Don’t Dread the Shred (Part #2): Managing the Paper of Remote Deposit Capture (RDC)

November 7, 2012 / 0 Comments

In our blog post on September 4, 2012, we talked about several risk factors for merchants, banks and mobile RDC users. One of the key points of recent interest was the process of managing deposited checks for a period of time before they are destroyed or shredded; or as defined in the FFIEC guidelines, “appropriate technology and process controls should be implemented at both the financial institution and the customer’s location to address operational risk.”

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Cutting Waste from Skyrocketing Healthcare Costs

October 30, 2012 / 0 Comments

Healthcare costs are increasing at a rate of 5-6% annually. As an industry expands, normal cost increases can be absorbed year after year, but healthcare is an inefficient and politically charged animal. In this political season, government officials proclaim gains in waste reduction, but it’s hard to determine what impact fraud and waste has on the overall system. Unfortunately, the numbers are so large now, something needs to be done.

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Living on the Edge? Staffing with Part-timers on the Teller Line and in Operations

October 22, 2012 / 0 Comments

The article “Improving Branch Productivity with Part-time Tellers” on BAI Banking Strategies reinforces an idealistic concept which all businesses have regarding staffing, particularly in today’s economy; keep FTE (Full Time Equivalents) costs low!  The concept of employing part-timers not only supports the strategic goals of an organization to remain competitive in the marketplace, but also…

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11 Capabilities of Teller Image Capture You Need to Ask For

October 19, 2012 / 0 Comments

There are white papers galore written by the industry’s best teller image capture providers which explain the business case behind teller image capture. It’s encouraging to the market that this workflow is catching on in both large financial institutions and community banks. In fact, based on a recent flurry of large banks making decisions to move to teller image capture, the numbers for this market segment should reach nearly 60% per Celent.

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Three Steps to Avoid Denials and Increase Reimbursement

October 15, 2012 / 0 Comments

Running a successful practice relies on getting reimbursed for services in a timely manner. After all, the best physician and staff can only operate while the bills are being paid. Coding and billing can be a time consuming function in any practice, but proper coding and timely submission are necessary. Often, healthcare practices find themselves inundated with claims denials that must be made up by either resubmitting the claim, passing the payment off to the patient or writing the charge off.

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RDC Summit Rocks the World of Remote Deposit Capture

October 9, 2012 / 0 Comments

As a first time visitor to the RDC Summit, I wasn’t sure quite what to expect. Here was a targeted conference focusing on an offshoot of check processing, which many parties in the industry regard as being under-adopted. However, just the fact that an independent conference attracted over 300 attendees illustrates there is a continued interest across the board to take RDC to the next level. Additionally, the major shift in consumer and small business behavior in Mobile banking and Mobile RDC truly made this conference a winner!

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Duplication of Payments from Both Sides of the Coin

October 4, 2012 / 0 Comments

Duplicate payments can hit an account at a paying bank at any time causing consumers and businesses alike to be overdrawn or charged extra fees. Bankers hate duplicate transactions because at times they can be held liable for the double posting, and it creates customer dissatisfaction even if the errant item is first deposited at another bank. Most of the duplicate incidences at the paying bank are due to…

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Replacing Apprehension of ICD-10 with Preparation

October 2, 2012 / 0 Comments

One of the most significant changes to the American healthcare system since Medicare and Medicaid was proposed is the change from ICD-9 coding to ICD-10 coding. The World Health Organization (WHO) detailed ICD-9 standards over thirty years ago, but that coding system has run its course and is unable to accommodate advances in medicine that require additional coding numbers.

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Reducing Medical Costs with Coordination of Care

September 20, 2012 / 0 Comments

The healthcare industry is certainly a unique blend of profit driven organizations intermingled with government services and controls. With the current political environment, state of the economy and major changes in the medical system in process, it is important for both profit-driven and non-profit medical organizations to streamline operations to control costs and minimize denials while participating in coordination of care. The ultimate goal is to achieve a “targeted bottom line”.

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Data Entry Throughput and Cost: The Real Numbers

September 18, 2012 / 0 Comments

Over the past 15 years, Orbograph has been working with many organizations to identify the miskey rates of data entry operators. This research included: End-user banks, Data entry providers to Orbograph and Research engagements with Global Concepts and Metasoft. Part of our analysis was focused on unit costs of keying, while balancing was also an important consideration. One thing is certain, the environmental variables play a major role in the accuracy of data entry operators.

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