EOB Conversions
A Complete Financial Platform that balances and reconciles ALL Payments with ClaimsWhy 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. RKB understands the importance of the timeliness and accuracy in the processing of payments and explanation of benefits (EOB) statements.
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