The Importance of Lockbox and Bank Access for Payment Posting at Experity 

Elyce Braun, RCM Operations Manager, Experity

At Experity, we know that efficient payment posting is key to maintaining a healthy revenue cycle. Lockbox services and bank access play a crucial role in streamlining this process, offering benefits in speed, accuracy, and efficiency for our clients. 

What is a Lockbox? 

A lockbox is a secure bank service where patient payments (typically checks) are sent and processed. Payments are deposited directly into your account with remittance information for accurate posting to patient accounts, reducing manual work. 

Why Lockbox Services Matter for Experity Clients 

1. Faster Processing: Lockboxes speed up payment deposits, improving cash flow by reducing delays from manual handling. 
2. Accuracy: Automated processing minimizes human error, ensuring payments are applied correctly to accounts. 
3. Reduced Workload: Outsourcing payment processing allows your team to focus on more strategic tasks, such as follow-ups on outstanding balances. 
4. Security: Payments processed by the bank reduce the risk of fraud and ensure compliance with regulations. 

The Role of Bank Access at Experity 

1. Real-Time Monitoring: Bank access allows you to track payments as they’re deposited, ensuring faster updates and immediate action on discrepancies. 
2. Simplified Reconciliation: Instant access to transaction details speeds up reconciliation and ensures accurate account tracking. 
3. Improved Cash Flow: Real-time payment visibility enables better forecasting and financial management. 
4. RCM Integration: Bank access integrates with Experity’s systems, automating payment posting and improving efficiency. 

Conclusion 

Lockbox services and bank access are vital tools for optimizing payment posting. By using these services, Experity clients can enhance cash flow, improve accuracy, reduce manual work, and protect sensitive data—ultimately ensuring a stronger, more efficient revenue cycle.