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Check out our reservoir of information related to check recognition and healthcare payment technologies. We frequently update this section with the latest news, trends, and analysis of the banking and healthcare industries.

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Platform Modernization

Both the financial and healthcare industries are undergoing modernization initiatives in check payments and remittance.  See how OrboGraph is using AI, self-learning and deep learning models to drive innovation in these industries to deliver workflow automation.

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Modernizing payments in the banking and healthcare industries

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Revolutionizing check processing and fraud prevention for the banking industry

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OrboAccess automates remittance and payment posting as well as enables full research and business intelligence analysis for RCM companies, clearinghouses, billers, and providers.

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Delivers EOB/EOP electronification with information intelligence via AI and deep learning technologies

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Extracts posting data and tracks reimbursement progress via workflow management

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Streamlines the reconciliation process of ERA, ACH, EOB and checks

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Automates patient payments for posting

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Scalable, reliable, flexible cloud-based hosted data center on Amazon Web Services (AWS)

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OrboAnywhere automates paper originated payments (i.e. checks, money orders, drafts) and remittances for balancing and posting while reducing risk and losses in the areas of check fraud, payment negotiability and compliance.

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Transaction and image analysis for on-us and deposit fraud detection of counterfeits, forgeries, and alterations.

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Divergent multi-engine CAR/LAR, ICR, OCR & AI check recognition for the Omnichannel

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Validate payment negotiability of paper originated items

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Match, read, and validate payees for risk and operational workflows

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Payee name verification of business checks using issue files

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Mitigate risk in check payments for OFAC, BSA/AML, UCC, Reg CC, and KYC

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Automatic validation of restrictive, mobile and non-restrictive endorsements

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Based on the Accura XV platform

AMA Adds Connected Health CPT Codes; Will It Yield More Revenues?

Source: Thinkstock

The American Medical Association (AMA) updated the Current Procedural Terminology code set (CPT codes) in 2019 to include new codes for connected health services in an effort to encourage the Centers for Medicare and Medicaid Services (CMS) to pay for the services.

According to RevCycleIntelligence.com:

The 2019 CPT code set contains 335 changes that will go into effect for medical billing and coding on Jan. 1, 2019.

A number of those code changes are new codes that can be used to capture the use of connected health tools that support clinicians as they engage in population health and care coordination services, as well as other innovative care delivery services, the AMA explained.

Among those new CPT codes are three remote patient monitoring codes that represent how providers use health IT system to connect with their patients in their homes and collect data for care management and care coordination.

The 2019 CPT code set also includes two new interprofessional internet consultation codes. The new codes aim to show the increasing importance and prevalence of using non-verbal communication technology to coordinate care between a consulting and treating physician, the AMA stated.

The advantages that come with this update? The 2019 CPT code set includes new remote patient monitoring and internet consulting codes to encourage innovative care delivery and Medicare payment for connected health. Some of those code changes, the AMA explained, are new codes that can be used to capture the use of connected health tools that support clinicians as they engage in population health and care coordination services, as well as other innovative care delivery services.

“Medicare’s acceptance of the new codes would signal a landmark shift to better support physicians participating in patient population health and care coordination services that can be a significant part of a digital solution for improving the overall quality of medical care,” explained AMA President Barbara L. McAneny, MD.

“CMS’ proposed rule is a landmark change allowing providers to much more meaningfully use new technologies when delivering medical care,” Nathaniel Lacktman, a partner and healthcare lawyer with Foley & Lardner LLP, recently told mHealthIntelligence.com.

New payments will need improved payment reconciliation capabilities. Let’s see how the adoption process works!

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