Optimize Your Revenue Cycle with BlackRokk’s Remittance Processing Services

While coding and clinical documentation are often seen as the pillars of effective medical billing, remittance processing is a critical component that provides invaluable insights into the health of your revenue cycle. At BlackRokk, we don’t just post payments—we unlock the hidden potential within your payment data to improve overall financial performance.

Our remittance processing services go beyond traditional payment posting. We analyze trends and identify key areas of improvement, such as denial patterns, prior authorization issues, non-covered services, and the quality of clinical documentation and coding. By partnering with us, healthcare providers gain a comprehensive view of their revenue cycle, enabling informed decisions and strategic enhancements.

Our Remittance Processing Services Include:

Electronic Remittance Advisory (ERA) Posting

• Efficient Batch Processing: We handle high volumes of electronic remittances by loading ERA files into your revenue cycle system. Our team manages exceptions and makes necessary corrections, ensuring accurate and timely processing.
• Advanced Exception Management: Utilizing the system’s functionality, we address discrepancies and optimize the accuracy of payment postings, minimizing manual interventions.

Manual Payment Posting

• Detailed EOB Processing: We extract payment data from scanned images of Explanation of Benefits (EOBs) and post each line item to the appropriate patient accounts. This meticulous process ensures accurate payments, adjustments, write-offs, and balance transfers, following practice-specific business rules.
• Customized Business Rules: We collaborate with you to develop tailored business rules, ensuring every transaction is processed in line with your unique policies and requirements.

Denial Posting & Management

• Comprehensive Denial Analysis: Our team is well-versed in ANSI denial codes and payer-specific remark codes. We post denials into your practice management system, taking necessary actions such as secondary billing, balance transfers, adjustments, and routing denied claims to the appropriate work queues.
• Proactive Denial Handling: By identifying denial trends, we help prevent future occurrences, working closely with your coding and denial management teams to resubmit claims promptly.

Patient Payment Posting

• Multi-Channel Payment Processing: We accurately post patient payments received via various channels, including POS collections, checks, and online portals. Our team ensures all payments are accounted for, resolving any credit balances and transferring pending balances to secondary insurers if needed.

Automated Tools for Payment Posting

• Intelligent Payment Processing Platform: Our OCR-enabled platform reads printed EOBs and presents transactions in a user-friendly format for rapid processing. This system integrates seamlessly with third-party revenue cycle platforms, enabling high-efficiency payment posting.

Value Proposition for BlackRokk’s Remittance Processing Services:

• Comprehensive Analytics: We provide detailed production and quality reports, along with insights into denial trends, non-covered services, prior authorization challenges, and point-of-service collection issues. This data-driven approach empowers you to make informed decisions and improve revenue cycle performance.
• Policy Development for Write-Offs & Adjustments: We assist in developing clear policies for write-offs and adjustments, reporting any unusual contractual adjustments during payment processing.
• Efficient Denial Handling: Denied claims are routed to the appropriate teams for swift rework and resubmission, minimizing the impact on your cash flow.
• Secondary Claim Filing: We identify claims eligible for secondary payers and process them efficiently, ensuring that all potential revenue is captured.
• Knowledge Management: Our knowledge management tool, Knol, stores and updates business rules and process documentation, ensuring our team is always aligned with your evolving needs.
• Real-Time Dashboards: Our dashboards provide instant access to key performance indicators, offering a clear view of process health and enabling continuous improvement.

At BlackRokk, we turn remittance processing into a strategic asset that enhances your revenue cycle. Partner with us to unlock valuable insights, streamline your payment processes, and achieve optimal financial performance.

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