RemitPlus® Healthcare Revenue Cycle Management
Simplified Remittance for the Healthcare Industry
In a time when financial service margins are low and profitable customers are getting harder to come by, the U.S. healthcare system is a trillion-dollar market generating more than 8 billion claims per year (and growing). This growth makes attracting hospitals, clinics, and private practitioners as banking customers a natural fit to a financial organization, not only for deposits and loans, but for treasury management services as well (lockbox processing,
document imaging, or remote deposit capture).
Today, hospitals, clinics, and healthcare practices waste significant time processing payments from patients and insurance companies. These inefficiencies translate not only to direct costs, but also to lost revenue due to the time constraints required for medical claim reconciliation.
RemitPlus for Healthcare Revenue Cycle Management (HRCM) is a powerful payment and claim processing system that will not only help your healthcare clients automate the payment process, but streamline payment collections – providing more time to focus on patient care.
What It Does
- Is an affordable, turnkey check scanning and imaging solution.
- Helps solve some of the revenue cycle challenges in the healthcare industry.
- Enables healthcare and other providers to automate the check and payment handling process both quickly and effortlessly.
- Provides intuitive lockbox and remote capture of check images, payment vouchers, EOBs, envelopes, and correspondence, as well as interfaces with electronic EDI 835/7 files.
- Offers image storage for a full year, plus extended storage options as needed. Allows for remote scanning capability at a healthcare provider’s location to easily accommodate walk-in payments.
- Helps control risk and protect privacy.
- Serves as an ideal solution for a wide variety of providers.
What It Does For Me
- Gives your medical provider customers an easier, automatic way to manage their payments and reduce the overall time it takes for processing.
- Enables you to tap into the growth opportunities in the healthcare market.
- Increases revenue and attracts profitable, low cost deposits.
- Generates additional fee income opportunities such as lending, investment, insurance, merchant processing and non-traditional banking services.
- Improves profitability.
- Helps sustain existing customer relationships and cultivate new ones.
- Makes it easier than ever to add value to your existing healthcare clients and help you capture new relationships with healthcare providers without a significant investment in staffing.
- Creates the potential to cross-sell other meaningful products like cash management, investment, and lending services.