Skip to content

AI Innovation

Both the financial and healthcare industries are undergoing an AI evolution. Review our vision for Artificial Neural Networks (ANN) and deep learning targeting these industries.

AI and Deep Learning-Based Check Processing

Check recognition & fraud detection are the most important components in today's check processing and omni-channel capture. Learn how OrboAnywhere using OrbNet AI technology reduces costs and mitigates risk for any check image capture workflow.

AI-Based Healthcare Electronification

OrboAccess, powered by OrbNet AI, provides electronification to remits and payments, enabling RCM companies to automate posting, improve research, and deliver business intelligence

About Us

Celebrating 25 years of innovation, OrboGraph has transformed into an AI company delivering targeted automation solutions to the banking and healthcare industries.

Resources

From news and events to case studies, trends, and videos, this section provides a range of information resources for payment automation in the banking and healthcare industries.

Blogs

OrboGraph produces four blog series on a weekly basis covering topics from check processing, fraud prevention, AI technologies, RCM, and healthcare electronification. Select one the blog to the right. We hope you enjoy!

Industry News: 3M Taps Waystar for Revenue Cycle Automation

Healthcare Finance reports that 3M's healthcare division is partnering with Waystar to implement AI automated revenue capture in its over 6,000 health systems and hospitals in the US.

According to the article, 3M will  leverage Waystar's predictive analytics and machine learning algorithms to analyze historical data, identifying patterns to  pinpoint possible missing charges as well as underpayments and overpayments. It will automatically identify potential incorrect and under-coded claims before they are submitted.

In the news release, Matt Hawkins, CEO of Waystar, shares insights on the partnership:

Double,Exposure,Of,Healthcare,And,Medicine,Concept.,Doctor,Using,Modern

The healthcare industry has long been marked by administrative waste and inefficiency, said Waystar Chief Executive Officer Matt Hawkins. We are proud to bring artificial intelligence to help 3M clients solve these perennial challenges and take the manual work out of healthcare payments. Through our collaboration, we are now able to combine the best of Waystar's technology with 3M's expertise in organizational change. Together, we will empower health systems and hospitals to prevent revenue loss, operate more efficiently and free up resources for patient care.

Elizabeth Guyton, vice president, 3M Health Information Systems, comments on the benefits of the partnership:

At 3M, we are committed to providing innovative solutions that allow health systems and hospitals to solve their administrative challenges and more effectively capture revenue they're appropriately owed, said Elizabeth Guyton, vice president, 3M Health Information Systems. Our collaboration with Waystar brings together a more comprehensive, end-to-end revenue cycle—from capture to coding to appropriate payment—for our clients.

The partnership reaffirms 3M's affirmative position on how AI technology increases revenue cycle efficiency:

The Larger Trend

This news also reinforces the trend of revenue cycle companies, healthcare systems, and hospitals partnering with technology vendors to leverage their software and expertise to increase efficiency and eliminate laborious tasks. According to Healthcare Finance:

  • Revenue integrity remains a top concern for hospital and health system CFOs and revenue executives.
  • An estimated 30% of hospitals and health systems require two or more vendors for revenue cycle automation.
  • Revenue cycle directors interviewed have said the ROI on automation is through money saved through fewer full-time equivalent positions.
Medical,Healthcare,Research,And,Development,Concept.,Doctor,In,Hospital,Lab

It is clear from the trends noted in Healthcare Finance, along with the news from Waystar and 3M, that revenue cycle continues the push towards adopting AI and machine learning technologies to automate the processing of healthcare payments -- accelerated by the COVID-19 pandemic.

Automation of the entire revenue cycle would require a major overhaul of processes and technology for hospitals and healthcare systems that is simply not feasible. Therefore, RCM outsourcers, hospitals, and healthcare systems need to identify specific processes fraught with manual tasks -- such as remittance processing -- and smooth that hurdle by teaming with a technology vendor like OrboGraph, which specializes in automating processes with AI technologies.

Leave a Comment





Review your needs with an OrboGraph expert.

Sign up below for your complimentary assessment or to request
estimated solution pricing from OrboGraph.