What if you could simplify and streamline healthcare payments so that they are received faster and require less effort to post?
HealthcarePays automates the entire back-end payment system for the Provider Healthcare system
HCP has established a completely electronic payment network system for all Providers regardless of specialty. The network takes virtually all of the manual effort out of receiving and posting check and Remittance Advices in the back office suite. How does it work? Let us tell you!
Simplifying and streamlining healthcare payments
- Getting all your payments for all your insurance companies each day via one deposit directly to your bank account matching dollar for dollar to one standardized Electronic Remittance Advice (ERA).
- No more trying to figure out how to read different ERA formats.
- No more having to go multiple places to find your ERAs.
- No more trying to figure out what payments go with what ERAs.
- No more having to get the mail, open an envelope and pull out, sort and manage paper remittance information or paper checks.
HealthcarePays EFT / ERA reconciliation and consolidation eliminates administrative redundancy and provides a transparent payment network that conveniently connects to providers’ existing billings systems, practice management software and clearinghouses.
Receiving healthcare payments faster
Waiting less time to receive payments. What more could providers ask for?
How about the following added benefits:
- Providers no longer have to rely on the inconsistency of the Post Office to bring them their data and money.
- No more lost, stolen, or delayed payments.
- Improved Cash flow, Electronic Funds Transfers (EFT) are normally received faster than a paper check in the mail.
- Using EFT, money is available for use immediately. No waiting for checks to clear.
- Number of days of AR is decreased.
- The quicker the money and data are received and posted, the quicker discrepancies can be identified and either rebilled or corrected.
As convenient as direct deposit payroll and online bill pay, HealthcarePays is committed to a marketplace understanding that providers should not have wait for payments to arrive and to pay unnecessary fees to receive monies owed them for providing patient care.
Increasing automation of healthcare payments
Most practice management systems have the capability of importing payment data into their system. We can provide an ERA in a PDF format as well as an EDI format that can be imported straight into your practice management system.
No more manually posting payments.
- Receive your payments the way you want them (timing, format, etc…)
- ERAs and EFTs are reconciled & consolidated and provided at the same time
- Import payment information straight into your practice management system
- No longer forced to accept expensive methods to get your money (e.g. credit cards with their high fees) that benefit the insurance company and cost you.
- With increased access to data, learn how your operations compares to others in the aggregate when it comes to rates, efficiency, and revenues
- No changes required in regards to existing clearinghouses, billing systems, banks or practice management systems
- Keep your bank accounts and financial information out of reach from health plans and others in the system
- Improve revenue recognition as all payments are handled exactly the same, no matter the source
- Never worry about changing banks, billing systems or practice management software, this payment network follows you, not the other way around
Would you like to know more? Let’s discuss!
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