BMO Capital Markets has partnered with HealthLogic Systems Corp. to launch DirectLine – Healthcare Remittance.

This Web-based platform, designed for BMO’s healthcare clients, simplifies accounts receivable by transforming how healthcare providers process insurance payments and claims. Traditionally paper-intensive documents such as paper checks, explanations of benefits and electronic payments now can be collected in a single system for faster reporting and reconciliation. It makes the cash application cycle more efficient by reducing the number of days to post manual entries, decreasing exception processing and simplifying reimbursement functions such as check reconciliation and claims follow up.

“Our healthcare clients are looking to reduce costs and make their processes more efficient. We’ve met these needs by providing a solution that both decreases capital float exposure and reduces payment cycle time,” said Jim Love, managing director and head, Healthcare Group, BMO Capital Markets.

“Leveraging our deep understanding of the challenges facing the healthcare industry today, and through our partnership with HealthLogic Systems, we are offering the best of breed solution designed to increase cash availability for our healthcare clients,” added Marnie Kinsley, executive managing director and head, Global Cash Management Services.

BMO Capital Markets introduced the new offering during the Healthcare Financial Management Association’s annual conference in San Diego today.