Outsourced Remittance Processing and Bank Reconciliation Services
Are you looking to outsource some or all of your redundant, time-consuming revenue cycle tasks? From Lockbox Payment Processing to Bank Reconciliation and Funds Distribution, ReMedics can assist you with a variety of customized outsourcing services.
In a co-shared business model designed for revenue optimization, ReMedics helps to manage all of the payment capture and bank reconciliation processes for your practice, so that posting payments becomes an automated, timely process. ReMedics provides comprehensive data management and reporting services to all healthcare providers, including:
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Business Process Outsourcing
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Data Capture / Intake
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Payment Processing / Posting
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Treasury Functions
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Exception Worklists
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Denial Prevention and Management
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Document Management
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Reporting & Analytics
Data Capture / Intake
In systems that support electronic uploading of remittance data, we transform existing paper EOBs into a normalized 835 file suitable for automated posting to the patient account. For systems that still don’t support electronic upload or lack EDI automation, we can use our Robotic Process Automation (RPA) technologies to eliminate manual data-entry tasks, increasing accuracy and overall performance. Learn more about our Data Capture & Remittance Intake Services.
Payment Processing & Posting
ReMedics provides for the posting of payments, adjustments and denial data, integrated to your existing Practice Management (PM) System. Our automated posting services, for electronic and paper EOBs, utilize workflow automation technologies that eliminate manual data-entry tasks, increasing accuracy and overall performance. A configurable rules-based engine scrubs payment (ANSI 835) data before it is submitted to the Line of Business (LOB) system and allows exceptions to be worked in an online tool for correction and re-submission. Learn more about out Payment Processing and Posting.
Treasury Functions
ReMedics turns payment reconciliation into an exception-centric workflow. We automate items that do not require human intervention with end-to-end reconciliation — from bank deposits to the payment application and into the host billing system. ReMedics provides complete audit controls throughout the entire reconciliation process. See our complete Treasury Function Services here.
Exception Worklists
ReMedics takes advantage of its workflow automation technology and leverages exception-based worklists to minimize human error and reduce operating costs. Our exception worklists and work queues can be automated to target specific areas of need. Example worklists include Correspondence Management; Third Party Follow-Up; Self-Pay Follow-Up & Customer Service; A/R Collections Management; and Denial Management. Read more about ReMedics Exception Worklists.
Denial/Defect Management
Our data validation processes help to scrub and cleanse all payments before posting. We automatically check for errors, validating all claim information needed for processing while improving data integrity. Working in tandem with our Payment Processing services, we capture denials in the system and then route them for automated activities and other user-selected adjudication. We also ensure that the process is managed and audited to stop recurring denials — with reporting & analytics tools to help identify the root cause of problem areas. Visit our Denials Management page to learn more.
Document Management
From paper EOB’s and correspondence to requests for information, denied claims, insurance cards, patient IDs and more, ReMedics provides its clients with the ability to manage all of its documentation with a centralized Enterprise Content Management (ECM) system. Utilizing Hyland’s OnBase platform, a KLAS category leader, we eliminate disparate content silos, increasing productivity across your entire enterprise. Click here for more on our Document Management solutions.
Reporting & Analytics
Unlock the potential of all your data generated as a result of every revenue cycle process. ReMedics help our clients to visualize and analyze real-time data with comprehensive reporting tools. By providing detailed, drill-down data analytics, pivot charts and scorecards, department managers and group practice executives can quickly identify hidden trends, isolate problem areas and ensure that they have an up-to-the-minute view of their patient accounting and revenue cycle operations. See our Reporting & Analytics, Financial Scorecard, Denials Scorecard and more.