Treasury Functions

End-to-End Payment Reconciliation and Audit Controls

ReMedics turns payment reconciliation into an automated workflow, streamlining the processing of all claims that don’t require human intervention. We provide end-to-end reconciliation from bank deposits to the Practice Management (PM) payment application. We start with ensuring remittances are not applied to the PM system until corresponding funds have been deposited to your bank account — and end with detailed reporting that confirms all funds have been recorded to their respective business units.

Single System Tracking and Review Across Multiple Business Units

Our system automates deposit imports, tracking and reconciling cash with single system tracking across all business units. A highly configurable user interface provides staff with the ability to select their reconciliation work criteria to resolve any system errors — or to apply specific remit codes for quick review and correction. With ReMedics Treasury Functions, complete audit controls are maintained throughout the entire reconciliation process.

Deposit Segmentation and Remittance Retrieval 

Reconciliation of all lockbox/remittances are completed through ReMedics’ Treasury Reconciliation solution whereby your bank deposits are segmented by division or business unit, (if applicable), balanced and reconciled daily for divisional and corporate-wide groups. Reporting 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, thereby resulting in a simplified, streamlined workflow that integrates with your existing clearinghouse(s), patient accounting system, EMR and banking partners. In return, your practice group reduces organizational IT spend and maintains system-wide practice autonomy.

Lastly, storage and retrieval of remittances become available for export to your content management system or accessible through our hosted solution, ReMedics Client Portal. Documents are indexed to batch and patient folder levels with timely retrieval for tasks such as: appeals; secondary billing; audit requests; denial management; and collection-based activities. Read more about our Exception Worklists.

Normalized 835 Files

ReMedics works with your 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) in a multi-submitter, single receiver environment. Contact ReMedics to see how we help to automate your payment posting, banking reconciliation and other treasury functions.