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What is Vetriq?

Vetriq represents a cutting-edge solution designed to automate the revenue cycle processes within healthcare, particularly focusing on alleviating the burdensome manual tasks linked to payment posting, remittance processing, and financial reconciliation for healthcare providers. By optimizing the handling of Explanation of Benefits (EOB) documents, payer interactions, and bank lockbox transactions, it transforms incoming payment information into well-organized electronic records that can be easily incorporated into revenue cycle management systems. Instead of requiring a complete revamp of a healthcare facility's banking, lockbox services, or existing revenue cycle management infrastructure, Vetriq integrates effortlessly with current banking partners and practice management or EHR systems to enhance pre-existing workflows through automation. Its robust processing engine excels at converting paper EOBs into standardized electronic remittance formats such as 835, which significantly reduces the need for manual data entry and lightens the administrative burden. Ultimately, Vetriq not only boosts the efficiency and accuracy of financial operations for medical organizations but also allows them to preserve their established systems and collaborative relationships. This innovative approach helps healthcare providers focus more on patient care rather than being bogged down by administrative tasks.

What is POWEReob?

The act of processing insurance payments serves as a clear illustration of the 80/20 rule, where a small fraction of payments, often those stemming from traditional paper EOBs, can account for a disproportionate share—up to 80% or more—of the total workload. The advent of POWEReob revolutionizes this scenario by integrating free software with a pay-per-transaction structure, transforming the paper EOBs received from various payers into electronic remittance files that adhere to ANSI 835 or NSF standards. These digital files enable automatic posting of payments to your practice management system, simplify the billing of electronic secondary claims, and improve the management of denials. Notably, POWEReob is designed to work seamlessly with any practice management software that accepts remittance files from external sources, ensuring versatility beyond specific clearinghouse requirements. For those practices that may lack this compatibility, we are ready to partner with your current management system or clearinghouse to guarantee that you can benefit from fully electronic remittances. This approach ultimately enhances efficiency and minimizes labor costs associated with the payment posting process. By adopting this cutting-edge solution, practices not only improve their operational workflows but also free up valuable time to concentrate more on providing care to patients, effectively bridging the gap between administrative efficiency and health services.

Media

Media

Integrations Supported

Availity
Change Healthcare
NextGen
TriZetto
Waystar
XIFIN LIS
athenaOne
eClinicalWorks

Integrations Supported

API Availability

API Availability

Pricing Information

$22 per hour

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Standard Support
Web-Based Support

Training Options

Documentation Hub
Online Training

Training Options

Documentation Hub

Company Facts

Organization Name

Vetriq

Company Location

United States

Company Website

vetriq.com

Company Facts

Organization Name

Unicomp Corp. of America

Date Founded

1979

Company Location

United States

Company Website

www.ucoa.com/products-services/POWEReob/

Categories and Features

Categories and Features

Claims Processing

Not specified

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