Centralized Payments, Denials and Reimbursements
The ReMedics’ Business Process Outsourcing (BPO) solution offers a fully outsourced payment processing solution designed specifically for the physician aggregation business model. By leveraging a single cash management platform, ReMedics manages the data capture, parsing & batch balancing, validation, bank reconciliation & funds transfers through custom designed workflows for all types of remittance processing for the organization.
ReMedics streamlines the payment process for all paper and electronic (even non-835 ERA files such as spreadsheet-based) remittance advices. This includes comprehensive paper to 835 conversion services, as well as conversion of remark codes to HIPAA-standard codes for payers. ReMedics works with banking institutions through both retail and wholesale lockbox(es) for payment consolidation and document capture of paper remittances and correspondence. Once processed, ReMedics provides normalized 835 files split by division for direct integration to your Practice Management System(s) in a multi-submitter, single receiver environment. Reconciliation of all lockbox/remittances is completed through our Treasury Reconciliation solution whereby corporate bank deposits are segmented by division, balanced, and reconciled daily at both the divisional and enterprise level.
Our clients also receive detailed reporting, business unit analysis and document imaging, which become a by-product of the workflow in a centralized location. ReMedics provides details on all payments, denial/defects and reimbursements.
To learn more about how ReMedics can create a single cash management platform for you, contact us today — or call us at 440-671-7700.