Resources

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.

Platform Modernization

Modernizing payments in the banking and healthcare industries

AI, Self Learning & Deep Learning Technologies

Optimized AI and deep learning models for the automation of check processing and healthcare posting

Operationalizing AI & Self Learning in Checks

Revolutionizing check processing and fraud prevention for the banking industry

Delivering Healthcare Payment Electronification

Increased accuracy levels, decreased error rate for healthcare payments posting

Product Videos

See how each product/service module of OrboAnywhere and OrboAccess delivers value from our check and healthcare payment platforms

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Healthcare Payments

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

Access EOB Conversion

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

Access Correspondence Letters

Extracts posting data and tracks reimbursement progress via workflow management

Access Payment Reconcilliation

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

Access Patient Payments

Automates patient payments for posting

Access Denial Intelligence

Spotlights trends in denials to reduce receivables via prevention

Healthcare Payments Automation Center

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

Check Processing

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.

Anywhere Fraud

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

Anywhere Recognition

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

Anywhere Validate

Validate payment negotiability of paper originated items

Anywhere Payee

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

Anywhere Positive Pay

Payee name verification of business checks using issue files

Anywhere Compliance

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

Restrictive Endorsement

Automatic validation of restrictive, mobile and non-restrictive endorsements

Traditional Products

Based on the Accura XV platform

Healthcare Layoffs Highlight New Industry Realities

We’ve talked in this space about the wave of healthcare consumerism and “value shopping” that is becoming the new industry reality. Now we’re seeing some of the more dramatic results of that transition.

General Hospital of Lowell, Massachusetts, laid off 29 managers and non-clinical administrative employees in an effort to cut expenses, reports The Lowell Sun.

The hospital is still a “strong profitable hospital,” Lowell General and Circle Health CEO Jody White said, but this expense reduction was necessary for the hospital moving forward. They continue to hire nurses and doctors, and expand clinical programs.

“We’ve had better days,” White said Wednesday afternoon.

“These are very difficult calls to make,” he later added. “Some of these are friends I hired personally.”

In February, seven transcriptionists were replaced by software. Six employees in the Health Information Management Department were laid off and one decided to retire.

These staff cuts are widespread – – – take a look at this list of 13 healthcare layoffs just in April.

Hospitals have not necessarily stopped recruiting and hiring medical specialists, nurses and doctors. Hospitals are targeting cost reduction measures toward administrative tasks and functions which are not providing value to the revenue cycle. Clearly, the writing is on the wall – – non-profits and for profit providers need to streamline costs and modernize infrastructure as market dynamics and competitive pressure ramps up as part of consumerism.

Adoption of electronification of paper-based payments is one way that hospitals and physician groups to lower costs. According to the 2016 CAQH Core Index, manually entering a claim payment costs $3.46 per transaction vs. $.78 for electronic (over a 440% difference). Furthermore, processing a claims remittance advice manually costs a staggering $6.19 per transaction vs $1.00 electronically (Over 610% difference)! The OrboAccess suite of solutions electronifies paper remittances to drive tangible revenue savings and streamline manual processes.

What was once a good forward-looking policy — a strong payment automation solution — is now becoming the key to survival for many healthcare organizations, big and small. Can you afford to wait?

 

 

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