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Automating Remittance Processing and EFT Reconciliation Providers receive remittance information from an overwhelming amount of sources: clearinghouses, payer websites, payer-affiliated electronic payment vendors, lockboxes, and on paper. Even if received electronically, remittance files often contain non-standard data elements that require manual intervention and reorganization. This causes billing offices to spend countless hours manually posting remittance information and reconciling EFT payments with remittance files. Remit iQ aggregates, analyzes and organizes a provider’s remittance information to eliminate the need to search multiple sources for complete information. Our software reduces costs while streamlining business operations by: Leveraging the proprietary rules engines to reformat and translate payer-originated remittance files into data that is automatically posted to one (or multiple) health information system, regardless of required format. Creating a single, consolidated view of all remittan
