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

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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 Reconciliation

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

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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 Payments Report Outlines Strategies of Payments Leaders

Via Business Insider Intelligence

The US healthcare payments market is gigantic, and getting bigger. As seen in the chart above, Healthcare expenditure hit $3.65 trillion in 2018 (per projections from CMS) and this spending is only expected to go up and up (again, as seen in the ski-jump above).

Does that mean cruise control for players in the healthcare payment industry? Don’t get complacent – – Business Insider Intelligence warns that the industry is at a tipping point:

Better-informed and more critical customers, along with a push to combat the complex and opaque medical billing process, are creating demand for innovation in the healthcare payments space.

Despite a titanic market size and room for innovation, digital transformation is occurring incrementally at best. In fact, 90% of healthcare providers still leverage paper and manual processes for collections, according to data from a report commissioned by InstaMed and compiled by Qualtrics.

And even when healthcare providers offer digital solutions like online portals to customers (which 60% do), they seem to be falling short: While the majority of consumers claim they want to make appointments (68%), fill out registration forms (68%), and pay healthcare bills (61%) online, the share of consumers who actually do so hovers around 30% for those use cases. Discrepancies like these make healthcare payments a greenfield for lucrative digital innovation.

The new Business Insider Intelligence Healthcare Payments Report is available at their site, and here are a few takeaways:

  • The US healthcare payments market is indeed massive (see above): For reference, consumers spent slightly less on retail purchases — $3.63 trillion — in 2018, per Internet Retailer.
  • But healthcare payments innovation has failed to keep up with consumer demands due to providers’ reliance on legacy processes, and this may be hurting providers’ bottom lines.
  • Healthcare payments are complicated by the different stakeholders — providers, payers, and patients — that have a role in each transaction. These stakeholders’ needs are shifting as the market changes: Consumers are taking a more active role in paying for their healthcare while states are pivoting toward a model that compensates providers based on the quality of their services rendered rather than the quantity.
  • Some payments firms are successfully adapting to the shifting market by creating digital solutions that balance the evolving needs of the entire healthcare payment value chain.

AI and blockchain are already being embraced in the payments industry, but a more sophisticated, price-and-service savvy consumer base will demand that we stay on the cutting edge. The healthcare industry strives for complete electronification of payments, yet paper-based and PDF-originated payments continue to be an issue, requiring manual processing and cash flow delays — both of which slow industry growth and resilience.

While achieving 100% electronification is the goal, many RCM companies, clearinghouses, and healthcare providers are taking a hybrid electronification approach. They utilize technologies like OrboAccess, which leverages AI and deep learning to greatly reduce the amount of manual processing.


This blog contains forward-looking statements. For more information, click here.

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