REMITTANCE PROCESSING

In today’s scenario, hospitals, group medical practices, and clinics face a lots of challenges everyday - that of processing a large amount of EOBs or remittance paperwork on a daily basis which accompanies the payments received from insurance payers.On an average, more than 20% of the medical payments today are keyboarded manually due to the inability of payers to provide an electronic remittance advice back to the providers. This process, also known as payment posting, is very important as any wrong posting can result in inaccurate accounting, further causing problems down the line.