Medical Lockbox

A Brief History

A Complete Financial Platform that balances and reconciles ALL Payments with Claims
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.

Helping you build a self healing clinical and operational environment

We help Healthcare and Banking Specialists focusing its efforts on Payment (Revenue) Cycle Management after carefully examining the issues confronting providers today. How to improve positive cash flow and/or accelerate the payment process along with providing cash flow forecasting and analysis tools that allow providers to make better business decisions. There is a serious underpayment problem with providers today and reconciling payments, claims and contract arrangements to EOB statements represents a key strategy for the provider.