Concuity Announces the Availability of EOB PRO for Healthcare Providers
Concuity, a healthcare division of Trintech (NASDAQ: TTPA), today announced the availability of EOB PRO for ClearContracts, its web-based, revenue cycle management system. ClearContracts helps healthcare providers identify and correct underpayments due to payer non-compliance in the contract revenue cycle. EOB PRO converts paper-based Explanation of Benefits (EOBs) into HIPAA standard 835s, eliminating the intensive, manual process of posting paper EOB payments to a healthcare billing system.
EOB PRO allows providers to consolidate various paper and/or electronic remittances into a single stream of data that eliminates time-consuming and error-prone manual data entry; enhances the ability to recover revenue; provides image and data archive capabilities; and increases control and visibility into healthcare transaction processes. With EOB PRO, providers can focus on other core business issues, such as identifying denied, delayed, and inaccurate reimbursements identified in the ClearContracts solution.
“Today, EOB PRO is performing daily paper EOB conversion for a large healthcare system in the northeastern United States. They’re converting thousands of paper-based transactions per month for regional and national payers,” said David Rodriguez, Director of Product Marketing. “Since implementing EOB PRO, the healthcare system has not needed to hire additional staff to post payments, reduced the need for mandatory overtime for current staff, and eliminated the need for additional office space to house both staff and documents.”
By utilizing EOB PRO in conjunction with ClearContracts, clients maximize their return on investment. All transactions are integrated, and 100% transparency is provided to all remittances. For clients contending with underpayments and denials, this provides both savings in time and recovered dollars. EOB PRO captures all patient and payment data from EOBs, as well as normalizing EOB reason codes, which is essential for denials management.
“Our goal is to help healthcare providers solve operational issues while improving their margin and cash flow,” said Ed Gallo, EVP Healthcare Business Group, Trintech. “With EOB PRO and ClearContracts providers can automate claims billing processes, increase clean claim submissions, and improve resource allocation; thereby, generating a higher level of financial performance that will drive the quality of care and efficiency in our healthcare system.”
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