Automated Posting and Reconciliation, Matched to Bank Deposits… In today’s healthcare business office, complexities associated with numerous payment sources, along with robotic denials and adjustments by payors, can lead to delays in reimbursement and loss of revenue. Challenges with multiple payment streams and billing/coding errors ultimately reduce profits for provider organizations of all sizes. In
Reconciliation and Audit Controls for Autonomous Practice Groups… According to an article published by Chief Healthcare Executive® in 2024, corporate entities acquired 5,300 physician practices in 2022 and 2023. The percentage of corporate-owned practices rose 11% in those two years, while hospital-owned practices rose 7.3%. In many cases, these acquisitions occured within an operating framework
ReMedics and Your Bank Accounts The Process Behind the Processing Knowing how ReMedics interacts with our clients’ bank accounts is an important area of understanding the processing that takes place. For many of our clients, we work very closely with the bank associated with the “Corporate Lockbox” account. This is the account where ACH/EFT and
EOB Check Matching Technology and Payment Processing Efficiency Processing Physician Practice Group payments from multiple PM Systems and Clearinghouses to a single Tax ID/EIN requires a high degree of data accuracy and verification. The distribution of funds for separate divisions (or business units) also adds complexity to the work for MSOs and DSOs. To accomplish
Segmenting Practice Group Bank Deposits by Business Unit For many of our clients, having the ability to segment bank deposits by business unit saves them a considerable amount of time and effort in managing their funds distribution. With ReMedics Reconciliation Services, bank deposits are segmented, balanced and reconciled daily for divisional and corporate-wide groups. It’s
