ATLANTA, Nov. 13, 2013 /PRNewswire/ – SunTrust Banks, Inc. (NYSE: STI) today announced the introduction of eClaim Revenue Gateway (eClaim), a healthcare receivables solution for medical providers, clinics and hospitals of all sizes. eClaim is a secure online service for reconciling healthcare claims data with payment information, helping to streamline the receivables process and shorten the revenue cycle.
“Healthcare providers are well aware of the advantages of payment automation and reconciliation, including improved overall efficiency in payments and claims processing,” said Eric Brewer, executive vice president of Treasury & Payment Solutions at SunTrust. “Our solution, eClaim Revenue Gateway, assists healthcare providers in optimizing their revenue cycle management and addresses key pain points for healthcare providers by offering a practical solution to automate receivables and reconciliation processes.”
eClaim converts Explanation of Benefits (EOBs) documents into electronic images, and captures and merges EOBs, Electronic Remittance Advices (ERAs) and patient payment data into a fully customized electronic posting file for claims re-association, research, and reporting, eliminating the need for data entry.
Configurable business rules help increase accuracy rates so providers are able to accelerate processing and improve workflow.
Additional benefits available with eClaim include enhanced reporting capability, a ten-year archive, and fast retrieval of remittance information.
SunTrust has partnered with MediStreams, LLC, a Georgia based technology company, to provide the solution to its clients.
Aaron Grandison, president of MediStreams, said, “The eClaim Revenue Gateway remittance automation solution substantially increases efficiencies for providers allowing them to refocus resources on critical aspects of healthcare delivery.”
About SunTrust Banks, Inc.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation’s largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2013, SunTrust had total assets of $171.8 billion and total deposits of $128.9 billion. Through its flagship subsidiary, SunTrust Bank, the company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic States and a full array of technology-based, 24-hour delivery channels. The company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through its various subsidiaries, the company provides mortgage banking, asset management, securities brokerage, and capital market services. SunTrust’s Internet address is suntrust.com.
MediStreams is a Medical Banking and Healthcare Revenue Cycle Management company that focuses on the automation of the healthcare remittance process. If you would like to learn more about MediStreams, please visit the MediStreams website at www.medistreams.com.
SOURCE SunTrust Banks, Inc.