BBVA Compass' HCRS is a HIPAA complaint, Web-based service that provides full revenue cycle management that includes the conversion of paper explanation of benefits (EOBs) to an ANSI X12 835 electronic file, consolidates electronic remittance advice (ERA), matches payments with remittance details, and provides an online archive. This service will help you decrease revenue cycle days, increase total dollars collected, and reduce the costs of back-office operations while increasing customer service.
- EOB & ERA Processing – reconciles the payment, claim and remittance and provides a user-definable 835 posting file to upload directly to your patient management system.
- Online Portal and Archive Research – allows your customer service associates online access to images of claims, remittances, and payments with a single view to resolve payment questions as well as offers reporting and exception processing. In addition, it provides the ability to download information into Microsoft Word, Excel, or a CSV file for further processing.
Revenue Cycle Management
- Secondary Billing (Paper or Electronic)
- Denial Management
- Adjustment & Denial Code Standardization
- Self Pay/Patient Pay
- Shorten revenue cycle days outstanding by receiving the payment and remittance information earlier in the revenue cycle process.
- Increase your collections by identifying secondary and tertiary billing opportunities without having to work off paper remittances and claims.
- Improve your billing accuracy and automate receivables posting with the consolidated X12 835 electronic file.
- Significantly reduce your back office processing costs. By automating your receivables process, you can free up your existing staff to concentrate on more revenue generating opportunities.
- Reduce paper and storage costs. Since the system provides a Web-based archive of claims, ERAs, EOBs, correspondence, and payments, there is no need to store the paper documents in your office or at an off site storage facility.