ZirMed is focused on providing solutions that automate and benefit its customers’
revenue cycle. Our suite of revenue cycle management solutions includes traditional healthcare
transactions such as eligibility verification, claims management, electronic remittance advice and
patient statements, along with financial services transactions such as credit/debit card processing,
check processing, cash drawer, e-commerce capabilities and lockbox services. ZirMed Financial
Services solutions are designed to enhance collections with a focus on internal controls.
Practices are able to quickly and easily adopt industry best practices because we provide the
necessary tools with an eye toward complementing traditional healthcare provider workflow.
The six distinct facets of ZirMed Financial Services are discussed in further detail below.
Check Processing
ZirMed’s check processing function allows providers to convert patients’ check payments into
ACH transactions for immediate funds verification and electronically deposits funds into the
provider’s bank account. This Solution reduces inefficiencies by streamlining payment processes
and eliminating unnecessary trips to the bank. Check Processing is built to support both front-office
(point-of-service) and back office (accounts receivable conversion) applications. ZirMed archives
the transaction details and makes them available on demand via our secure website.
Cash Drawer
ZirMed ensures the highest level of internal control over cash collections. Cash Drawer generates
a printable electronic receipt for all cash payments, money orders and even paper checks and posts
the transaction details on the ZirMed website for end of day balancing. In addition to displaying
the patient name, account number, payment amount and time stamp of payment, ZirMed’s online reporting
allows providers to view payments accepted by user thus making it easier than ever to ensure that all
payments received are reflected in the cash register totals.
Credit Card Processing
ZirMed affords you an exciting new option for collecting credit and debit card payments. Replace
the dedicated credit card phone lines and expensive POS terminals with inexpensive card swipe readers
that easily install to any computer connected to the Internet. ZirMed’s Solution determines payment
acceptance or failure in seconds and generates a customizable receipt.
In addition to collecting credit and debit card payments in the office, ZirMed allows you to process
such payments over the telephone. Traditional point-of-sale devices are not designed to facilitate
this real world scenario, and adjusting workflow to manually enter information into shared terminals
disrupts business and increases administrative costs. ZirMed’s Solution accepts a cardholder’s
information and processes the transaction from the computer with the patient on the phone, thereby
reducing key entry errors and providing real-time responses.
Payment Plans
ZirMed released a payment plan solution based on both customer feedback and patient payment data.
Payment Plans allow providers to cater to the financial needs of the uninsured, underinsured and
high-deductible patients. Rather than presenting these patients with an overwhelming statement
balance, the provider can now determine manageable installments and schedule automatic withdrawals
from the patient’s credit or debit card. In the coming months, patients will also have the option
of arranging automatic withdrawals from their checking account. After the provider and patient
agree upon the amount and frequency of each payment, ZirMed will process the transactions at the
designated time intervals until the patient’s account has a zero balance.
E-Commerce
ZirMed’s E-Commerce application provides patients the convenient option of paying their
statements online with a credit card, debit card, and in the near future, a check. ZirMed
hosts a separate, secure website which is customized and branded to look and feel like the
provider’s website, even if the provider doesn’t have an independent web presence. The
statement invites the patient to pay his or her medical bill online at the provider’s E-Commerce portal. Once the transaction processes, ZirMed generates a receipt that the patient can view, email or print as desired. These and all other payment transactions can be viewed and reported from ZirMed’s private web site.
LockBox
ZirMed’s newest addition to its suite of financial services, LockBox, gives practices the
option of using an integrated retail lockbox at a cost in line with the sensitive nature of
healthcare providers. Patients can now send their statement coupons and checks to a PO Box
where our LockBox service processes the payments, deposits the funds directly into the
provider’s bank account and uploads the transaction details and check images to the ZirMed
website. LockBox eliminates both the potential for employee theft and the “desktop float”
that occurs when patient payments sit unprocessed for days at a time.
