Learn About the BB&T Medical Data Lockbox
Learn about the BB&T Medical Data Lockbox
[MUSIC PLAYING] You're in the health care industry. And while most of the payments you receive are electronic, you still receive paper EOBs and checks. What if you could use BB&T Lockbox Services to not just simplify your incoming receivables processes, but to also generate medical data that supports your overarching business objectives?
Now you can. Introducing Medical Data Lockbox from BB&T. We've taken our standard lockbox services and enhanced its capabilities to better suit the needs of our health care clients. The Medical Data Lockbox uses a secure HIPAA-compliant portal where you can view all data received, view uploaded claims files, and download and view posting files. And this service doesn't just scan documents into a digital file for you. It actually reads the documents and lifts the important data from it, including correspondence, turning every document into a searchable information source. Let's see how this smart business tool can benefit your company.
The Medical Data Lockbox can help you automate a variety of payments to minimize time consuming manual reconciliation and reduce manual keying errors. We can automate paper payments such as paper checks with or without paper EOB, ACH payments with paper EOB, ACH payments with an ERA, and correspondence. With our Medical Data Lockbox, we make finding the information you need easy. This level of visibility increases your efficiency, freeing your associates to focus on other tasks. This improved visibility includes a way to generate the original EOB and a clean, standardized digital EOB at the patient level. Enable providers to produce and view tracking, as well as audit reports, and make all non-payment images accessible.
The Medical Data Lockbox is designed to integrate with your practice management system. This level of integration includes accepting your EDI 837 claims file for comparing, matching, and reconciling to payment, producing a post-ready EDI 835 file to import into your management system, and the ability to produce posting files for patient payments, insurance payments, or both. BB&T's Medical Data Lockbox consolidates the entire payment process into a smart healthcare solution. Here's how it works.
You or your clearinghouse simply submits a copy of all open claims files to the Medical Data Lockbox's data repository in an EDI 837 format. The paper payments received from patients and insurance are remitted to and processed through your BB&T Lockbox. Not only are the images of the correspondence searchable, data lifted from the correspondence are also indexed, retained, and searchable. Once the Medical Data Lockbox has received all the necessary information, key elements will be matched and reconciled to outstanding claims files. Finally this service prepares a HIPAA-compliant EDI 835 file for posting to your accounting system.
Our Medical Data Lockbox has simplified the healthcare payment process through automation, visibility, and integration. Let's get started today. Medical Data Lockbox, from BB&T.
The information provided is not intended to be legal, tax, or financial advice. BB&T hopes you find this information useful but we cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided to assist you in estimating the approximate costs associated with any bank activity. Your actual costs may vary. You should consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.
Branch Banking and Trust Company, Member FDIC.
New York City residents: Translation or other language access services may be available. When calling our office regarding collection activity, if you speak a language other than English and need verbal translation services, be sure to inform the representative. A description and translation of commonly-used debt collection terms is available in multiple languages at www.nyc.gov/dca.
Branch Banking and Trust Company is now Truist Bank. Learn more.
BB&T and SunTrust have merged to become Truist. Both institutions will continue to offer independent product lines for a period of time. This may include differing underwriting guidelines, product features, terms, fees and pricing. Our friendly teammates at your local SunTrust branches will be happy to walk you through their respective products. You can also learn more by contacting them at 800-SUNTRUST or SunTrust.com.