A faster, cost-effective process
CommerceHealthcare® medical lockbox service is designed specifically for healthcare providers. It offers scalability and improves efficiency by enhancing your revenue cycle process and optimizing your staff’s time.
Medical Lockbox Services
Medical lockbox services are essential for healthcare systems, hospitals and physician practices overloaded with slow, time-consuming paper-based payments. Lockbox services streamline your revenue cycle, reducing manual back-office insurance and patient payment posting processes and enhancing the claim-to-payment life cycle. Your hospital or practice will process payments faster, which also means you get paid sooner.
You also need a lockbox solution that meets your organization’s growing needs to reduce costs and improve quality of care. Medical lockbox service from CommerceHealthcare® is designed to deliver a simple cost-effective, compliant solution that speeds cash flow.
CommerceHealthcare® medical lockbox service is designed specifically for healthcare providers. It offers scalability and improves efficiency by enhancing your revenue cycle process and optimizing your staff’s time.
Key Benefits of a Medical Lockbox
Utilizes virtual posting workflows to improve remittance posting and correspondence follow up
Online access to seven years of images, data and audit trails to help facilitate compliance
Reduces risk of duplicate posting
Decreases internal processing costs while increasing cash flow
Mitigates potential risk of theft, fraud, or error
Medical Lockbox Services improves payment posting
How it works
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Incoming insurance and patient payments collected and deposited daily, eliminating a manual payment posting process for your staff.
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Your lockbox deposits are timed to meet critical check clearing deadlines.
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High-speed imaging technology captures images of payments and correspondence such as patient stubs and Explanation of Benefits (EOBs) from payers.
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Web-based portal with customized workflows, expediting follow-up and item resolution.
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Portal provides visibility of claim-to-payment life cycle with seven years of archived data.
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Searchable documents or image indexed files integrated with your medical billing platform or image software.
Empower Receivable Management Through Automation
Interested in learning how you can reduce costs associated with lockbox fees and manual paper payments? Discover how RemitConnect® can automate your entire remittance and payment reconciliation process, saving you time and money.Learn More
Enhanced lockbox services
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Customizable workflows for insurance and patient payment posting, denial management and correspondence processing.
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Search by payer name, patient ID number, date of service and other EOB information.
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Search, view and print lockbox batches.
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Reconciliation reports available to simplify balancing.
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Payment research through web-based portal.
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Robust audit tracking and noting capabilities.
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Prevent posting errors through automated control total for posting and transactions count.
Bringing healthcare and finance together
CommerceHealthcare® is committed to your organization’s success in healthcare’s increasingly challenging financial environment. The CommerceHealthcare® team consists of highly-experienced healthcare and finance professionals. Their goal is to collaborate with you to deliver customized healthcare financial solutions that meet the specific needs of your organization and patients.
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