LOS ANGELES (PRWEB) June 16, 2020
In an effort to better serve existing healthcare clients and prospects, CheckAlt is pleased to announce its recent partnership with RMS—the leading provider of healthcare remittance management services—which will augment its existing nationwide lockbox service.
The joint CheckAlt/RMS solution provides healthcare customers with a best-in-class business tool that will allow them to work more effectively and efficiently within their current billing system and existing banking services. The solution helps increase the speed of the revenue cycle for improved cash flow, greater data integrity and the ability to analyze accounts to help promote growth.
“We have been aware of the healthcare lockbox opportunity for some time. It is one of a few select industry verticals where we continue to see a persistence of paper remittance in large part due to the claim reconciliation,” said CheckAlt’s Co-Chairman and CEO Shai Stern. “CheckAlt today processes north of 500,000 patient payments and 250,000 explanation of benefits checks per month. As part of our strategy for expanding payment processing services for healthcare, we wanted to make sure that we had the right kind of partner who would share the focus on customer experience that we embrace every day at CheckAlt. We found that in RMS.”
Moreover, the solution addresses the unique needs of healthcare providers with a completely configurable solution. Users can set up dashboards by employee role, automate common tasks to reduce manual errors and improve efficiency across the entire revenue cycle.
“We want to focus on the technology behind remittance management and reconciliation without worrying about the flow of paper documents and payments,” said Scott Thomas, CEO of RMS. “CheckAlt's 13-site nationwide hub and spoke network is first-rate and gives us the ease of mind that we need to do what we do best.”
In the past 10 years, CheckAlt has become the leading provider of check payment processing solutions for hundreds of financial institutions across the country. As both bank agnostic and demographic agnostic, CheckAlt is uniquely positioned for payments convergence. It has been our focus to process check payments while also eliminating paper from the system with robust electronic payment APIs. CheckAlt’s solutions include lockbox processing across a nationwide hub-and-spoke network of processing sites, consolidated item processing, integrated treasury solutions, and mobile capture services. CheckAlt is headquartered in Los Angeles, Calif.