Facilitating near 100% electronic automation is achieved for PDF and paper-originated payments & remits
AI-Based Check Automation
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.
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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!
In this healthcare-focused blog publication, we cover payment and remittance topics affected by electronification, provider receivables, COVID-19, denials management, and various payer reimbursement topics
OrboAccess extracts and automates healthcare payment and remittance data for cash posting functions, enables full research access to transactional data and enables business intelligence on a variety of payment sources. OrboAccess drives value to the revenue cycle by completing the electronification of payments from health insurance companies (payers) and patients to the healthcare provider, significantly reducing costs by as much as 50% per claim and improves collections of denied claims.
Access EOB Conversion extracts data from scanned images or PDF documents created from paper-based Explanation of Benefits (EOB) or Explanation of Payments (EOP). Access EOB then delivers EDI 835 Electronic Remittance Advice (ERA) files ready for cash posting in practice management (PM) or hospital information systems (HIS).
Access Correspondence Letters extracts index data from scanned images of paper-based correspondence letters typically mailed from payers to healthcare providers. Correspondence, also referred to as denial letters, represent a variety of health plan/payer communications. This includes, but not limited to, insurance payment denial explanations, additional documentation requests, authorization approvals, authorization rejections, patient medical necessity determinations, bill under review and legal correspondence.
Access Patient Payments extracts transaction data from scanned images of paper-based patient payment coupons/statements as well as check image transaction information to generate EDI 835 cash posting files ready for import to practice management (PM), hospital information systems (HIS) or patient billing systems.
The system extracts the serial number, check amount and date directly from the check. Additionally, the claim ID, account number and patient name can be lifted from the payment coupon or statement.
The Healthcare Payments Automation Center (HPAC) is OrboGraph\'s scalable and resilient cloud-based data center which hosts the OrboAccess suite of healthcare payment automation solutions including Access EOB Conversion, Access Correspondence Letters and Access Denial Intelligence.
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 and compliance. Leveraging a combination of divergent amount recognition (i.e. CAR/LAR, OCR, ICR) and image analysis technologies, OrboAnywhere drives value within image capture across the omnichannel of financial institutions, service bureaus and corporate clients. Our systems are proven to reduce operating costs and fraud losses by as much as 50% and are typically licensed via a termed license of subscription model.
Anywhere Recognition is the core technology for all OrboAnywhere modules, delivering read rates of over 95% on checks and over 90% when including internal documents. The system automates the process of depositing paper-originated negotiable items, i.e. checks, cash equivalents, preauthorized drafts, as well internal processing tickets like general ledger, deposit slips, loan coupons and cash tickets.
Anywhere Fraud applies image analysis (automated signature verification, check stock validation) with optional transaction analysis (data analytics) to on-us and transit checks for identification of counterfeits, forgeries, and alterations in real-time or batch processing.
Anywhere Validate automatically validates the negotiability of paper-originated items for any self-service, centralized or distributed capture channel or image exchange trading partner within the Omnichannel of a financial institution. Designed to minimize the risk of checks and cash equivalent images from being non-negotiable, the system is an entirely new approach and technology compared to traditional image usability testing or manual review processes.
Anywhere Compliance uses advanced check recognition technologies to extract a range of field data from checks and other paper-originated negotiable payments. Fields include the payor, payee, bank and amount data. This information is then used to mitigate compliance risk in the areas of OFAC, BSA/AML, Reg CC, UCC and KYC.
Accura XV, our 15th anniversary check recognition solution, is field proven delivering hundreds of clients over 90% read rate with 99% accuracy across a wide range of scanners and diverse bank document mix. Check read rates in version 1.2 have climbed to as high as 95% depending on the mix. Additionally, Accura XV-based image quality/usability (IQUA) tests improve detection rates of image defects.
Now with OrboGraph\'s new Next Generation Recognition Technology, Accura XV\'s V100 mode attains virtually 100% read rates on small transactions in Teller Image Capture. Meanwhile, large transaction misread levels can be tuned to as low as 2 per 1000 items.
Automation Services utilizes up to 20 recognition and automation technologies tightly integrated into a single service.
Automation Services LE (Local Engine) relies on up to 15 different recognition technologies (Accura XV with Next Generation Recognition) to attain local engine performance with guaranteed automation/read rates of 90% and accuracy levels of 99%.
ATMs have evolved from simple cash dispensers and check deposit devices to offering a myriad of multi-channel payment options along with advanced imaging and receipt capabilities. As financial institutions and retail stores expand on self service functionality, ATM\'s and kiosks can provide incremental value to consumers and streamline staffing models. Now is the time to utilize new technologies in check recognition which can validate the fields of the check, improve automation and accuracy, reduce fraud risk and improve the user experience.
The check cashing process for companies in the money services business (MSB) is traditionally manually intensive with many risks. Applying high performance CAR/LAR and check recognition technologies to read and validate the fields of the check, can streamline manual processes, reduce fraud risk and improve the user experience.
New low cost scanners, mobile devices, cloud-based processing and new payment options now enable large corporates, small retailers and sole proprietors to process checks very cost effectively at the point of sale. Check recognition technologies fit well into these new platforms to validate the fields of the check, streamline manual processes, reduce fraud risk and improve the user experience.
Customers using check scanners, flatbed scanners or mobile devices for remote deposit capture (RDC) expect a high degree of functionality and efficiency. Applying high performance CAR/LAR and check recognition technologies can not only streamline the process, but reduce fraud risk and improve the user experience of RDC.
Managed Recognition was created by the OrboGraph Client Services group as a value-added process to ensure exceptional field performance of Automation Services and Automation Services LE . We observed how customer field performance can deteriorate due to considerations of live production including scanner quality, document design and image friendliness, new documents, proper confidence level setting, document templates, item preparation, stamping procedures by tellers and varying validations.
OrboGraph IQUA, Image Quality (IQ)/Image Usability (IU)/Image Integrity (II) modules provide a comprehensive solution for identifying substandard check image quality (also referred to as Non-Compliant Images or NCI), unusable fields or images which mismatch the MICR index. By applying these capabilities, the capture system resident in a wide range of workflows can ensure that the check image captured meets the quality and warranty requirements for image exchange and Check 21 for each given exchange partner.
Defective images can increase risk of exposure and become an expensive adjustment process if not identified upstream in the check processing workflow.
Sereno is OrboGraph\'s most comprehensive check fraud detection and prevention solution for financial institutions and service bureaus. Sereno integrates image-based detection with transactional history (data analytics) to provide the lowest false positives rates and the most accurate fraud detection in the industry for identifying counterfeits, forgeries and alterations of checks.
Automated Endorsement Analysis (AEA) uses advanced image analysis techniques to scan the back of check images to ensure valid endorsements. By detecting endorsements systematically, financial institutions are better able to manage the risk of check fraud, minimize bank-to-bank litigation, reduce dollar thresholds, as well as comply with industry regulations. OrboGraph\'s Automated Endorsement Analysis allows a depository bank to test virtually every check prior to clearing as a means to mitigate risk.
OrboGraph\'s Amount Verification (AV) module identifies both incoming and outgoing check images with incorrect amounts. AV has the ability to reduce the number of incorrect amounts (defects) to six sigma levels of accuracy (3.4 per million or 99.99966% of the checks are statistically expected to have the correct amount) with coverage of 95%+ of the checks.
Payee Name Verification (PNV) provides payee verification to positive pay systems. OrboGraph recognition technologies are applied to match payee names (and address when available) on a check with customer issue file names. The result is a sophisticated technique to minimize risk for financial institutions and your corporate customers.
Banks rely on check images for not only the payment clearing function, but for fraud prevention as well as services tailored to corporate accounts.
Most large banks offer positive pay services to corporate clients in order to mitigate the risk of check fraud on these accounts. Unfortunately, alterations to the payee are not detected with traditional positive pay matching routines, as 52% of all organizations who encountered at least one check fraud attempt experienced payee name alteration on issued checks, according to the 2014 AFP Payments Fraud and Control Survey.
Additionally, community banks are feeling the \"pressure\" from corporate customers to offer additional treasury products and services, because large banks are aggressively targeting this market for new business clients.
OrboGraph Client Services offers a range of professional services which support the objectives of exceeding recognition performance targets and achieving the highest levels of financial return for our customers. Our ability to support our customers and business partners directly have enabled OrboGraph to attain unprecedented performance levels and provide innovative recognition-centric services.