The companies said the new service automates Explanation of Benefit (EOB) data capture and delivers it in an image file to enable healthcare providers to speed the process of remittance payments and cash applications.
It works by scanning checks and associated detail at the Bank of America Lockbox Operations, where images are created from the data. An image file of checks and documents is then transmitted to HealthLogic Systems (HLSC) where a HIPAA-compliant file is created and sent back to the client.
Clients can view lockbox images and payment detail on a web-based image archive for one year, and view 45 days worth of check and remittance images on Receipts Direct.
Clients may also view information reporting via Receipts Online and Bank of America will create CD ROMs to be delivered to the client.
Bank of America said it will offer three expanded data capture platforms – Patient-level capture, Patient Plus and Proprietary data capture.
The new service is currently being piloted with full rollout scheduled for July.
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