VARO designs your letter/statement which includes identifying the information necessary for posting payments in your system. A personal PO Box is set up specifically for your organization where patients send checks. Checks are then processed and a cash image letter is sent directly to your bank on a daily basis. Payment files are sent electronically through an SFTP site daily so transactions can be uploaded/updated to the patient’s account. VARO also sends a daily reconciliation between the bank deposit(s) and the payment files. In order for this to be achieved, the Client must initiate contact with their bank and provide VARO with an introduction to the bank to set up the cash image letter. From there, we can proceed with the remainder of set-up and testing of files directly with the Client’s bank.
Provider Type: Medical Device Company
Problem: A Medical Device Company was entering a growth pattern and lacked the necessary infrastructure to manage self pay collections and self pay customer services.
Solution: VARO developed a comprehensive sourcing solution that included BPO services such as self-pay customer service, accounts receivable collections, insurance found strategies, lockbox services, and bad debt collections.
Results: VARO developed and implemented a customized self pay revenue cycle solution that: