End-to-End Remittance Capture, Bank Reconciliation & Correspondence Management
Designed for Growing Physician Practice Groups and MSOs
Why Choose ReMedics?
ReMedics Lockbox Processing ensures that the capture of all insurance and patient payments is both accurate and reconciled prior to posting. In addition to electronic remittances, we also transform paper-based EOB payments into normalized ANSI 835 ERA files, allowing for automated posting with one or multiple billing applications. ReMedics integrates and works with all major Practice Management (PM) and Electronic Medical Record (EMR) Systems, Clearinghouses and Banks — with services that are easily scaled to the growth of a Physician Practice Group or Management Service Organizations (MSOs).
ReMedics can also provide you with a variety of customized Business Process Outsourcing services to address more targeted areas of need.
Complex Processing & Reconciliation for Aggregated Groups
Our lockbox services go beyond processing payments from a single PM/EMR System or Clearinghouse. With our automated workflows, we can facilitate the handling of complex multi-entity reporting and integration across multiple PM systems. This includes aggregated, autonomous groups billing with the same TAX Identification Number (TIN). ReMedics can then automate the matching of bank deposits to all claims and adjustments so that clients can efficiently post payments and track open AR balances.
These capabilities ensure that correct deposit amounts are being made to the individual practice or business unit accounts.
Correspondence Management and Workflow Efficiency
For healthcare organizations, unstructured content exists in a wide variety of file types and sources of information. With the ability to quickly retrieve lockbox correspondence, indexed to the patient, practice group and document type, our services can play a critical role in how fast your claims get paid, delayed or denied due to missing or inaccurate data. With our data validation processes in place, correcting potential errors becomes much timelier and more efficient. Our reporting & analytical tools also help to identify the root cause of problem areas.
Medical Lockbox Processing Benefits
ReMedics services can bring about a variety of revenue generating enhancements and efficiency improvements. These benefits often include:
- Lower A/R Days
- Lower Remittance Processing Costs
- Increased Cash Flow
- Automated Correspondence Capture & Indexing
- OCR/ICR Data Capture Technology (EOB to 835 conversions)
- Multi-System Integration Capabilities
- Timely, Accurate Bank Reconciliation
- Denial Reduction
- Robust Reporting and Analytical Tools
- HIPAA Compliance
Contact ReMedics About Your Practice and Lockbox Requirements
Let’s talk about how we can help to improve your revenue cycle, increase cash flow and make processing lockbox payments (and all correspondence) more efficient for your entire organization. Contact us today to get started.
Note: ReMedics is not the owner of a corporate bank account. Monthly Bank fees and Clearinghouse costs are independent of ReMedics processing fees.