REVENUE SOLUTIONS: Remittance Management for Healthcare Providers

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Remittance Management

Improve the accuracy and consistency of cash and adjustment posting for proper A/R management and accelerate billing of secondary claims.

Manages the retrieval and processing of electronic remittances from third party payers
Enables central management of 835 files across all payers:

Translates 835 files into client-specific service codes for effective postings
Provides real-time access to an EOB database, for easy retrieval and research

Automates the accuracy of posting of cash, adjustments, patient liability amounts and remittance codes to the patient accounts
Maximizes staff resources, increases efficiency of existing business processes, improves accuracy and minimizes amount of rework required
Reduces cost and delays associated with physical storage of paper EOBs and vouchers
Reconciles all remittances with the originating claim
Automatically generates secondary claims:

Attaches the primary EOB to claims for secondary payers
Places secondary claims into a work queue for submission to payers
Performs secondary payer edits for HIPAA compliance

Delivers reports on payer payment trends, allowing financial managers to review payer performance and identify problem areas for resolution.

Improve your
Operating Margins

MedAssets improves
and sustains
operating margins
by 1.5% to 5%.

Fox Chase Cancer Center

Fox Chase Cancer Center experiences significant revenue cycle improvements of reduced A/R days, increased cash flow, increased capacity among FTE’s, and an increase in clean claims.