OKLAHOMA CITY, Okla., Oct. 9, 2012 /PRNewswire/ -- Revenue Management Solutions, LLC (RMS), announced today a partnership with North Carolina-headquartered First Citizens Bank that will provide an automated payment and remittance processing service for the bank's healthcare provider clients.
This service helps healthcare organizations manage all their paper and electronic remittance transactions by consolidating them in a single data stream. Payments and remittance information sent as paper, such as explanation of benefits (EOBs), checks and electronic payments, are converted into one standardized electronic format, which helps reduce costs and improve efficiencies for healthcare providers. This service is offered to the bank's healthcare clients through First Citizens' Business and Treasury Services department.
"First Citizens is a leading provider of financial services to the healthcare industry," said Richard Smith, manager of product development for Treasury Services at First Citizens. "A large number of clients still receive paper EOBs, which slows down their collection efforts. We are partnering with RMS to provide an electronic solution that will help healthcare providers save time and money. We look forward to working with RMS to provide our customers with this innovative technology."
The First Citizens and RMS partnership offers customers Electronic Data Interchange (EDI) reconciled and balanced in a HIPAA-compliant industry file format (EDI 835) to post into their practice management software.
"We are very excited to work with First Citizens Bank in delivering a total remittance solution to their healthcare clients. We believe their customers will greatly appreciate the savings and efficiencies afforded to them as a result of this partnership," Scott Thomas, CEO of RMS, said.
Revenue Management Solutions (RMS), headquartered in Oklahoma City, OK, leads the industry in delivering remittance-related transactions to healthcare providers. Since its founding in 2006, RMS has focused on increasing automation and providing a superior service to the healthcare market.
By partnering with banks, RMS has closed the loop on the payment side of the healthcare revenue cycle.
For more information please call 1-405-463-6000 or visit our website at www.revmansolutions.com.
About First Citizens Bank
Founded in 1898, First Citizens Bank serves clients at more than 400 offices in 17 states and the District of Columbia. The bank is a major subsidiary of First Citizens BancShares Inc. (Nasdaq: FCNCA), which has $21 billion in assets. Forbes named BancShares the ninth-best bank in the nation in its 2012 Best Banks in America list.
Headquartered in Raleigh, N.C., First Citizens has received multiple national awards for customer satisfaction and overall stability and security, including a five-star superior ranking by independent banking rating firm BauerFinancial Inc. of Coral Gables, Fla. (Bauerfinancial.com), and Greenwich Excellence awards for business banking services. First Citizens was recently named one of the 10 Best Banks in America by Money magazine and received a second-place ranking in the Southeast Region in J.D. Power and Associates' 2012 U.S. Retail Banking Satisfaction Study. For more information about First Citizens Bank, call toll free 1-888-FC DIRECT (1-888-323-4732) or visit firstcitizens.com.
SOURCE Revenue Management Solutions, LLC