Anatomy, a platform to automate financial operations for healthcare, announced the launch of its modern AI Healthcare Lockbox. The Anatomy Healthcare Lockbox is purpose built for healthcare organizations, automating check digitization and converting Explanation of Benefits (EOBs) into standardized 835 electronic remittance advice documents.
Healthcare organizations today receive 27% of insurance payments manually and the percentage of manual payments is actually increasing, up from 24% 3 years ago1. This creates a big issue for groups that need to manually type remittances into practice management systems and cash checks, not only in labor required but also delayed cash flow. The Anatomy Healthcare Lockbox leverages a strategic partnership with CheckAlt, a recognized leader in technology-enabled lockbox solutions. This collaboration brings together Anatomy’s AI-based EOB to 835 conversion and automated reconciliation with CheckAlt’s expertise in efficient check processing and HIPAA secure facilities.
Colleen Kinlund, COO at Vail Summit Orthopaedics and Neurosurgery shared her experiences with paper processes. “The paper mail is a pain to manage, and I was thrilled when I first heard about the Anatomy lockbox that converts EOBs to 835s. With the issues at Change Healthcare, there is an even bigger need to digitize paper remittances across the healthcare industry. We are excited to automate these processes and accelerate our cash flow, so we can focus on delivering exceptional care to our patients.”
“We are thrilled to partner with CheckAlt to deliver this transformative lockbox solution to the healthcare industry,” said Sasha King, Co-CEO of Anatomy. “In healthcare, a quarter of insurance payments to providers are on paper checks. With an AI-powered lockbox, we can enable full digitization of financial workflows for healthcare organizations. We were looking for a technology forward lockbox partner who is continuing to invest in their lockbox technology, and CheckAlt’s technology platform and customer centricity are best in class.”
Shai Stern, CEO of CheckAlt, added, “We are excited to join forces with Anatomy to provide a modern lockbox solution specifically tailored to the needs of healthcare. Our customers have been asking for EOB conversion for some time and finally, Anatomy can solve that pain point. Our combined expertise will ensure a seamless and secure experience for healthcare providers.”
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