BPO: An Alternative to Inefficient, Time Consuming Tasks
ReMedics delivers fully integrated revenue cycle solutions and services that help to lower operational costs, increase staff productivity and optimize ROI. Our outsourced remittance and payment processing services eliminates paper and modernizes the payment cycle by eliminating manual work tasks associated with payment posting, check matching, document indexing, capturing denials and bank reconciliation. For Physician Practice Groups, MSOs and other Healthcare Delivery Organizations, ReMedics Business Process Outsourcing (BPO) offers a cost-saving alternative to inefficient, time-consuming and error prone work tasks. This allows for Business Office personnel to focus more on revenue generating activities and customer service improvements.
Automating Data Capture and Workflow through Bank Reconciliation
ReMedics BPO services provides clients with a fully outsourced payment processing solution – designed specifically to simplify work associated with the capture, integration and automation of the patient’s post encounter process. By leveraging ReMedics BPO Services with innovative, workflow technology, ReMedics manages the data capture, parsing & batch balancing, validation, bank reconciliation & transfers through custom designed workflows for all types of remittances processing for the organization.
Multi-Submitter, Single Receiver Business Models… Integrated with Existing Practice Management (PM) Systems
ReMedics streamlines the payment process of all paper and electronic remittance advice (ERA), including non-835 files such as spreadsheet-based. ReMedics provides comprehensive paper to 835 conversion services, as well as conversion to HIPAA-standard remark codes for payers. ReMedics works with banking institutions through both retail and wholesale lockbox(es) for payment consolidation and document capture of paper remittances. Once processed, ReMedics provides normalized 835 files for direct integration to your Practice Management System(s) for posting in a multi-submitter, single receiver environment.
Reconciliation of all lockbox/remittances is completed through ReMedics’ Treasury Reconciliation solution whereby your bank deposits are segmented by division or business unit, (if applicable), balanced and reconciled daily for both divisional and corporate-wide groups. Reporting & Analytics becomes a bi-product of the workflow providing a centralized location to obtain details on all payments, denial/defects, co-pays, deductibles and contractual allowances.
With robust document and process management, ReMedics can help you to eliminate wasteful, redundant tasks so your time can be spent on things that really matter. Learn more about all of ReMedics Services for your medical group practice. Contact us about your outsourcing needs — or call us at 440-671-7700.