In today’s healthcare environment, billions of transactions are exchanged every month through a complex network. Duplication is rampant and costly; many transactions are “touched” by two to three intermediaries before they are processed and paid. The national cost is staggering and the operational dynamics are profoundly inefficient.
HERAE specializes in a new generation of financial solutions for the healthcare industry. HERAE’s information exchange platform provides a HIPAA-compliant payment system that processes electronic remittances (835 transactions), explanation of benefits (EOBs) and electronic funds transfers (EFTs) from health insurers to healthcare providers electronically. Implementing the HERAE system improves collections, maximizes your time, reduces the chance for fraud, and dramatically improves billing-to-deposit time.
Working directly with its banking partners, as an extension of their lockbox services, HERAE transforms all healthcare financial transaction into a single digital stream. Electronic remittances (835 files) are retrieved from all major payers directly and paper EOBs are transformed into electronic 835 formats to enable truly paperless processing.

Key functions include:

standardized, virtual EOBs denial and exception processing secondary billing funds tracking and reconciliation

recovery of lost revenue appeals and re-billing functions configurable workflow and routing load balancing and much more

The HERAE model increases efficiency by minimizing paper claim handling and decreasing the time for EFTs. By enabling rich, real-time electronic exchange with payers, providers and other key partners, we can accelerate payments and lower transaction costs. This approach will become the next generation of exchange solutions delivering new levels of speed, accuracy, and efficiency to the entire healthcare industry, resulting in more timely payments and higher revenues.