MediStreams Grows Its Healthcare Mailroom Operation with Creditron’s ItemAge Express Platform
Thursday, October 27, 2016
Creditron, a leading provider of integrated receivables solutions, and MediStreams, a healthcare revenue management solutions provider, today announced the continued growth of their mailroom service as more and more providers outsource their remittance processing.
The use of paper remittance advices and checks in healthcare payments proves to be extremely costly to a provider or hospital. The healthcare industry imposes a great burden on HC providers to file claims, track and collect payments for their claims from patient’s insurance companies. The need for security and compliance with industry and government regulations puts an additional burden on providers and payers throughout the process.
This process is laden with manual labor associated with paper documents throughout the process. Estimates show that providers receive 30% of their remittances in the form of paper EOBs. Eliminating paper and the labor intensive data entry is the best way to streamline the remittance process.
Creditron’s IAX solution plays a critical role in the MediStreams solution process, enabling them to image/capture the client payments and associated documents and deposit the money in the bank for their clients. Each of the modules within the solution have been designed to reduce cost, increase efficiency and maintain compliance with all associated regulatory agencies.
Here are the top reasons why automation in Healthcare continues to grow and evolve:
- Cloud based with no paper to manage and store
- Advanced analytical tools for research and trending
- Integration to existing practice management and clearinghouse vendors
- Eliminate manual posting of paper remits
- Reduce overtime at month end
- Work correspondence documents online with indexing tools
- Automate reconciliation of EFTs to ERA
“It is a pleasure working with a partner that understands our mission and is willing to tailor to align their products and services to fit,” said MediStreams CEO James Coyle.