Navigation Links
Healthcare Providers Now Able to Perform Real-Time Patient Eligibility Verification
Date:12/2/2008

New SunTrust eClaim Revenue Gateway Alleviates Insurance Claim Processing and Payment Challenges for Healthcare Providers

ATLANTA, Dec. 2 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE: STI) today announced a new healthcare receivables solution for medical and dental practices of all sizes, as well as hospitals. SunTrust eClaim Revenue Gateway helps providers accelerate insurance claim submissions as well as payment collection and processing so that they can focus more time and resources attending to patient healthcare needs. eClaim Revenue Gateway is a secure, full-service online solution that in a single platform offers providers the ability to streamline and expedite the claim-to-payment process - from eligibility verification and claims submission to payment receipt and reconciliation of claims data.

"We hear from our healthcare clients that they continue to be challenged with managing electronic and paper claim submissions and then reconciling the associated payment and remittance data - all while dealing with multiple health plans, disconnected systems, and regulatory and privacy mandates such as HIPAA," explained David Fuller, executive vice president and division head, Treasury & Payment Solutions, SunTrust. "With eClaim Revenue Gateway, clients are better able to integrate the claim process with the payment services traditionally delivered by a financial institution, thus providing opportunities for increased operational efficiency and faster access to cash receivables."

One of the greatest benefits of eClaim Revenue Gateway is its ability to perform real-time eligibility requests on behalf of the healthcare provider. The service also provides online access to view claim status and to manage the claim denial process. Through a comprehensive program which includes the real-time eligibility verification, a rigorous upfront claim submission vetting process, and online access to claim status, the rate of rejected claims with eClaim Revenue Gateway is substantially reduced.

"In today's economy there's an increased urgency to accelerate collections," added Nick Alex, senior vice president and director of product management for SunTrust Treasury & Payment Solutions. "Currently, though, the average medical or dental provider has between 60-120 days of outstanding claims on their books. eClaim Revenue Gateway brings a much-needed improvement to this process."

Providers can use their existing claims processes and systems, or SunTrust eClaim Revenue Gateway software, to upload their electronic claim file, and SunTrust will securely transmit the claims to the full range of participating third party payers. eClaim Revenue Gateway then reconciles payment advices received both electronically and by paper copy. Paper advices received at a SunTrust lockbox are imaged and optical character recognition (OCR) technology converts the required data for electronic processing. All payment advice information is combined and compared to the provider's submitted claims. A fully reconciled electronic file is then created, which providers can easily integrate into their existing practice management or hospital information system for posting - helping keep financial records more current.

Additional benefits of eClaim Revenue Gateway include:

  • Greater flexibility. Multiple implementation options can better meet providers' specific needs and existing systems currently in use.
  • Minimized errors. Erroneous, duplicate, and incomplete claims are reduced during the screening provided by the solution.
  • Maximized cash flow. Claims-on-hand and average claims-to-cash reimbursement cycle days can be reduced, allowing faster posting of funds.
  • Improved workflow. Eligibility verification and claim substantiations can be processed faster; bad debt and collection issues can be reduced.
  • Increased access. More than 1,200 insurance companies (payers) are connected to the system.
  • Enhanced reporting and tracking. Providers can trace submitted, accepted and rejected claims by patient, payer and procedure codes - or by nearly every data element of a claim, minimizing time spent researching.
  • Simplified usability. Intuitive navigation and hover technology facilitates faster access to payment and claim data within the solution creating a positive user experience.

For more information about how healthcare providers can optimize processing efficiencies visit www.suntrust.com.

About SunTrust Treasury & Payment Solutions

SunTrust's Treasury & Payment Solutions division provides a complete range of integrated treasury solutions to help clients effectively manage their payables, receivables, and cash position. These solutions enable companies of all sizes to better navigate today's complex payments environment, overcome time and staffing constraints, and implement appropriate financial and operational controls. Reflecting SunTrust's strong commitment to quality, the bank's treasury solutions recently received A or A+ ratings in 17 out of 18 product categories, as well as high marks for client services and knowledgeable specialists, according to a Phoenix-Hecht middle market survey. It is also a 2008 winner of the Greenwich Excellence Award in middle market banking for Treasury Management Accuracy of Operations. The bank's Fraud Inspector(SM) service recently won the Most Innovative Feature in the Barlow Research Associates Monarch Innovation Awards. SunTrust is also a top 10 commercial card issuer and cash management provider in the United States.

About SunTrust Banks, Inc.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2008, SunTrust had total assets of $174.8 billion and total deposits of $115.9 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com.


'/>"/>
SOURCE SunTrust Banks, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Quest Diagnostics to Speak at the 20th Annual Piper Jaffray Healthcare Conference
2. Emdeon Convenes Industry Forum to Monitor Business Efficiency in Healthcare
3. MedCommons HealthURL, a New Unified Clinical Viewer Appliance, Is Integrated with EMC Open Systems Archive Solution for Healthcare Organizations
4. Genoptix Announces Participation at the RBC Capital Markets 2008 Healthcare Conference
5. LCA-Vision to Present at RBC Capital Markets 2008 Healthcare Conference
6. Resurrection Health Care Named One of Nations Best Places to Work in Healthcare
7. HeadHunterHealthExchange.com Launched to Enhance Healthcare Recruitment for Employers and Recruiters
8. HMS Holdings Corp. To Present at The 20th Annual Piper Jaffray Healthcare Conference
9. WuXi PharmaTech to Present at 20th Annual Piper Jaffray Healthcare Conference
10. CNSI Selects Edifecs Healthcare Accelerator Suite(TM) for MMIS Solution to Support South Dakota Medicaid Program
11. DURECT Corporation to Participate in Upcoming Healthcare Conferences
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... Oklahoma City, Oklahoma (PRWEB) , ... June 25, ... ... to helping both athletes and non-athletes recover from injury. Recently, he has implemented ... for the Oklahoma City area —Johnson is one of the first doctors to ...
(Date:6/25/2016)... ... June 25, 2016 , ... Conventional wisdom preaches the benefits of moderation, ... the latter, setting the bar too high can result in disappointment, perhaps even self-loathing. ... toward their goal. , Research from PsychTests.com reveals that behind the ...
(Date:6/24/2016)... Marne, Michigan (PRWEB) , ... June 24, 2016 , ... ... To deal with these feelings, many turn to unhealthy avenues, such as drug or ... Center of Marne, Michigan, has released tools for healthy coping following a traumatic event. ...
(Date:6/24/2016)... ... ... in a crisis. Her son James, eight, was out of control. Prone to extreme mood ... something upset him, he couldn’t control his emotions,” remembers Marcy. “If there was a ... children and say he was going to kill them. If we were driving on ...
(Date:6/24/2016)... ... 24, 2016 , ... Global law firm Greenberg Traurig, P.A. announced that 20 ... by their peers for this recognition are considered among the top 2 percent of ... honors as members of this year’s Legal Elite Hall of Fame: Miami Shareholders ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... -- Research and Markets has announced the addition ... - Forecast to 2022" report to their offering. ... to date financial data derived from varied research sources to ... potential impact on the market during the next five years, ... of sub markets, regional and country level analysis. The report ...
(Date:6/23/2016)... and INDIANAPOLIS , June 23, 2016 ... Lilly Diabetes Tomorrow,s Leaders Scholarship is any indication, the ... announced today online at www.diabetesscholars.org by the ... diabetes stand in the way of academic and community ... Foundation,s scholarship program since 2012, and continues to advocate ...
(Date:6/23/2016)... June 23, 2016 Research and ... Procedure Volumes: Global Analysis (United States, China, Japan, Brazil, ... report to their offering. ... for healthcare business planners, provides surgical procedure volume data ... trends with an in-depth analysis of growth drivers and ...
Breaking Medicine Technology: