Hospitals face increasing challenges in securing full and prompt payment for patient services. Accounts Receivable staff need to manage a complex series of back-and-forth interactions with a host of insurers in order to secure payment. Personnel spend too much time balancing figures, posting, filing and retrieving hard copy documents. Large volumes of paperwork are generated, exposing the hospital to delays, errors and inefficiencies. Cashflow is hard to analyse and queries are difficult to resolve.
The SoftCo Remittance Processing solution
SoftCo Remit is designed specifically for the hospital business office delivering a single solution to process electronic and paper remittance advices (EOB’s). By automating remittance processing, it removes cumbersome manual tasks and provides a complete information repository based on each episode of patient care. Integrated with existing Hospital Information Systems, SoftCo Remit automatically posts payments and offers seamless access to all documents at any time.
Remittance Processing can be delivered on-premise or via SoftCo Cloud
- Automation saves time and cuts costs
- Fast retrieval of client and third party information requests
- Reduced AR days through accelerated billing
- Single point-of-access to all financial information
- Seamless integration with HIS systems
- EDI transactions are easy to read, searchable and retrievable