Seamless Re-association of Patient Payments Key to Health Care Revenue Cycle Management
ImageScan Inc., a U.S.-based, leading transaction software solutions provider, announced today that RevenueExpress can now re-associate all patient-initiated payments in its fully compliant “835” output, creating a new industry standard for accuracy and efficiency in revenue cycle management. With patient payment responsibility on the rise, and a profusion of methods available to patients who wish to pay medical bills, new challenges in managing incoming payment data have overwhelmed medical providers. RevenueExpress, ImageScan’s health care revenue cycle management solution, answers the need for more timely and seamless re-association, as well as the posting of patient payment transactions for precise rebilling and collection within patient accounting systems.
“With the proliferation of high-deductible health plans, patient payments are steadily increasing as a percentage of health care transactions, and those payments are coming in many forms such as checks, ACH transfers, and in credit card charges from kiosks, provider portals and through the mail,” says David Wright, ImageScan's Sales Manager for Health Care Systems. RevenueExpress allows revenue cycle service providers to accurately capture and associate these payments with the proper patient encounter and claim information, convert the payment information instantly, and normalize it for efficient posting of all patient transactions in their standard posting file.”
RevenueExpress captures patient payments early in the revenue cycle process and automatically re-associates incoming payment information with the proper open claim. The robust solution then converts these transactions to fully compliant 835 files, improving the speed and accuracy of posting and accelerates availability of cash, while maintaining steadfast accounting and tracking of all receipts. Lastly, the solution automatically converts these transactions into proper formats for archive storage and web delivery, enabling simplified research and comprehensive reporting of payment history and facilitating superior customer service, research and collection. Using industry leading technology and processes, all of these capabilities are now provided cost effectively on-shore along with superior data accuracy and speed.