Featured Post:
Healthcare continues to be fraught with paper documents which contain important and essential information. However, to extract this data manually is a task that is burdensome and would take a superhuman effort to complete with no errors.
That's where integrating Machine Learning technologies plays a huge role in granting healthcare workers and RCM servicers "superpowers" to complete these tasks at a superhuman efficiency level. While we admit that this superpower isn't what we imagined as kids and there is no cool origin story like being bitten by a radioactive spider, the value to healthcare is just as important.
Photo by Porapak Apichodilok from Pexels.
Additional Blog Posts
Critical Components for Successful Business Continuity in RCM
Nearly three months ago, businesses across the country were forced to close down their offices to help slow the spread of the novel coronavirus and protect their number one asset -- their employees. This decision presented a difficult challenge for businesses: How to continue full operations with much of the labor force working remotely.
Many of their employees had the ability to perform their job functions remotely, so many businesses were able to adapt quickly. This was not the case for revenue cycle management.
White Paper: The Healthcare Automation Blueprint
It is no secret that businesses across the globe are tasked with improving the efficiency in processes to lower costs and maximize revenue potential. This is further exacerbated for healthcare organizations during the Covid-19 epidemic which has caused major declines in patients visits and revenue.
According to Notable Health , healthcare organizations waste more than 1000 hours per year on repetitive administrative tasks that can be fully automated
Enabling Healthcare Data Visualization with BI
In the digital world, we are seeing tremendous growth and robustness of data being collected through various systems, particularly in healthcare. Many people are familiar with the concept of "big data" and, in recent years, have deployed initiatives to understand and mine that data. However, in many cases, the data is fragmented, coming from various sources and different formats leading to the inability to fully harness the power of the data.
Healthcare Factoring vs. Business A/R Financing & Implications with COVID-19
COVID-19 has forced many hospitals and health systems to stop the elective procedures that make up the lion’s share of their revenue. This of course, has led to wide-spread short-term cash flow issues...
As their leadership seeks new ways to navigate cash flow challenges brought on by the pandemic, innovative organizations have stepped forward..
Unleashing the Medical Lockbox of the Future
As lockbox processing battles commoditization, The Medical Lockbox of the Future can become a key differentiator for RCM companies, banks, clearinghouses, and service bureaus. This exciting video highlights newest capabilities of today’s medical lockbox then describes the potential of automation and innovation for the future.
“Chronic” Problem Turns into Revenue Opportunity – Denial Write-Offs
The novel coronavirus has drastically affected the healthcare industry. Hospitals across the country are forced to make the tough decision to furlough many of their employees; rural hospitals struggle to deal with the losses in revenue from canceled elective procedures and testing; and primary care physicians have seen patient volumes dropped by as much as 60 percent. Resources are scarce and now providers have less time to work denied claims.
Change Healthcare Predicts Exponential Impact of Rev Cycle AI
The hospital revenue cycle is facing unprecedented shifts on multiple fronts, and this Change Healthcare podcast episode with Thomas Laur, EVP and president of the company’s Technology Enabled Services business provides high level, forward-looking insight for vendors in the RCM space.
Healthcare Innovations – Beyond the United States
Many of today's innovations in healthcare are developed across the globe -- with Israel being one of the major sources. The Nashville Health Care Council's (NHCC) 13th Annual International Health Care to Israel highlights the advancement in technologies...
Complexity Delays AI Convergence with Data Analytics: HIMSS Report
As healthcare organizations are learning how to best deploy AI solutions, many have struggled to mature, particularly around using AI scores in analytics. Why? Complexity of projects! Yet, the market is hungry for solutions.
According to the recent white paper from HIMSS, The Convergence of Data Analytics and Artificial Intelligence (AI) in Healthcare...
Paper, Electronification and the InstaMed Report
JP Morgan Chase (JPMC) made a powerhouse move in the healthcare payments space by acquiring InstaMed. This $500M investment “shows that the nation’s largest bank views the fast-changing world of payments as a battleground worthy of aggressive wagers.”
RCM: The Unsung Heroes of Healthcare
While the healthcare providers receive much of the attention from the media for tackling the Covid-19 pandemic, deservedly so, those in the back office and operations are the unsung heroes, keeping the healthcare organizations operational in a harrowing set of circumstances...
HFMA RoundTable: Improving the Revenue Cycle through Operational Transformation
As revenue cycle leaders continue to prioritize innovative responses to growing industry challenges, HFMA has stepped forward in partnership with Change Healthcare with a look at the opinions and actions of some of the most forward-thinking voices in the field...
Prescribing a Treatment to the Pain of EOBs: Creating a Strategic Asset for RevCycle Companies
It comes as a surprise to many in the industry, but market adoption of electronic EDI 835 files as a replacement for EOBs is moving at a sloth’s pace and even decreasing. At the same time, paper-originated volumes and PDF versions of EOBs via payer portals are increasing.
The Benefits of Electronification: Denials Management and the Patient Experience
An efficient revenue cycle yields more than just back-end benefits. It can even improve the patient financial experience. A focus on straight-through-processing (STP) that leverages technology like AI and machine learning helps create a more accurate revenue cycle.
Solving Accuracy Problems within the Revenue Cycle — From the Back-End
Accuracy is a problem across the entire revenue cycle. But what are the implications of accuracy issues? Learn about the front-end challenges and read about use cases and the impact on vendors in this post.
The Medical Lockbox of the Future: Delivering Integrated Receivables
This white paper provides a vision for RCM companies to drive innovation in the area of medical lockbox processing, using technologies like AI and Deep Learning.
OrboGraph Projects Growth of PDF and Paper Volumes for RCM
Yesterday’s answer would have been hiring more staff to address the growth in paper volumes, but today, paper challenges like this are an outstanding use case for applying artificial intelligence (AI).
Building Better Denial Management Solutions for Your Clients
According to recent estimates, gross charges denied by payers has grown to an alarming 15 to 20 percent of all claims submitted.” This statistic, and more, were cited in Becker’s Hospital Review from CPA and business advisory firm, Eide Bailly LLP.
Case Study: Catch21: Service Bureau Masters RCM Payment and Remit Automation
This case study provides healthcare payments professionals with a real-world instance of a RCM company deploying a hybrid electronification solution to improve efficiency and cost savings, providing a higher level of customer satisfaction to their customer base.
White Paper: Healthcare's "New" Strategic Assets
Paper and PDF-originated payments, remittances, and correspondence letters are here to stay, according to the 2018 CAQH Index. Only 48% of healthcare payments are now fully electronic; with the volume of remittance advice transactions increasing 39% from 2017 to 2018, the healthcare industry has a real paper problem - or does it?
Enabling Hybrid Electronification in Healthcare Payments
Hybrid Electronification is a viable solution to help RCM companies, clearinghouses, large banks, and healthcare providers to address these issues. The infographic to the right provides a quick glance on the landscape of paper in healthcare, technologies to achieve hybrid electronification and the benefits.
Modernizing with AI Solutions That Deliver RCM Electronification
You’ve probably used natural language processing (NLP) when you asked Google, Alexa, or Siri a question. But in the electronification world, the potential goes a lot further than ordering another box of laundry detergent or asking what the weather will be.
It’s time to rethink revenue cycle tech from the outside in.
Astonishing AI Results — Get to Know OrboGraph
“Everybody” knows that in many cases, healthcare lags behind other industries when it comes to tech — and that’s exactly why we’re so excited to share this experience with you.
When implemented properly, AI can produce astonishing results — results that potentially help the healthcare payments industry leapfrog...
How Billing and Collections Are Revolutionized by AI
That’s a question we ask ourselves every day at OrboGraph — we’re just as focused as you are on increasing RCM Companies' and Banks' cash efficiencies, decreasing your reliance on manual intervention, automating your general ledger, and helping you improve collections...
3 Powerful Applications of AI in RCM Today
AI (Artificial Intelligence) is already prime time in clinical and administrative functions in the healthcare industry.
According to this NY Times article, doctors are even impacted by AI! Some on the clinical side may...
Watch the 2-minute Video: Get to Know OrboGraph
What does real healthcare finance efficiency look like?
That’s a question we ask ourselves every day at OrboGraph — we’re just as focused as you are on increasing RCM Companies' and Banks' cash efficiencies, decreasing your...
Blog authored by OrboGraph Innovations Team.