With this offering, BancTec applies our large-scale BPO experience and payment processing expertise to address the most frustrating remittance challenges that healthcare providers face.
Orlando, Fla. (Vocus/PRWEB) February 21, 2011
BancTec, a global leader in transaction automation and outsourcing solutions, announces that it plans to unveil Healthcare Remittance Automation, an outsourced service for providers, aggregators, and financial institutions, at the HIMSS11 Annual Conference & Exhibition. BancTec will demo the new offering February 21-23 at Orlando’s Orange County Convention Center, Exhibit Hall A, Booth #2070.
“BancTec’s Healthcare Remittance Automation service was designed based on discussions with hospitals, physician networks and banks nationwide,” said Chuck Corbin, vice president, healthcare industry solutions for BancTec. “With this offering, BancTec applies our large-scale BPO experience and payment processing expertise to address the most frustrating remittance challenges that healthcare providers face.”
Healthcare Remittance Automation applies specialized technology and business process expertise to automate and optimize healthcare payment workflow. The service leverages technologies including OCR, ICR, sophisticated rules engines, and real-time reformatting software to convert paper and electronic EOB documents into standard electronic posting files.
Providers can access payment and claim-related data through a web-based portal and have balanced remittance and payment data seamlessly uploaded into their patient accounting systems. Tools are provided to help providers with follow-up and analysis, such as a denial management tool that helps providers quickly identify and respond to denied claims.
The benefits of BancTec’s Healthcare Remittance Automation service to providers include:
- Increased revenue. By taking control of the remittance process, providers can decrease receivables days outstanding, accelerate cash flow, improve collections, and reduce payment errors.
- Reduced costs. Healthcare Remittance Automation enables providers to reduce the cost of claims posting, eliminate data entry and misplaced records, and ensure faster processing.
- Increased efficiency. Providers can increase productivity by up to 40 percent with the same staff, while improving information flow and denial management.
- Reduced risks. Healthcare Remittance Automation increases internal control of the remittance process, improves tracking with better documentation, and facilitates regulatory compliance.
Healthcare Remittance Automation is just one of the outsourced services that BancTec will showcase at HIMSS11. The company also will feature its Healthcare Claims Processing, Medical Records Processing, Inbound Mail Services, and Accounts Payable Automation offerings.
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit http://www.banctec.com or call 1-800-BANCTEC.
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