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Serving Physician Practice Groups, MSOs, Hospitals and Health Systems, ReMedics leverages proprietary workflow automation and data validation technology to streamline and improve multi-system remittance processing and reconciliation prior to posting. We supplement these revenue cycle outsourcing services with Enterprise Content Management (ECM) for the efficient capture and retrieval of all correspondence documentation — along with advanced OCR capabilities. All of these services are designed to lower operating costs, improve cash flow, decrease denials/defects and increase productivity.
ReMedics offers a wide variety of customized solutions to help with the integration, validation, automation, storage and reporting of financial data in ways that complement the client’s current Line of Business (LOB) systems and their applications. Automated dashboards provide management with daily updated claim status and financial data to quickly analyze revenue streams and problem areas for creating permanent revenue cycle improvements.
835 EDI Remittance Parsing/Splitting Services:
Co-mingled remittance transactions can be automatically split using client-defined criteria and associated with the appropriate Business Unit’s Practice Management System. Bank deposits are segmented by Business Unit, balanced and reconciled daily for divisional and corporate-wide groups. Our prescheduled daily reports will confirm that all funds have been distributed to their respective business units.
Paper to 835 Conversion:
For systems that don’t support electronic upload or lack EDI automation, ReMedics fully outsourced payment processing services provide comprehensive paper to 835 conversions, as well as conversion to HIPAA-standard remark codes for payers. We utilize OCR and Key from Image (KFI) workflow, along with Artificial Intelligence (AI) to efficiently process your paper EOBs, downloaded to our secure, web-based portal and document management system.
ReMedics Payment Processing Benefits:
• Business Process Outsourcing (BPO) solution for fully outsourced payment processing solution
• Seamlessly integrated with existing EMRs and Practice Management (PM) Systems
• Supports multi-submitter, single receiver practice aggregation business model
• Integrated processes and centralized location for all payments, denials and reimbursements
• EDI and paper-based claim capture with rules-based validation to identify missing data
• Receive ERA files for all payors/providers, including those that only provide paper
• Normalize 835 & 837 data across payors and providers
• Ability to support system specific data requirements
• Capture of all denial codes, zero pays, comments and other transactions
• Automated transaction validation, payment posting and data repair
• Staff is only handling exception errors when necessary
• Reduced staffing costs and timely secondary billing
• Bank deposits segmented by division, balanced, and reconciled daily at divisional and enterprise level