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Fifth Third Bank Teams with Leading Healthcare Providers to Deliver a Claims-to-Payment Business Intelligence Platform
Date:4/3/2008

CINCINNATI, April 3, 2008 /PRNewswire-FirstCall/ -- Fifth Third Bank today announced a strategic alliance with GHN-Online and Revenue Management Solutions (RMS), leading providers of revenue cycle management services to the healthcare industry, that will deliver a comprehensive claims processing and remittance solution for healthcare providers. The alliance will enable Fifth Third Bank to capture the entire data stream -- from claims to payments -- and integrate the data into a single, Web-based view of healthcare providers' accounts receivables.

Healthcare providers often lack a complete understanding of their accounts receivables due to insufficient data, which leads to claims denials, write-offs and lost revenue. Fifth Third Bank's alliance with GHN-Online and RMS aims to address this issue by providing all stakeholders -- including healthcare customers -- with information transparency and enhanced visibility into claims reimbursement intelligence.

"Until now, the banking industry has focused on offering lockbox services to manage payments for their healthcare customers," says Nav Ranajee, vice president and director of Healthcare Solutions at Fifth Third Bank. "We see the healthcare lockbox as just one piece of the healthcare claims reimbursement puzzle, and we are moving up the value chain to offer a service that enables our healthcare customers to unlock the value of their account receivables."

The predictive analytics offered through this platform will help optimize claims reimbursement and help healthcare providers take corrective action on gaps in the remittance management process. With a comprehensive view of accounts receivables, healthcare providers can be in a stronger position to obtain preferred bank financing to fund their operations.

"Healthcare providers have a simple goal -- to get paid and get paid quickly," says Kevin Lavender, senior vice president and head of national healthcare for Fifth Third Bank. "We are
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SOURCE Fifth Third Bancorp
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