10 Ways Healthcare Lockboxes Can Help CFOs Enhance Their Revenue Cycle
1. Eliminates tedious manual processes
2. Consolidation of reimbursement information
3. All on the same page
4. Shortens payment TAT
5. Better receivables data management
6. Minimizes administrative efforts
7. Large volume? No issues
8. Expedites remittance tasks
9. Highly secure
10. No more single checks
1. Eliminates tedious manual processes
Manually processing EOBs is cumbersome. Lockboxes enable staff to create auto-postable records of EOBs easily. Explanation of Benefits is imaged and converted into electronic documents. The data in the documents are reconciled with medical claims and payments. This saves truckloads of time.
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