Considerations

The banking industry has become a major force in the healthcare market.

RKB recognizes that this segment looks to become an even larger contingent in the coming years.
Like any newcomers to the healthcare industry, the banking institutions participating in this market may have approached the claim and payment process with a preconceived notion of simplicity. Many have found early on that what appears on the surface to be a simple billing and reconciliation process is in fact a very complex financial transaction with multiple touch-points.

Gaining an understanding of the current revenue cycle for claims submission and payment processing while preparing for the next generation of healthcare industry evolution, namely consumer directed healthcare, will be a daunting challenge to the banking industry. RKB can help.

RKB brings a unique approach to this market segment.

RKB brings a unique approach to this market segment by providing outsourcing technology services that address two key areas of concern for the banking organization and their ability to reach out and touch the healthcare market in a meaningful way:

Managing the lockbox transactions electronically as a conduit between payer, provider, intermediary and banking institution by linking all parties through one single data hub. All transactions meet HIPAA compliance including EOB processing, payment reconciliation and delivery of payment data to providers in a unified presentment format for electronic posting.

RKB can provide conversion of EOB documents and images to HIPAA compliant 835 ERA transactions.

Provide technology for converting data to one single presentment format allowing providers to post payments electronically regardless of Practice Management System platform
Provide interfaces to Revenue Cycle Management, Billing Services or directly with Provider organizations to complete the transaction loop and tie critical data elements together for reconciliation and balancing of claim payment.
Provide guaranteed turn-around-times and data quality SLA’s.
Provide one single data hub (portal) for accessing and viewing status of transactions in process.
Provide an a la carte menu of services – Only use what is necessary
Provide buy versus build or acquire option saving time and money

If your facility offers Patient-Friendly-Payment options, please post your free listing in the PFP national database for patients to locate you:
Patient-Friendly-Payments.com