MediStreams automates the posting and reconciliation of healthcare payments by converting both electronic and paper remittances into standardized 835/ERA files that integrate directly with providers' practice management systems. This process reduces manual errors and accelerates payment cycles, significantly lowering overhead costs for healthcare providers.
Funding
Funding not disclosed
Founders
Product
Problem
Healthcare providers face challenges in efficiently processing and reconciling payments due to the variety of formats in which remittances are received, including both electronic and paper-based explanations of benefits (EOBs). Manual processing of these payments is time-consuming, prone to errors, and increases administrative overhead. The complexity of integrating these payments with existing practice management systems further exacerbates these issues.
Solution
MediStreams offers a solution that automates healthcare payment posting and reconciliation by converting electronic and paper remittances into standardized 835/ERA files. This enables direct integration with providers' practice management systems, streamlining the payment processing workflow. By automating these processes, MediStreams reduces manual errors, accelerates payment cycles, and lowers overhead costs for healthcare providers. The platform's proprietary rules and logic, combined with a library of configurable integrations, ensure accurate capture and reconciliation of all payments, regardless of format.
Target Audience
MediStreams primarily serves healthcare providers and organizations within the healthcare RCM space looking to automate and streamline their payment processing and reconciliation workflows.
Features
- Converts paper EOBs into 835/ERA files for automated posting.
- Processes both electronic and paper remittances.
- Integrates with existing banks, clearinghouses, and practice management software through a library of 500+ configurable integrations.
- Automates payment posting and reconciliation processes.
- Manages and accurately captures all payments using proprietary rules and logic.
- Provides a rapid EOB solution for converting PDF EOBs retrieved from payer portals into 835/ERA files.