The new services, announced Monday (Oct. 20), are designed to help those clients automate, streamline and manage their entire payments process.
According to a news release, the bank’s Healthcare Receivables Services are now powered by MediStreams, a healthcare revenue cycle management provider that works with Regions to automate remittance processes and help clients speed transaction reviews and processing.
“As more business clients turn to technology to automate accounting processes, these services are compatible with accounting systems across the marketplace,” the release said.
“Regions Healthcare Receivables Services are specifically designed for major health systems, physician groups, clinics, labs, pharmacies and other healthcare organizations.
Customers will continue to work with iTreasury, the bank’s treasury management platform, for deposit support. MediStreams lets those clients incorporate patient healthcare data for more automated financial management, the release added.
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Features include the ability for clients to convert paper-based explanation of benefits statements for easier processing through Regions Lockbox Services, along with faster patient payment processing and electronic remittance advice (ERA) processing.
“Regions is a recognized leader in serving the healthcare industry, and our work continues to grow as we enhance the client experience so our clients can focus more on patient care,” said Mark Hardison, head of Regions’ Healthcare Banking group.
“Our bankers help clients manage the challenges and opportunities in healthcare with personalized insights and resources tailored to their needs. We are proud to support the operational missions of our healthcare clients who are making an incredible impact in the lives of patients.”
Elsewhere in the world of treasury management, PYMNTS wrote recently about the way treasury is rapidly turning into “the nerve center of finance” with decisions that shape liquidity as well as enterprise risk appetite, growth strategy, and digital transformation.
“Behind this shift are the three foundational pillars of AI, cyber defense and payments optimization,” that report said.
“The momentum behind each represents a profound reshaping of treasury’s responsibilities and capabilities, especially in an operating landscape where risk and uncertainty are rippling faster than ever through balance sheets and forecasts.”
Put together, these technologies and marketplace realities are transforming the finance function from a back-office utility to a strategic hub whose decisions guide enterprise risk appetite, digital transformation, and growth strategy.
“And treasury’s transformation is not abstract,” PYMNTS added. “It’s happening so fast that many large firms are suffering whiplash, particularly as their institutional inertia meets the need for machine-speed cash management.”
