Claims Payment Solution
Our Claims Payment Solution is a comprehensive, paperless accounting system that lets you manage all your third-party claims payments and remittances. Benefits include:
- Improved data quality. No matter how payers generate Explanations of Benefits (EOB), our system aggregates and standardizes all your remittances. You can import the HIPAA-formatted, ANSI 835-compliant data file, which includes line-item data, directly into your accounting system.
- Accelerated revenue recognition. The system works in conjunction with your medical lockbox to reduce mail float for checks, lengthen your deposit window, get funds into your account faster, and create an electronic file of necessary claim payment information.
- Consolidated electronic remittance files. Handling multiple electronic files from dozens of payers can put unnecessary strain on staff, systems, and working capital. Electronic Remittance Advice (ERA) functionality simplifies your processes by seamlessly aggregating all your electronic remittances—including service line data—into a single file.
- Fewer exceptions. All payments with reason adjustment codes are verified in the system. You can even elect to translate payer codes on paper EOBs so that they conform to your institution’s coding structure.
- Improved reconciliation. Sometimes there will be payments and remittances that the system’s reconciliation standards are unable to match. Your staff can review and assign these items in one batch, without disrupting critical patient accounting cycles.
- Enhanced customer service. To help you do research and answer customer questions quickly, you can review indexed digital images of checks and original EOBs.