Financial Institutions: Maintaining Your Current Banking Relationships and Lockbox Services
Banks provide several key services in the Revenue Cycle, starting with being the recipient of funds as well as EOBs and Correspondence via lockbox services. Selecting a capable partner is crucial to ensuring that the capture process starts smoothly. Banks partner with us to offer their healthcare customers the capability to streamline and accelerate their payment posting. RCMS can work with your existing Bank and Clearinghouse partners — from claims capture and remittance processing to payment posting and funds distribution.
RCMS solutions maintain existing corporate banking relationships, centralizing all your EOB, claims and correspondence requirements.
- Use of a single corporate bank account to track and report on all incoming deposits
- Provide for splitting/parsing of co-mingled remittance for different business units
- Lockbox services for centralized EOB, claim and correspondence capture
- Practices can maintain existing Banking relationships and Clearinghouse accounts
- Experienced with dozens of banks at both the national and regional levels
- Processing for multiple Practice Management systems to a single-receiver business model
- Bank reconciliation of all corresponding funds that have been deposited
- Detailed reporting that confirms all funds have been recorded
National and Regional Banking Experience
RCMS is experienced in working with National and Regional Banking partners that serve Healthcare Systems, Hospitals and Group Practices. We access their lockbox services on a daily basis and enjoy a trusted relationship that benefits our mutual clients with secure, dependable services in streamlining the patient payment posting processes. This helps our clients to process payments faster and get paid sooner.
Contact RCMS to learn how we can improve your revenue cycle while maintaining your existing corporate banking relationships. Let us know if you have questions about working with a specific Bank or Lockbox Service.