Explanation of Benefits Processing
In the healthcare industry, the priority is patient care. But to keep the business running you need to get paid for all the work. The majority of your income comes from insurance payments. But keeping track of all the payments in the massive Explanation of Benefits (EOB's) sent with the payments by insurance companies is an enormous challenge in itself. EOB's can be anywhere from one to several hundred pages long. The massive cost associated with storing these documents can put a strain on any size practice. Fortunately, DocuVantage® has a solution.
DocuVantage's EOB online storage solution is an easy to use, affordable, on-demand service. There is never any hardware to maintain, software to install or upgrade fees to pay. And you can be up and running in hours or days, not months. Streamline the entire process - from document creation through document management, routing, approval, collaboration and even records retention scheduling - all for a low monthly subscription fee.
DocuVantage OnDemand® allows you to:
- Store and keep track of all your EOB's and related payments
- Eliminate the need for physical storage of thousands of pages of paper documents
- Never lose, misfile or misplace an EOB again
- Ensure all of your reconciliation procedures are automated without having your staff leave their desks
- Retrieve any and every EOB with a few clicks of a mouse
Beyond storage, there are many compliance issues surrounding healthcare documents (e.g., HIPAA). With DocuVantage OnDemand, you can ensure your documents are secured covered and fully compliant. In healthcare audits, lost documents can mean large fines. Don't gamble with your files.
DocuVantage OnDemand isn't just an EOB storage solution; you can share the same system with your co-workers in other departments. One solution for all your companies document and records management needs. All of your information is at your fingertips, from anywhere, at anytime.
- Cut EOB storage costs down to pennies
- Never lose an EOB again
- Rapid Deployment=Rapid ROI
- You can be up and running today
- Guaranteed user adoption with the user friendly, flexible interface
- Know the status and location of every EOB in your system
- Enable staff members to view EOBs simultaneously
- Never misplace a document again
- Eliminate rows of filing cabinets and the costs associated with file storage
- Build new examination rooms from old storage rooms
- No hardware, software or IT resources needed; we manage the application 24/7
- Electronically scan and store every incoming EOB and eliminate the paper copy
- Capture and secure all EOBs (mail, email, and fax) and all associated payments
- Streamline the life cycle of EOBs by storing them online for easy viewing
- Have a complete record of who viewed, modified, and edited information
- Full Text Search to quickly find and retrieve information; easily complete reports by insurer or date
- Easily store and retrieve reports
- Ensure confidentiality and security
- Create a searchable database of all EOB documents
- Your staff can locate and view the documents they need without leaving their desk
- Simultaneous access to EOBs so staff can share
- Quickly process EOBs to allow for secondary billing of unpaid claims
- Store and retrieve all related documents, insurance cards, HCFAs, claims, payments, etc.
- Control all of your EOB and related documents in one secure searchable online location.
- Feature rich document management functions like check-out and check-in, version control and collaboration.
- Capture and store e-mail, faxes, and electronic documents in a single secure, searchable repository.
- Easy to Use Drag and Drop file capture.
- Complete auditing and tracking of all views and modifications.
- Full-text OCR and imaging of all documents.
- Search based upon full text or index values, search by vendor name, date, amount, etc.
- Share documents with external parties like offsite workers or staff from other departments.
- Built in retention features to keep only those documents you need.
Gessler Clinic - EOB Processing