A digital mailroom, as the name implies, is a solution for automating incoming mail. Many companies receive large volumes of paper mail. Some of the most common documents are invoices, but many businesses also receive large quantities of payment checks, claims, application forms, customer correspondence, etc. Those same documents may also arrive via fax or e-mail.
It’s a very labor-intensive and costly process to sort those documents and get them to the right people. Delays in processing incoming mail may cause poor customer service, delays in receiving payments, and lost revenue. Often, these documents are also business records and need to be retained for a specified period.
This incoming mail often contains information that must be captured and entered into business systems. Invoices must be reviewed and matched against packing slips and purchase orders to approve them for payment. Delays in processing can cause lost discounts and write-offs. There are many other examples of documents your company receives that have additional processes associated with them.
Workflow automation is a critical component of a Digital Mailroom. Current technology allows information to be “scraped” from paper documents to eliminate manual data entry. Workflow rules can also help track documents throughout a workflow and prevent materials from getting “stuck” somewhere in the process. Automatic notifications can be sent to a supervisor or manager if a document stops during the process for too long.
Once documents are processed, they can be automatically indexed and stored in an archive to meet retention requirements and facilitate future research.
While most payments from insurers arrive in an EFT file, many healthcare providers still receive significant paper checks and accompanying Explanation of Benefit (EOB) forms. Opening mail, depositing checks, and making manual updates to individual patient checks is labor-intensive and a drain on staff resources. Outsourcing the process allows payments to be deposited promptly, and the payment information in the EOBs can be converted to an industry-standard 835 EFT file so payments can be automatically posted to patient accounts. Automating this process reduces costs and frees staff to perform other revenue-generating activities to help increase revenue and profits.
How can iBridge support your mail processing? Contact us here!