Easy & Quick Payment Posting—Better your collections and cashflow
Accurate Payment Posting is a key step and integral part of the medical billing cycle and provides a deep insight into the practice’s financial health and revenue stream and helps promptly catch potential fallouts and address them. A well-oiled payment processing tool and process helps you identify payment trends, profit margins, opportunities to increase revenues, address denials faster, and iron out the deficiencies in the overall billing process.
An average of greater than 20% of medical payments are keyboarded manually due to the lack of payer’s ability to provide an electronic remittance advice (EDI 835 or ERA) back to the providers. This eventually costs a lot of time and resources to enter those payments manually. Furthermore, a wrong posting can result in inaccurate accounting causing unforeseen problems. ERAs and EFTs are advanced electronic tools allowing you help save time and money.
Click to learn more about OmniMD’s eRemittance and Fund Transfer capabilities
Accurate and Flexible Payment Posting
- Reconcile payments to last penny accurately
- Quickly post payments for multiple responsible parties
- Post a single payment to all patients listed under one responsible party
- Accurate primary payment posting leads to accurate secondary payer billing
- Go paperless by scanning or drag/drop your scanned payments and denials
- Reconcile against a single or multiple responsible parties
- Reconcile a payment to all patients under one responsible party
- Avoid lost paper copies of payments and denials
Increase Payment Collections with Credit Card Integration
- Accept patient payments seamlessly over phone or at office
- Accept payments via debit and credit cards
- Auto post credit card payments in your EHR or PM system
- Encryption of all financial transactions
- Convert most of your payers to electronic remittance
- Replace your process to post EOB manually and manually matching payments
- Automated ERAs help you post hundreds of patients with one click
- Printable version of ERA makes it easier to submit COB (coordination of benefits) claims
- Eliminate manual posting to bring annual savings upwards of $10,000
- Easy denial organization
- Real-time analytical reports to provide better clarity on payment pattern and frequency
- Enhanced and focused collection efforts with electronic payment posting
- Address denials faster and decrease in denials
Electronic Funds Transfer (EFT)
- Secure, efficient, and convenient process to electronically deposit claim payments to bank accounts.
- Faster access to payments as compared to paper checks
- Easily match payments to remittances
- Secure and confidential deposits of claims payments
- Reduced handling time by staff members and paper usage, reducing administrative cost
- Easy to search and reporting tool
- Eliminate lost paper checks, inaccurate credit deposits, etc.
Flexible Payment Plan
- Create payment plan for your patients falling behind on payments
- Preview statements before processing
Get Started with these Simple Steps
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User friendly tracking of payments and its details like Payer, Payer Type, and Payment
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