Medical Lockbox Services
Medical lockbox services are essential for healthcare systems, hospitals and physician practices overloaded with slow, time-consuming paper-based payments. Lockbox services streamline your revenue cycle, reducing manual back-office insurance and patient payment posting processes and enhancing the claim-to-payment life cycle. Your hospital or practice will process payments faster, which also means you get paid sooner.
You also need a lockbox solution that meets your organization’s growing needs to reduce costs and improve quality of care. Medical lockbox service from CommerceHealthcare® is designed to deliver a simple, cost-effective, compliant solution that speeds cash flow.
A faster, cost-effective process
CommerceHealthcare® medical lockbox service is designed specifically for healthcare providers. It offers scalability and improves efficiency by enhancing your revenue cycle process and optimizing your staff’s time.
Key Benefits of a Medical Lockbox
- Utilizes virtual posting workflows to improve remittance posting and correspondence follow up
- Online access to seven years of images, data and audit trails to help facilitate compliance
- Reduces risk of duplicate posting
- Decreases internal processing costs while increasing cash flow
- Mitigates potential risk of theft, fraud, or error
Discover how you can reduce costs and speed up the payments process. Speak with a healthcare revenue cycle specialist.
Medical Lockbox Services improve payment posting
How it works
- Incoming insurance and patient payments collected and deposited daily, eliminating a manual payment posting process for your staff.
- Your lockbox deposits are timed to meet critical check clearing deadlines.
- High-speed imaging technology captures images of payments and correspondence such as patient stubs and Explanation of Benefits (EOBs) from payers.
- Web-based portal with customized workflows, expediting follow-up and item resolution.
- Portal provides visibility of claim-to-payment life cycle with seven years of archived data.
Searchable documents or image indexed files integrated with your medical billing platform or image software.
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Empower Receivables Management Through Automation
Interested in learning how you can reduce costs associated with lockbox fees and manual paper payments? Discover how RemitConnect® can automate your entire remittance and payment reconciliation process, saving you time and money.
Enhanced lockbox services
- Customizable workflows for insurance and patient payment posting, denial management and correspondence processing.
- Search by payer name, patient ID number, date of service and other EOB information.
- Search, view and print lockbox batches.
- Reconciliation reports available to simplify balancing.
- Payment research through web-based portal.
- Robust audit tracking and noting capabilities.
- Prevent posting errors through automated control total for posting and transactions count.
Learn more about how CommerceHealthcare® can improve your organization’s financial performance. Speak with a healthcare finance professional about your specific challenges.
