A Complete Financial Platform that balances and reconciles ALL Payments with Claims
Why currrent lockbox functionality has been enhanced for healthcare providers.
It is estimated that payers distribute six hundred million envelopes each year to pay provider claims, which translates to $3 - $4 billion in administrative healthcare costs. In an attempt to reduce this administrative burden, banks serving the healthcare community commonly offer digital lockbox services – a process that includes scanning paper checks and EOBs into electronic images. While a digital lockbox is an improvement, from a functionality perspective, it does not completely automate the claims payment process. Financial Payments assists banks in helping their provider customer base overcome this and other barriers.
Anybody can process electronic files but only a few truly understands the paper to electronic conversion process. Maintaining your lockbox revenue is important and the decision to move to electronic is your decision and not that of a third party. Its true healthcare is moving more and more towards electronic but there is time to make that transition and we will be there to support the electronic side when that mandate finally comes down and when you and your customer are ready to make the switch
RKB understands the importance of the timeliness and accuracy in the processing of payments and explanation of benefits (EOB) statements.
RKB paper EOB solution automates the remittance and posting process, reducing back office costs, lowering accounts receivable days and increasing accuracy and efficiency. Using a combination of OCR, matching to the original claim and single-click correction technology, we will convert your paper EOB document into an electronic posting file. This will post just as any other electronic remittance advice (ERA) coming from your clearinghouse or from Medicare would post. Once your paper EOBs are processing, we will also help you convert the payers coming through the paper process into ERAs to help you save even more.
Once processed, all of your EOBs will be hosted online for immediate viewing using our online document management system. This system allows you to view any patient on any EOB by simply searching for the patient's name or account number.