Medical Lockbox Services
Streamline and accelerate receivables and reduce back-office expenses.
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Simplifies collection of payments and correspondence
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Allows for quicker access to funds
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Eliminates opening, sorting, and processing mail
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Improves security by transitioning from paper to digital
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Reduces administrative costs
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Increases operational efficiency
AUTOMATE YOUR REMITTANCE PROCESSING WITH MEDICAL LOCKBOX SERVICES
Private insurance, Medicare, and Medicaid account for 73% of revenue for the healthcare sector, while 11% comes from patients themselves.1 As you know, accurate coding and efficient billing are integral parts of the revenue cycle. But let us not forget the constant influx of paper-based insurance and patient payments that follow, the management of which can be difficult and time-consuming. That's where Ameris Bank can help. We teamed with MediStreams to offer their industry-leading medical lockbox services as part of our treasury management services. A medical lockbox simplifies and automates insurance and patient payments for physician practices, medical centers, medical labs, hospitals, and all other healthcare providers.
Here's how it works. Your remittances are routed to a dedicated processing center for your business. Once received, medical lockbox specialists open your mail and promptly sort, scan, and process all payments and correspondence. Deposits are made daily to your bank account.
SECURE ONLINE ACCESS AND HIPAA COMPLIANCE
The MediStreams secure web portal gives you and your staff online access to all scanned images and documents archived for ten years. You can use the web portal's convenient search function to retrieve data based on the deposit date, check number, payment, patient name, account number, and other data on the explanation of benefits (EOB) or check.Next, ensuring the security of healthcare payments and sensitive patient information has become more crucial than ever. You can feel confident knowing that the MediStreams web platform complies with the regulations set forth by the Health Insurance Portability and Accountability Act (HIPAA).
MEDICAL LOCKBOX, YOUR WAY
Insurance companies and Medicare/Medicaid can be slow to reimburse healthcare providers for patient care.2 Ameris Bank is dedicated to helping you get your payments processed faster so you can get paid sooner. You will work with one of our experienced commercial bankers, who will recommend the right medical lockbox solution for your immediate and future needs.Our medical lockbox services can also be integrated with helpful features and add-ons. These include the conversion of paper EOBs to 835 posting files for input to an accounts receivable system, medical billing software, or practice management system. It's your medical lockbox, your way.
Talk to a Treasury Services Officer
1, 2 - Vertical IQ® Industry Report, US Healthcare Sector