EOB Conversion vs ArcoInvoice

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Paper EOBs and checks are typically sent to a provider’s lockbox for the check to be deposited. Paper EOBs come in varying formats and are problematic for the billing teams to accurately post to the proper patient accounts. Often, this is a manual data entry process. With MediStreams’ EOB conversion service, we receive EOBs and check images from the provider’s lockbox. The service converts the EOB images to an ANSI 835 output file, configured to auto-post to the provider’s billing software. The files are delivered within 24 hours, with a 96% accuracy rate. The MediStreams’ web portal provides for easy identification and management of denials, and information for secondary billing.

About MediStreams:

MediStreams transforms manual, inefficient processes into automated workflows to reduce the time and cost of getting paid.

Product Description:

ArcoInvoice helps to automate the process of your (supplier) invoices. Whether you receive invoices via paper, e-mail or EDI, we extract the data into our platform and connect to your existing ecosystem such as your CRM, DMS and ERP software package. We use your internal business rules and customize your workflows (GL codes, cost centers, approval flows) to avoid manual errors, in a fully legally compliant and auditable way.

About Arco Info Inc.:

At ArcoInfo, we believe that people should be freed of repetitive, manual tasks to add more value to their organization by leveraging technology without adding additional IT resources.

Our proprietarry "as a Service"-platform in the cloud can act as an end to end solution, but also as a middleware to integrate your current software ecosystem through our open API.

Compatibility level

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Clients

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Use Cases

Description:

Digitize and index all paper arriving at your lockbox/physical location (EOBs, physical checks, correspondence). Convert to auto-postable ERAs.

Pediatric use cases:

Anyone who submits claims can benefit from our services - The removal of manual, legacy processes for data lift/posting of paper items as well as removal of various spreadsheets and suspense accounts for reconciliation purposes helps any provider save time and money.

Users:

Cash Posting, Finance, Accounting, Revenue Cycle, Patient Financial Services

Description:

We created an end-to-end solution to import, register, approve and archive complete purchase invoices and credit memos directly into your ERP software system.

Features:

Document capture (paper, attachment, EDI)

Approval Flows

GL codes / Cost Centers

3-way matching

and more...

Pediatric use cases:

None provided

Users:

Account Payables (AP) Department, Procurement Departments, Finance Department

Chief Finance Officer, Chief Procurement Officer

Director AP, VP of Finance

EHR Integrations

Integrations:

Acute care EMR, Ambulatory EMR, Ancillary EMR, ERP system, Access +/or revenue cycle

EMR Integration & Relevant Hardware:

None provided

EMRs Supported:

Epic, Cerner, Meditech, Allscripts, NextGen, athena, GE, eClinicalWorks, McKesson, Other, Allscripts/Eclipsys, Athenahealth, Azalea Health/Prognosis, CPSI, Evident, Healthland, MEDHOST, MedWorx, QuadraMed, Self-developed, Point Click Care

Hardware Compatibility:

None provided

Integrations:

ERP system, Other

EMR Integration & Relevant Hardware:

Use case dependent

EMRs Supported:

Not applicable

Hardware Compatibility:

Desktop, Mobile / Tablet (web optimized), Other

Client Types

None provided

Pediatric Hospitals

Academic Medical Centers

Accountable Care Organizations

Small Medical Facilities

Extra Small Medical Facilities

Medium Medical Facilities

Extra Large Medical Facilities

Differentiators

Differentiators vs EHR Functionality:

None provided

Differentiators vs Competitors:

Support, Turnaround Time, Quality Assurance, Accuracy

Differentiators vs EHR Functionality:

Easy set-up & implementation (6-8 weeks depending on complexity)

Transaction based model (by # of invoices)

Additional (human) validation to ensure accuracy of 99.7%

Differentiators vs Competitors:

Multichannel (paper, attachment and EDI)

Multilingual

Transaction model (pay per invoice)

Keywords

EOB,PDF,lockbox,paper,paperless,conversion,835,ERA

accounts payable automation,invoicing,paperless,e-invoicing,approval flow

Images

No images provided

1 of 1

ArcoInvoice.jpg

Videos

1 of 1

MediStreams Overview.mp4

No videos provided

Downloads

MediStreams - EOB Conversion Brochure.pdf

2021 Healthcare ArcoInvoice.pdf

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Company Details

By MediStreams

By Arco Info Inc.

Founded in 1993

Visit Website

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