Applying Technology + Systems Integration to Extended Business Office Solutions
For healthcare providers who are experiencing staffing shortages and/or bottlenecks in various stages of their revenue cycle, it may be worth investigating Extended Business Office (EBO) options. Identifying the right vendor, however, for your specific needs is critical to making the transition (to outsourcing) as efficient and effective as possible.
ReMedics specializes in data capture, remittance processing, ERA data splitting/parsing, data validation and bank reconciliation. We also provide seamless integration to all major EMR and Practice Management System for efficient, timely payment posting. All of these services, and the workflows being applied, are designed to optimize financial performance, reduce posting backlog and increase cash.
Applying Technology to Your Revenue Cycle
ReMedics is able to leverage workflow automation technology and its experienced payment processing staff to keep up with the growing demands of your organization. With the use of Robotic Process Automation (RPA) and other data management methodologies, our outsourced services also include the processing of PLB adjustments, co-pays, deductibles, co-insurance, transfers, write-offs, take-backs, remark codes, denials and much more.
Our proprietary data validation software applies over 200 client-definable business rules to ensure that correct information is applied to the patient account, helping to scrub all of the captured data. This process is designed to find and cleanse potential errors prior to posting. If there are exceptions, we route those back to the client through automated worklists while sending the validated information directly to the host billing system for posting.
ReMedics also provides its clients with the ability to manage all of its correspondence documentation. This cloud-based, hosted repository provides quick access to electronic data, images and documents through a searchable database.
ReMedics Extended Business Office Benefits
Our services can provide fully outsourced payment processing solutions through reconciliation and funds distribution. ReMedics specializes in revenue cycle optimization to prevent reimbursement delays and claim denials. We can also deliver Comprehensive Collection Solutions that help to lower operational costs, increase staff productivity and maximize reimbursements. The following are just a few examples of the many benefits of working with ReMedics:
- Leverage existing IT investments, banking partners and clearinghouses with integrated processes
- Centralized location for all payments, denials and reimbursements
- Reduced staffing costs and timely secondary billing
- Capture of all denial codes, zero pays, comments and 100% of all ERA data
- Paper-based claim conversion with OCR/ICR, enhanced with Artificial Intelligence (AI) machine learning capabilities
- Correspondence capture and indexing (with OnBase platform access) facilitates more efficient billing & collections processes
- Rules-based validation to automatically identify missing data
- Normalized 835 & 837 data across payors and providers
- Ability to support system specific data requirements
- Client’s Business Office staff only have to work exception errors when necessary
- Support for Practice Group and MSO divisions utilizing multiple PM Systems, clearinghouses and billing applications
- Bank deposits segmented by division, balanced, and reconciled daily at divisional and enterprise level
- Microsoft Power BI and Microsoft SSRS integrations provide daily scheduled reports and detailed scorecards
- Denial follow up activities, customized by type of denial, by payer, aging, dollar value and other criteria.
Contact ReMedics
Contact ReMedics today to learn more. We can help you to develop a detailed project plan to achieve your extended business office goals — and provide permanent revenue cycle improvements that will accelerate your cash flow.