Rectangle Health has announced a collaboration with ECHO Health, a company focused on removing complexity, costs, and fraud risk from payments processing.
Rectangle Health is collaborating with over 40,000 providers. Its Practice Management Bridge platform optimises operations, communication, and payments with solutions like PayerSync, increasing productivity while improving patient experiences across healthcare sectors.
This collaboration provides healthcare organisations with access to automated claims payment processing, Explanations of Payments (EOPs), and posting through the industry's extensive digital payment network.
Transforming the reimbursement process
Rectangle Health's PayerSync solution transforms the payer reimbursement process by speeding up the revenue cycle for healthcare providers. It offers transparency into payer payments while minimising security and compliance risks through digitisation, encryption, and automation. With the integration of ECHO, PayerSync users now benefit from increased payment and remittance access to over 450 payers, ensuring reach and efficiency at the practice level.
Addressing delays in reimbursements
Current industry data from a Health Affairs Scholar study reveals that healthcare providers often face a four- to six-week waiting period to receive and process payer reimbursements. PayerSync addresses this issue by streamlining the process through the automation of ECHO payments and EOPs, integrating them directly into the healthcare organisation’s Practice Management System (PMS) or Electronic Health Record (EHR).
Customers have reported that payments are processed approximately 50% faster. Payer cycles are shortened by an average of 12 days or more. More efficient workflows save about 20 staff hours each month per location.
Secure and compliant automation
PayerSync automates ECHO payments via encrypted API connections, ensuring secure and compliant deposits directly into the provider’s bank account. This automation eliminates manual card entries and decreases errors. Throughout this process, EOPs are standardised into a unified format that includes remark codes. Ultimately, claims remittance can be reviewed and posted directly to patient accounts within the PMS or EHR.
