Healthcare Provider Software is capable of EOB conversion.
Press Release Summary:
EOB PRO integrates Explanation of Benefit (EOB) conversion capabilities into ClearContracts(TM) web-based revenue cycle management system. It converts paper-based EOBs into HIPAA standard 835s, eliminating manual processes. Providers can consolidate various paper/electronic remittances into one stream of data that optimizes revenue recovery, provides image and data archive capabilities, and increases control and visibility into healthcare transaction processes.
Original Press Release:
Concuity Announces the Availability of EOB PRO for Healthcare Providers
Concuity's EOB PRO Integrates EOB Conversion Capabilities into its Contract and Denials Management Software, ClearContracts(TM)
VERNON HILLS, Ill., and DUBLIN, Ireland, June 25 -- 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."
About Concuity
Concuity offers industry-leading solutions to increase hospital revenue by identifying and correcting payer non-compliance issues in the contract revenue cycle. Founded in 2000 by a group of healthcare industry visionaries and now a valued Division of Trintech, Concuity improves its customers' bottom lines by delivering technology and service solutions to create and negotiate better contracts, ensure accurate implementation and compliance, and collect what's owed. Clients include University of Utah Hospitals and Clinics, Salt Lake City, UT, Riverside Medical Center, Kankakee, IL and Providence Health System, Seattle, WA. Concuity is headquartered in Vernon Hills, Ill. For more information, call 847-465-6003 or visit http://concuity.com/.
About Trintech Group
Trintech Group Plc (NASDAQ:TTPA) is a leading global provider of financial software and services specializing in reconciliation workflow, revenue enhancement, transaction risk management, and compliance for commercial, financial, and healthcare markets. For over 20 years, Trintech has been providing comprehensive, industry-leading solutions to financial departments seeking greater insight into critical transaction processes. Trintech delivers a configurable, highly scalable platform that incorporates a company's unique business processes, enabling managers to obtain greater visibility and more efficiently manage business risk throughout the transaction lifecycle. Trintech's transaction process management solutions include: ReconNET for high volume transaction reconciliation; AssureNET GL for general ledger reconciliation and certification; On-Demand solutions for ASP ReconNET and AssureNET services and the Dataflow Transaction Network for data collection and delivery; and ClearContracts, an ASP service which enables health care providers to optimize contract profitability by reconciling payments received from their patients' insurers to amounts they should have received from claims under the terms of their respective contracts. Over 450 leading companies across a variety of industries rely on Trintech products and services. Clients include: North Fork Bank, 7-Eleven, Kroger, Regal Entertainment, Accor, UPMC, Farmer's Insurance Group, YUM! Brands Restaurants, Rohm and Haas, Verizon Wireless, and Ameren.
Trintech's principal business office is in Dallas, Texas, with international offices in Ireland, the United Kingdom and the Netherlands. Trintech can be reached at 15851 Dallas Parkway, Suite 900, Addison, TX 75001 (Tel 1.972.701.9802). Trintech's corporate office can be contacted at Trintech Technologies, Block C, Central Park, Leopardstown, Dublin 18, Ireland (Tel 353.1.293.9840). For more information, please visit http://www.trintech.com/.
