Revenue Cycle Outsourcing (RCO) Services for Complex Business Environments
Our client’s Clearinghouses and Banks play an important role in how medical claims are submitted and how insurance payors provide reimbursement back to the organization. Clearinghouse services go beyond just claim submission and remediation. Their services can also include eligibility and benefits checking, referral authorization, and claims status information. Banks provide several key services in the revenue cycle, starting with being the recipient of funds as well as EOBs and Correspondence via lockbox services.
ReMedics Revenue Cycle Outsourcing (RCO) services are vendor agnostic, allowing clients to leverage their existing clearinghouse accounts and banking relationships — while centralizing all of their EOB, claims and correspondence requirements. This “single receiver” workflow facilitates efficient, automated processes with the posting of all payments; including insurance payments, patient payments, legal reimbursements, clinical trial payments, and others. We also provide for the parsing of EDI transactions for more efficient funds distribution from a corporate receiver to multiple divisions, practice groups or locations.
Benefits of ReMedics RCO Services
- Use of a single Corporate Bank Account to track and report on all incoming deposits
- Supports a Multiple Submitter/Single Receiver approach for complex provider environments
- Practices can maintain existing Clearinghouse Accounts for submission
- Splitting/Parsing of Co-Mingled Remittance in support of Practice Group Autonomy
- Centralized EOB, Claim and Correspondence capture
- Automated Posting of all Payments – with Funds Distribution for each Division or Business Unit
- Increased Productivity and Cost Savings
- Automated PLB adjustments
- Denial and Claim Defect avoidance with customized Data Validation Rules
- Reduced days in Accounts Receivable (A/R)
- Check Matching and BAI integration for accurate Bank Reconciliation
- Automated Workflows for Exception Processing
Contact ReMedics to Maintain Your Current Clearinghouse and Banking Relationships
Talk to ReMedics about your specific Clearinghouse and/or Banking requirements to manage all of our remittance, data validation and reconciliation needs. We can also help to evaluate your current processes and make recommendations with any planned changes to your claims management or payment processing. Contact ReMedics online or call 440-671-7700.