Simplify Cash Posting with Automated Payment Posting
At the heart of OnBase Revenue Cycle Management (RCM) is an automated payment posting system that applies financial and non-financial transactions to all host billing systems, using the same workflow for electronic and paper remittance advices. In today’s world of consolidated business offices, multiple billing systems serve various hospitals and physicians practices within a single parent organization. Often, each facility works within its own silo of unique definitions, data standards, and processes. This lack of standardized central business office procedures can affect a health system’s revenue.
Naviant can provide you with OnBase RCM which helps numerous health systems standardize payment processing, reconciliation, and denials management functions across all hospitals and clinics, whether business offices are located in a single room or multiple buildings across the region. A single user interface captures all payment and denial information into a single database and then uses intelligent routing to apply the transaction into the appropriate patient accounting system. OnBase RCM also offers an automated mechanism to manage non-patient cash and payments that are processed into other systems outside your current patient accounting systems.
Our comprehensive RCM suite of solutions helps hospitals and physician practices achieve:
- Advanced data mining and dashboard reporting that allows management the ability to easily analyze remittance and payer issues, including root causes of denied payments
- Streamlined reconciliation processes and increased audit controls
- Lower costs associated with payment posting and denials management
- Smoother transition from one or more health information systems (HIS) to another
- Consolidation of multiple facility/physician group billing into a central business office
Additionally, OnBase RCM applies both financial and non-financial transactions into all hosts systems, utilizing the same workflow for paper and EDI payers. Retrieval of all EOB images at the patient level, directly from your host system(s), helps simplify work. The solution automatically allocates deposits into the appropriate G/L category, even if the deposit contains payments for many host systems and/or entities, and no monthly transaction fees are required for an unlimited number of EDI payers. Hospitals can automatically suspend and match unfunded ERAs to their corresponding deposit, once received. Finally, analysis of payer performance, departmental goals, and user productivity maintains efficiency. Ultimately, this all helps enable improved patient statement quality and customer service through timelier posting and increased accuracy. OnBase also offers a standalone technology that automatically converts paper lockboxes to 835 using a combination of OCR and data cleansing routines, providing another pathway to reduced costs.
Moreover, OnBase automated payment posting offers an efficient solution for a single point of access to insurance and guarantor payment data, eliminating the challenges of managing information in various formats. Payment processing will not only ingest your 835 Remittances, but it will also scan your paper remittances and integrate with your existing lockbox service to offer a totally paperless remittance processing solution.
Since its inception, OnBase RCM has grown into one of the most comprehensive, tightly-integrated, revenue cycle product suites on the market today. It works well within a hospital or large physician practice business office. Take advantage of Naviant’s proven experience increasing business office efficiency and payment information accuracy that significantly impacts our customers’ cash management, cost per transaction, days in AR, denial rate, and many other KPIs.