FIS provides CapStone Bank with healthcare remittance

"The healthcare industry is moving to electronic remittances due to regulatory forces and efforts by providers and payers to reduce costs"

FIS Healthcare Remittance Manager serves as a data bridge between insurers and medical providers, electronically capturing, reconciling and processing healthcare payment information. With Remittance Manager in place, health insurer and patient payments can be routed through a lockbox or captured locally by the provider and images forwarded to FIS. The data from the images captured is then lifted from the explanation of benefits or payment detail, matched with the original claim and a fully postable accounting file is provided to update the patient account. The result is fewer touch points within the receivables management cycle, a complete view into a patient's payment history and a standardized collection process across the organization.

For CapStone Bank, offering this payment solution to healthcare providers presents a way to automate their payment processes, while opening up new opportunities for additional revenue streams. FIS' Healthcare Remittance Manager allows healthcare providers to improve workflow, enhance reporting capabilities and significantly reduce administration costs that translate to a better bottom line.

"The healthcare industry is moving to electronic remittances due to regulatory forces and efforts by providers and payers to reduce costs," said Rex Scott, senior vice president and chief operations officer, CapStone Bank. "Healthcare providers of all sizes are looking for solutions to simplify the process so they can focus on providing healthcare rather than be encumbered with payment processing. Bringing efficiency, innovation and enhanced service levels to healthcare provider clients is a priority and we believe that partnering with FIS for electronic payments and remittance will help to support this objective."

"Offering FIS' Healthcare Remittance Manager provides CapStone Bank with the opportunity to better serve its healthcare provider clients who are in need of payment automation," said Frank D'Angelo, executive vice president, FIS Payment Solutions Group. "CapStone Bank will now have the ability to provide the healthcare payments sector with seamless access to payment related information needed to efficiently manage claims, reduce paper-based expenses and greatly improve the collection process."