Regions Bank Launches Enhanced Treasury Management Services for Healthcare Clients
Regions Healthcare Receivables Services are the latest Treasury Management enhancements designed to help meet the needs of a growing healthcare industry.
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Regions is launching enhanced Treasury Management services designed to help healthcare clients automate, streamline and effectively manage the entire payments process.
Regions Healthcare Receivables Services are now powered by MediStreams, a healthcare revenue cycle management company that works with Regions to automate remittance processes and help clients speed up transaction reviews and processing for faster payment reconciliation. As more business clients turn to technology to automate accounting processes, these services are compatible with accounting systems across the marketplace.
“Regions delivers cutting-edge Treasury Management solutions that make banking with Regions a differentiator for our clients,” said
How does it work?
Regions Healthcare Receivables Services are specifically designed for major health systems, physician groups, clinics, labs, pharmacies and other healthcare organizations. Clients will continue to work with iTreasury, the bank’s treasury management platform, for deposit support. With MediStreams, clients can now incorporate patient healthcare data for more automated financial management. Key features include:
- Paper Explanation of Benefits (EOB) Conversion . This option allows clients to convert paper-based EOB statements for easier processing through Regions Lockbox Services. Regions receives the paper EOB and sends a file to MediStreams to convert to a digital format. Payments can post faster, employee time spent on manual entry is reduced, and it improves accuracy and quicker identification of denial claims.
- Faster Patient Payment Processing. This feature allows business clients to process patient payments in their operating system at the time of service. Within 24 hours, the payment is automatically posted to the accounts receivable software with the correct file format and payment confirmation.
- Electronic Remittance Advice (ERA) Processing. Data and images from remittance information are automatically and securely imported into existing accounting software.
- Reconciliation. This benefit helps reduce costs and save time with automatic reconciling of bank funds for real-time cash flow overview.
- Correspondence. Clients can easily view, categorize and work correspondence in the MediStreams web portal. Additionally, they can assign and route requests to specific users for required follow-up tasks and keep track of updates in real time.
“Regions Bank has an impeccable reputation for delivering high-quality, responsive customer service,” said
In addition to Regions Healthcare Receivables Services, the bank provides broader support to healthcare clients through its Healthcare Banking group. These skilled bankers bring deep industry knowledge, experience, insights and understanding to deliver a full range of capital solutions to meet client needs. Further,
“Regions is a recognized leader in serving the healthcare industry, and our work continues to grow as we enhance the client experience so our clients can focus more on patient care,” said
About
About
About MediStreams
MediStreams provides healthcare payment and remittance automation solutions that streamline complex payment processes. With industry-leading accuracy, real-time visibility, and rapid configurability, the MediStreams Cascade™ product suite turns manual processes into automated workflows that empower organizations to post and reconcile payments faster, more efficiently, and in a scalable, cost-effective way. Follow us on LinkedIn and learn more at www.MediStreams.com.
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