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Healthcare Receivables Management

Healthcare providers continue to bear the challenge of a complicated reconciliation and posting process when it comes to healthcare receivables management. This is due to a wide variation in payment and remittance formats in the industry.

RemitConnect®, by CommerceHealthcare®, is healthcare receivables management that automates the entire receivables posting and reconciliation process. The service starts with leveraging the CommerceHealthcare® network to ensure your organization is obtaining automated information from your payers, removing the paper.

Our healthcare receivables management technology streamlines reconciliation and posting through an exception-based workflow across your revenue system(s). By automating payment and remittance reconciliation prior to posting, we can help keep your patient balances clean, avoiding unnecessary adjustments and refunds. With RemitConnect®, your organization can scale to support growth and mitigate system conversion issues. Implementation is easy and our technology integrates with all revenue systems.

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Peer Reviewed by HFMA®

Following a rigorous review, RemitConnect® has the distinct honor of earning the “Peer Reviewed by HFMA®” designation. The award reflects the value RemitConnect® delivers healthcare providers by streamlining the receivables posting and reconciliation process. The solution was recognized for increasing cash flow, reducing financial risks and helping avoid unnecessary adjustments and patient refunds.

A unified platform for all healthcare receivables

From checks and paper Explanation of Benefits Statements (EOBs), to Electronic Remittance Advice (ERAs) and Electronic Fund Transfers (EFTs), RemitConnect® addresses all aspects of receivables management.
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Simplifying healthcare’s complex payments and reconciliation process

RemitConnect® takes much of the complexity and difficulty out of healthcare’s payment and reconciliation process, enhancing the claim-to-payment life cycle.

Key differentiators

  • Optimize insurance payment forms, analyzing your receivables process to leverage the fastest and most cost-effective payment type and reduce merchant and banking fees

  • Build a successful payer program, our team will conduct regular surveillance program, working directly with your team to keep receivables automated, reduce cost and increase efficiencies

  • Program support and implementation from healthcare industry experts who understand your needs and processes

Key benefits

  • Automates manual posting and reconciliation processes, reducing administrative burdens and enabling staff to spend more time on collection efforts

  • Alleviates system conversion issues by splitting remittances across multiple revenue systems reconciling payments and providing general ledger reporting

  • Reduces costly banking fees associated with lockbox and card payments from insurance payers

  • Converts paper EOBs to Electronic Remittance Advices (ERAs/835 files)

  • Maps claim adjustment reason codes by payer

  • Routes correspondence and denials via paperless workflows, enhancing accuracy and timing

  • 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 revenue system or image software

"Many of our accounting staff were moved to remote positions as a result of COVID-19. The RemitConnect® application has allowed our staff to seamlessly transition, as the program is web-based and accessible anywhere. RemitConnect® has permitted the payment posting and accounting staff to effectively and efficiently receive and post remittance advices, receive and follow up on correspondences and receive and complete accounts payable items. RemitConnect® has also simplified the ability to search for patient data, complete research and fulfill audit and patient requests." Amy Ireland, Chief Revenue Officer, Carroll County Memorial Hospital

Your strategic financial partner

Finding solutions to your organization’s biggest financial challenges isn’t easy, but you are not alone. Our team of healthcare finance professionals are ready to help your organization overcome its receivables management challenges. From advice on managing payers to best practices for increasing cash flow, CommerceHealthcare® is your strategic financial partner. Our team consists of highly-experienced leaders with a successful track record in and supporting the healthcare industry. Your organization will receive customized financial solutions developed specifically for your organization and patients.

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