Norman Picard, TMR’s COO, said, "The combination of i-Remit and HPAC resolves many of the problems faced by medical administrators in managing payments for healthcare services, including the desire to streamline paper, reconcile payments, slash outstanding receivables and shrink back-office costs to ultimately improve cash flow."
Paper-based Explanation of Benefits (EOBs) forms and their electronic equivalents, Electronic Remittance Advices (ERAs), vary by insurance company, forcing healthcare providers to change posting rules for different insurance payers.
After scanning with TMR’s CITATION(TM) i-Remit, HPAC converts all EOBs and ERAs into single or multiple reconciled EDI 835 file(s) and automates posting of receivables into patient accounting systems and hospital information systems for straight-through processing levels of efficiency. HPAC includes EFT/ACH Reassociation to ERA, denials management reports and uses HIPPA-compliant archives of payment information.
"Already operating successfully in the field, this solution will help banks of any size gain a clear competitive advantage when pitching business services to healthcare professionals," Picard said. Additionally, TMR’s unique Business Builder(TM) service with complimentary sales and marketing support helps banks build its client base faster and facilitates a powerful ROI.
"The partnership of TMR and Orbograph creates a powerful combination for treasury management services," stated Barry Cohen, Co-President of Orbograph.
"TMR’s strength in remittance and bank processing complements Orbograph’s comprehensive healthcare revenue cycle (RCM) suite. We look forward to working with TMR to support their new and existing bank clients who wish to play a larger role in healthcare payments."
