Healthcare Solutions
The Issue
Every participant in the claim-to-cash revenue cycle acknowledges that handling paper is inefficient and costly. The industry developed standards to allow for the electronification of most of these transactions. Implementation of these electronic transactions, however, has produced limited and erratic results – especially on the EOB/payment side.
Because there are so many interpretations of the HIPAA-compliant 835 standard, providers that can accept these files must create custom programming and processes for each participating payer. This significant investment might be worth it if all payers were sending 835s; however, more than a decade after the first standard was published, many payers are still producing large amounts of paper, which requires manual posting – a costly activity.
Traditional lockbox services do not possess the sophistication to extract the data required to post claims and reconcile outstanding payments.
The Solution — Total835
NetDeposit's Total835 provides both a lockbox and EOB data extraction and conversion service that can meet the needs of any provider plagued with unwanted paper and dissimilar electronic files. Total835 serves as a collection point and conversion service for all varieties of incoming paper and electronic 835s and payments and provides a unified, consistent output for the provider.
When you outsource EOB processing to NetDeposit's Total835 service, you are taking advantage of a team with deep expertise in EOB processing, document imaging, data extraction, and HIPAA compliance. You receive payments into your account and a single file containing all of your 835 data.
Services Performed
- Receipt of all EOBs, payments, and existing 835 files at our secure, HIPAA-compliant lockbox facility.
- Imaging of all payment and remit-related documents are imaged.
- Extraction of claim-level data, payment data, and, optionally, service-line data from paper documents.
- Production of a standardized 835 file.
- Deposit of payments to your bank account.
- Access to archived 835 data and document images through a secure, password-protected web portal
Benefits
When you partner with NetDeposit to utilize our Total835 service, you will reduce costs and improve the effectiveness of your organization:
- Eliminate paper friction associated with processing remits and payments manually
- Ensure that a consistent set of data capture and posting rules is followed every day
- Reduce the time and expense related to processing your EOBs by receiving a ready-to-post file with all of your 835 data.
- Ensure compliance by utilizing our HIPAA-compliant operation
To learn more about Total835 and receive a price quote, click here.