Medical Lockbox Solution Overview
Hospitals, healthcare networks, and physician’s offices must deal with a wide variety of payers and payment types, making payment processing operations inconvenient and complex.
Exela’s Medical Lockbox streamlines the healthcare payment process through digitization and automation. By centralizing all incoming receivables through Medical Lockbox, you can speed up the revenue cycle, increase accuracy to avoid errors, bad debt, and write-offs, and enjoy greater liquidity.
Exela’s Medical Lockbox solution is designed to address your organization’s unique needs, helping you ensure compliance, reduce costs, and improve quality of care.
4,000
Top US Insurance Company
25
Health Plans
18,000
Providers
Convergent Payment Processing
Same day reconciliation on ERAs, ACH, checks, debit transactions, IRDs, credit card payments, and EOB statements. Payments from all sources are converted into 835 electronic remittance files for direct posting.
Insight and Analysis for Improved Operations
Turn data into actionable information. Identify problems, improve processes, and prepare for negotiations.
Integrated Denials management
Exela’s Medical Lockbox seamlessly integrates with our Denials Management tool to improve accuracy and optimize reimbursement.
Save Time by Automating Processes
Optimize repetitive tasks for a more accurate and streamlined process by automating reassociation of ERA/EOB to ACH/check, applying payer-specific business rules to reduce rejects, auto-posting EOBs, and eliminating manual keying.