Teaming with MediStreams, United Community Bank now offers a new Healthcare Remittance Service that provides healthcare businesses a way to streamline and automate the processing of healthcare Explanation of Benefit (EOB) documents and Electronic Remittance Advices (ERAs).
Remittances that arrive at the provider’s site in paper form are converted to an EDI format that can be automatically uploaded into the healthcare provider’s system.
“The healthcare industry is changing, and with these changes come more administrative requirements, paperwork, and time spent in the office instead of with patients,” says Bill Gilbert, Senior Vice President – Retail Banking. “Through our partnership with MediStreams, United Community Bank is able to provide a service that is invaluable to medical office administration.”
Because the Healthcare Remittance Service digitizes and indexes all of the data, the provider is able to quickly retrieve remittance documents, images and reports, regardless of whether the data is sourced from a paper EOB or ERA.
This data can be retrieved by searching on any of the indices on the claim, remittance or payment.
Posting files are customized to meet the specific posting and business rules of the provider’s accounts receivable system. This significantly reduces the need to manually process remittances, reduces denial rates, improves appeal recovery rates and reduces inefficiencies associated with a paper workflow.
“The strategic partnership with United Community Bank allows us to offer a complete medical banking solution to our clients,” says John Koch, Chief Operations Officer of MediStreams. “It allows us to reconcile healthcare remittance documents directly to the financial transactions at the bank. We look forward to aligning our capabilities with United Community Bank and creating value for healthcare providers."
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