Healthcare Revenue Cycle Management

A Simple HIPAA Compliant Solution for Banks Entering Medical Lockbox

By jgregory / June 10, 2013 / 0 Comments

Let’s say that a financial institution (FI) wants to provide a medical lockbox processing solution to its existing healthcare provider customers and/or prospective customers outside its geographic branch locations. Ideally the system would process both insurance payments as well as patient payments. In order to get into this business, particularly capturing and scanning EOBs, the FI will need to follow the rules and regulations around HIPAA/HITECH; a potentially daunting and intimidating process!

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Orbograph Takes New Orleans by "Storm"

By jgregory / April 22, 2013 / 0 Comments

No pun intended, but New Orleans + Orbograph Client Conference = “a hurricane of check and healthcare processing”! The Orbograph Hurricane began on Wednesday evening, April 10th, with a wonderful opening reception. Nearly 70 attendees filled the reception hall to interact and listen to a local New Orleans Jazz band. A classy and jazzy way to start!

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Orbograph Client Conference 2013 is Just Around the Corner

By jgregory / February 27, 2013 / 0 Comments

Did you see our recent press release announcing our conference agenda with a star-studded line-up of presenters and topics? Join us for our Check and Healthcare Payments Automation Jazzfest where you will be blown away with an ensemble of content, networking activities and entertainment!

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20% Replacement in Revenue Cycle Management Predicted in Next Two Years

By jgregory / February 4, 2013 / 0 Comments

The HITECH Act has stimulated the adoption of Electronic Health Records (EHR) and Health Information Exchange (HIE) solutions. Additionally, the delays in the ICD-10 compliance deadline has opened a window for healthcare providers to assess their existing Revenue Cycle Management (RCM) platforms.

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Weighing Pros and Cons of 3rd Party Billers in the Revenue Cycle

By jgregory / December 21, 2012 / 0 Comments

Third-party medical billing companies employ nearly 20,000 people nationwide and process more than 17 million claims per month, representing more than $18 billion per year, according to statistics provided by the Healthcare Billing & Management Association (HBMA), a trade association representing third-party medical billers.

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Three Steps to Avoid Denials and Increase Reimbursement

By jgregory / 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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Replacing Apprehension of ICD-10 with Preparation

By jgregory / 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

By jgregory / 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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Helping Bankers Sell Medical Lockbox Services

By jgregory / September 6, 2012 / 0 Comments

Healthcare providers have one of the most complex payment cycles. One would think that most would simply outsource the lockbox function to a service provider or financial institution (FI). Unfortunately, FI’s struggle in many ways to sell medical lockbox processing. But why? Many of the FI’s officers are not hunter sales people. They are account managers who farm a territory. Convincing a provider to outsource their entire operation, or switch from another is a major decision which involves a strong business case as well as long-term strategy. Account managers (AM) are used to visiting accounts, chatting about customer service and managing a relationship. They don’t have highly compensated sales programs which motivates the AM to have a strong, sometimes uncomfortable sales closing process.

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10 Considerations for Selecting a Medical Lockbox Provider

By jgregory / August 22, 2012 / 0 Comments

Working with a financial institution for healthcare payment processing via a medical lockbox is an excellent method to eliminate inefficient in-house manual processes for healthcare providers. Providers can typically reduce overhead, improve collections in receivables, decrease bad debt/write-offs, reduce fraud and eliminate paper in the office. While the benefits can be impressive, selecting the right vendor can often be a confusing task.

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