The Medical Lockbox coupled with the remittance automation services permits providers to post payments faster, and with greater accuracy, at a reduced cost.
ROSWELL, Ga. (PRWEB) November 14, 2017
MediStreams, an RCM company, officially announces release of their Medical Lockbox Version 2.1, owned and developed by MediStreams. Physician and hospital billing entities require innovative solutions to keep the financial processes running smoothly to optimize cash flow and effectively manage the revenue cycle. MediStreams Medical Lockbox is healthcare specific and geared to address the nuances of healthcare documents and the remittance payment process.
The lockbox operation begins with industry standard lockbox functions of routing of all provider remittances, both commercial and patient payments, as well as correspondence to a Post Office Box address. The provider’s check payments become deposited to any bank they choose. From this point on is where the MediStreams Medical Lockbox differs from the standard.
One lockbox can accommodate all type remittances. No need to have multiple lockboxes for commercial and patient payments. The Medical Lockbox operations staff comprehends that not all documents without a check are correspondence and require special processing. Their advanced healthcare knowledge and training gives special handling of zero pays and denial EOBs, miscellaneous payments or EOBs that have an associated EFT.
The Medical Lockbox integrates with feeds to the other MediStreams remittance automation services. The EOB Conversion and Patient Payment Processing services deliver customized 835 posting files for posting to the provider’s billing software. Included as well are the digital images of true correspondence, for indexing and routing accordingly for completion.
“The level of healthcare specific features of the Medical Lockbox Release gives our healthcare clients the detail and accuracy they need. By identifying items correctly, offering splits and customized outputs, our clients are able to save both time and money and have easy access to all their data through the MediStreams online, ten-year archive”, said Jeanne Marvine, National Director of Sales for MediStreams.
The Medical Lockbox coupled with the remittance automation services permits providers to post payments faster, and with greater accuracy, at a reduced cost. The ten-year online archive provides for enhanced research tools and analytics for all data and images captured.
MediStreams, Incorporated in 2009, provides outsourced Healthcare Revenue Cycle Management services for healthcare billing entities. MediStreams HIPAA compliant platform automates the flow of healthcare payments with lockbox services, ERA to EFT deposit reconciliation, paper to 835 conversions, patient payment and correspondence processing. MediStreams unique service delivery model accelerates the posting of remittances, eliminates manual processes and significantly reduces overhead costs. For additional information, visit http://www.MediStreams.com or call 866-836-2835.