eRemittance and Fund Transfer

OmniMD e-Remittance and Fund Transfer

Easy & Quick Payment Posting Better Your Collections and Cashflow

Accurate Payment Posting is a key step and integral part of the medical billing cycle and provides a deep insight into the practice’s financial health and revenue stream and helps promptly catch potential fallouts and address them. A well-oiled payment processing tool and process help you identify payment trends, profit margins, opportunities to increase revenues, address denials faster, and iron out the deficiencies in the overall billing process.

An average of greater than 20% of medical payments are keyboarded manually due to the lack of the payer’s ability to provide a piece of electronic remittance advice (EDI 835 or ERA) back to the providers. This eventually costs a lot of time and resources to enter those payments manually. Furthermore, a wrong posting can result in inaccurate accounting causing unforeseen problems. ERAs and EFTs are advanced electronic tools allowing you to help save time and money.

OmniMD Medical Billing Software offers robust payment posting and processing tool to automate your payment posting process

Easy and quick EOB and ERAs reconciliation

Seamless credit card payment processing

Manage refunds and reversals with ease

Clear Patient responsibility

Segregating Denials faster

Faster remits with EFT deposits to your bank account.

Uncover underpayments and overpayments with contract management reports

Line items reporting containing payment details, non-covered services, refunds, and reversals.

Automated and quick Write-offs and adjustments

Click to learn more about OmniMD’s eRemittance and Fund Transfer capabilities Schedule a Demo

FEATURES

Accurate and Flexible Payment Posting

Reconcile payments to the last penny accurately
Quickly post payments for multiple responsible parties
Post a single payment to all patients listed under one responsible party
Accurate primary payment posting leads to accurate secondary payer billing

ERA Posting

Convert most of your payers to electronic remittance
Replace your process to post EOB manually and manually match payments
Automated ERAs help you post hundreds of patients with one click
A printable version of ERA makes it easier to submit COB (coordination of benefits) claims
Eliminate manual posting to bring annual savings upwards of $10,000
Easy denial organization
Real-time analytical reports to provide better clarity on payment patterns and frequency
Enhanced and focused collection efforts with electronic payment posting
Address denials faster and decrease denials

EOB Posting

Go paperless by scanning or dragging/dropping your scanned payments and denials
Reconcile against a single or multiple responsible parties
Reconcile a payment to all patients under one responsible party
Avoid lost paper copies of payments and denials

Electronic Funds Transfer (EFT)

The secure, efficient, and convenient process to electronically deposit claim payments to bank accounts.
Faster access to payments as compared to paper checks
Easily match payments to remittances
Secure and confidential deposits of claims payments
Reduced handling time by staff members and paper usage, reducing administrative cost
Easy to search and reporting tool
Eliminate lost paper checks, inaccurate credit deposits, etc.