Archive for July 2016

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Bank of America: Shrinking Workforce & Fewer Branch Locations

Bank of America has 23% fewer branches and 37% fewer workers than in 2009, the bank said in a recent presentation. Further, CNNMoney reports that they plan to cut another 8,000 jobs from their consumer business over time. Digital transactions are way less expensive and keep customers happy. In fact, BofA said it costs less than a tenth…

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Manual Denial Management – Survey Reveals Surprising Results

Would you believe 31% of all providers are still handling denied claims with completely manual processes? Imagine how difficult that is with EDI 835 remittance files coming in?  Even handling correspondence letters manually is outdated. According to a HIMSS Analytics survey, about a third of healthcare providers are still manually processing claim denials. “Given the complexities around submitting claims and…

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Software Unleashes the Potential of the ATM Channel

The days of the ATM as simple “cash-dispensing machines” are over. In order for banks to remain competitive, they have to tailor the ATM experience to client needs and the physical context in which the ATM exists. Also, the definition of an ATM is expanding into the realm of “kiosk”… In an interview with Aravinda…

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Higher Patient Costs Mean New Focus to Patient Payments

TransUnion Healthcare on Tuesday released a report showing patient deductibles and out-of-pocket costs both increased by 13% between 2014 and 2015. “It’s clear that patients are becoming the new payer – a major source for payments to hospitals at both the time of service and after procedures,” said Jonathan Wiik, principal for revenue cycle management…

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Identity Fraud: New Techniques Respond to New Technologies

Banks are facing bigger and bigger challenges to ensure new accounts are actually legitimate. Once fraudsters create an account under a false identity, it can be very difficult to stop before its too late. To make it more difficult, online applications and online account opening give fraudsters the upper hand in manipulating their identities. From the American…

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HFMA ANI Update: Orbograph Breaks Record for Demonstrations at a Show

The HFMA ANI conference in Las Vegas, Nevada concluded yesterday. The sessions and keynote presentations were well coordinated and integrated with the theme — “Out of the Box” — for the finance and revenue cycle groups within hospitals. The challenge of our healthcare revenue cycle and payment process is to understand how one can actually attain a level of…

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