Last week, Zelis Payments focused on the first of three challenges identified by business management and billing professionals from an informal poll during this year’s HBMA Healthcare Revenue Cycle Conference in Phoenix, AZ.
Today, we’ll address the second challenge – Maximizing Resources. This is a challenge that every business at one time or another must face. It’s the age-old problem of “how do I do more with less?”
Among billing companies, the issue of increasing throughput is compounded with the need to decrease error rate. It is here where electronic transactions can benefit billing companies. Utilizing ERA files helps reduce errors by eliminating the need to manually enter data. Manual entry increases the likelihood of transcription and transposition (keying in numbers in the wrong order, such as $23 versus $32) errors, which cost time and require re-work.
How Zelis Payments Adds Additional Efficiency to EFT/ERA Transactions:
Zelis offers aggregation of 835s, which means Zelis Payments delivers one 835 file for all payers for the days when payments are available. For large providers, such as hospital and health systems, many aggregation options are available.
Zelis Payments represents well over 150+ payers and their associated groups. These payers include smaller payers such as TPAs, Self-Insured Payers or Taft Hartley funds, which historically experience a much smaller adoption rate when it comes to EFT/ERA transactions. By aggregating data, Zelis Payments makes it easier to accept 835s from multiple payers. Additionally, all payer files are audited and placed into a standardized format to streamline data handling.
Single Sign-On Provider Portal
Billing companies require lots of logging into and out of online portals to access and process payment data and download 835s on behalf of a payer clients. This necessitates the need to keep track of logins and passwords for each provider and spend unproductive time logging in and out.
Zelis Payments has developed a soon to be released Single Sign-On Portal, which provides a seamless cross-provider portal interface for billing companies – eliminating the need for billing companies to maintain multiple logins to service all Zelis Payments provider clients. This interface enables users to navigate between all Zelis Payments clients and their hierarchy of TINs via a simple drop-down menu and dashboard.
Next week, Part III of this three-part series will look at the final and most problematic challenge – the time required to process virtual payments.