescence benefit and how to submit a claim for it. Employers should also make sure that they have adequate funds available in their budget to cover any claims that may be submitted.
  
  Related Information: 
  SAP FS-CM Claims Management also offers other types of insurance benefits such as disability benefits, life insurance, and health insurance. Employers should review all of these benefits and determine which ones are best suited for their organization.