Medical banking is a broad term that refers to using banking systems to improve health care. One area of focus is the revenue cycle. Today, the typical hospital receives payments from multiple health plans in multiple formats, primarily in the form of electronic remittance advices, paper explanations of benefit attached to checks, or automated clearinghouse transactions (electronic funds transfers) that are credited to the provider's bank account. MBProject promotes the use of a toolkit to determine ROI using a "medical banking inter-organizational system," a technical term denoting, in part, a specialized lockbox. The toolkit contains five work sheets that collectively assess operational impact to the organization. Many hospitals routinely use a lockbox for processing efficiency and risk mitigation.
measuring ROI of medical banking on the healthcare revenue cycle John Casillas Healthcare Financial Management; Apr 2009; 63, 4; Docstoc pg. 114 Reproduced with permissio
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