Automate critical payment processes to reduce costs, identify opportunities and accelerate payments

Unify and simplify the payment process

Billing and insurance-related costs make up the largest share of administrative burden for most health systems, due to the complexity of the payment process that varies dramatically across insurers.

Without an automated remittance management process, systems can experience:

• Delays or inaccurate payment posting
• Unidentified or partial payments
• Payment discrepancies and chargebacks
• Lack of transparency and accountability for audits and payment activity
• Increased denials
• Increased administrative costs
• Manual processes requiring significant time from employees
• Inefficient reconciliation via spreadsheets

At MediStreams, we work closely with health systems to improve payment processing efficiency and enhance the patient experience, minimize billing errors and automate processes. To protect personal healthcare information (PHI), our web portal archive undergoes extensive audits to ensure compliance and security. We provide the only true end-to-end reconciliation solution in healthcare, with configurable posting files and reconciliation reports for your practice management, general ledger and enterprise resource planning (ERP) systems.

Key Benefits:

• Reduce errors that lead to discrepancies in financial records and delayed revenue recognition
• Process payments more quickly
• Improve cash flow
• Reduce manual labor, leading to cost savings in staff and resources
• Project revenue more accurately and reallocate resources accordingly
• Enhance compliance and adhere to billing and reconciliation regulations