Complete Payment Automation
Electronic Dental Services Payment Automation -- Bank Lock Box
Receive, process and post 100% of third-party payments electronically with EDS Payment Automation. Payment Automation virtually eliminates the manual steps associated with processing, reconciling and posting third-party payments. Instead of staff wasting time sorting mail, matching both paper and Electronic Remittance Advice (ERA) to expected payment, posting third-party payments, creating deposit tickets or making trips to the bank, EDS� unique and innovative technology enables complete automation of these tasks.
Streamlining the third-party payment process is accomplished through EDS providing automated processing of all paper and electronic Remittance Advice, including payer direct 835�s and EDS generated 835�s, as well as comprehensive paper to 835 conversion and corresponding 835 normalization. In addition, for physical mail handling, providers can continue use of their existing bank lockbox or elect to use EDS� third party lockbox. Either way, all payment and remittance management tools can be consolidated and automated through one partner. Standard reports via EDS Payment Manager provide a centralized location to obtain details on all payments including the amounts and payer specific information so the reconciliation processes simplified. The end result is a streamlined payment posting and reconciliation system that eliminates all paper and automatically deposits payments into any bank account.
- Automated receiving, processing and posting of all third party payments
- Electronic deposit of claims payments to any bank account
- Standard reports through EDS Payment Manager
- Accelerated cash flow
- Reduced errors
- Increased efficiencies
- Simplified reconciliation