A mental health clinic out of Baltimore, MD, recently experienced a situation altogether too common for healthcare providers. The clinic works with troubled teens and receives weekly payments from a government payer. With reimbursements arriving weeks after the date of service, this customer has been utilizing a Remit eXL working capital solution from Provider Web Capital to manage their day-to-day operating expenses.
However the clinic was hit with an unexpected change by their payroll company that left them short of funds. They typically receive reimbursements from the government payer on Thursday of each week, but their payroll date was moved to Wednesdays. This left the business “a day” late and more than a few “dollars short” each week.
Enter Provider Web Capital with its innovative Remit ATM product. The Remit ATM patent-pending technology allowed our client to submit the 835 Health Care Claim Payment form to Provider Web each Wednesday, and they then received advance payment on those claims the very same day. This solution allowed our client access to the money owed to them for services rendered and got them the funds they needed for payroll each Wednesday. The client pays a small convenience fee for accessing these funds one business day early.
Provider Web’s sole focus with our new Remit ATM product is to help our health care providers overcome the cash flow challenges created from reimbursement delays by allowing them access to the money they need right when they need it. Remit ATM is as easy as taking a withdrawal from the ATM machine.
Call Provider Web Capital at 855-860-9700 to speak with a Senior Business Consultant and learn more about this innovative solution. You can also visit us online at www.providerwebcapital.com