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With successful implementations in teller image capture and remote deposit capture, we’ve accomplished one of the most difficult phases of the product development cycle… strong penetration. The business case has been proven out, solutions have achieved stability and the purchases of these services have offered a robust solution set of features. However, if we objectively evaluate the ultimate goal, straight-through-processing, we still have a major phase level in the process.
Read MoreVijay Balakrishnan led a spirited webinar, hosted by Orbograph, addressing The State of Image Capture Technologies. It’s always interesting to take a retroactive look at what the vision was 5 years ago, and compare that to where we are today. In Vijay’s presentation, he looked at how the vision of distributed capture overall has been realized. But there are areas where the full potential has not fully been achieved.
Read MoreInterested in hearing how proactive revenue cycle management approaches can minimize possible negative effects of healthcare legislation, namely ACA, ICD-10 and EFT/ERA standards? Check out this exciting newsletter from Orbograph. Orbograph will be discussing these topics at the HFMA-ANI show in Orlando, Florida. Stop by booth 639 or contact joe.gregory@Orbograph if you are interested in hearing more.
Read MoreThe HFMA conference brochure pretty much tells it all, “What Now?” The healthcare industry continues to evolve and converge around several critical pieces of legislation including ACA, EFT/ERA electronification and ICD-10. HFMA sessions look very interesting as they address many revenue related topics!
Read MoreIt’s a tough world out there for healthcare providers who are typically scrounging for 15-20% of their claims revenues which are either denied or incorrectly processed. ICD-10 is slowly approaching (10-1-2014), and with the number of codes jumping to 68,000 from the mere 14,000 of ICD-9, it made me wonder how much more difficult the billing and reconciling process may become for providers and patients as there are significant risks in this new process. Anne Smith, RN, principal and CEO of Fredrikson Healthcare Consulting, said, “while the biggest changes focus on code structure and conventions, it would be a mistake to assume only coders need training for the new system.“
Read MoreLet’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!
Read MoreA recent post by Fraud Avengers caught our eye related to Cashier’s Checks. It’s interesting that this long time, reliable check source had become a target in many banks for counterfeiters. Fraudulent Cashier’s Checks typically become a deposit fraud loss at the bank of first deposit (BOFD) when the paying bank has strong controls in place for their incoming cashier’s checks. In order to best catch counterfeit Cashier’s Checks, a financial institution should implement strong image analysis and data analytics which can weed out items that have different check stock layouts as well as items with serial numbers out of range.
Read MoreA recent post by Fraud Avengers caught our eye related to Cashier’s Checks. It’s interesting that this long time, reliable check source had become a target in many banks for counterfeiters. Fraudulent Cashier’s Checks typically become a deposit fraud loss at the bank of first deposit (BOFD) when the paying bank has strong controls in place for their incoming cashier’s checks. In order to best catch counterfeit Cashier’s Checks, a financial institution should implement strong image analysis and data analytics which can weed out items that have different check stock layouts as well as items with serial numbers out of range.
Read MoreTeller Deposit Automation (TDA) is where retail banking meets payment processing. The imperatives that drive these worlds are profoundly different. The previous installments dealt with some of the business case aspects of TDA. This post touches on systems integration and related business implications. Retail banking and payment processing- shotgun wedding, a bridge too far? Let us see.
Read MoreNo 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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