What is scheduled payment in SAP FS-CM - Claims Management?

SAP Term: scheduled payment

• Component: FS-CM

• Component Name: Claims Management

• Description: A single payment in the payment schedule that is created in FS-CD from a payment plan item during the payment run.

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• Key Concepts: 
  Scheduled payment is a feature of SAP FS-CM Claims Management that allows users to set up recurring payments for claims. This feature allows users to automate the payment process, eliminating the need to manually enter payment information each time a claim is made. Scheduled payments can be set up for any type of claim, including medical, dental, and vision claims. 
  
  How to use it: 
  To set up a scheduled payment in SAP FS-CM Claims Management, users must first select the type of claim they are making. Once the claim type is selected, users can then enter the payment information for the claim. This includes the amount of the payment, the frequency of the payment (monthly, quarterly, etc.), and any other relevant information. Once all of the information is entered, users can then save the scheduled payment and it will be automatically processed each time a claim is made. 
  
  Tips & Tricks: 
  When setting up a scheduled payment in SAP FS-CM Claims Management, it is important to make sure that all of the information entered is accurate. This includes double-checking that all of the payment details are correct and that the frequency of the payment matches what was intended. Additionally, it is important to make sure that all of the necessary documents are attached to the claim before submitting it for processing. 
  
  Related Information: 
  Scheduled payments are just one of many features available in SAP FS-CM Claims Management. Other features include automated claims processing, document management, and reporting capabilities. Additionally, SAP FS-CM Claims Management integrates with other SAP products such as SAP ERP and SAP HANA to provide a comprehensive solution for managing claims.