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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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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 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)

Modernizing RCM with AI

An informative resource to assist RCM companies in understanding how to solve today's problems with the help of AI.

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

Traditional Products

Based on the Accura XV platform

Modernizing Omnichannel Check Fraud Detection

An informative blog series exploring payments fraud and image technologies used to fight financial crimes.

In the era of the coronavirus pandemic, it’s more important than ever for revenue cycle management to operate at maximum efficiency. Many practices are facing economic uncertainty and cannot afford any additional fiscal leakage.

Indeed, as recently reported by Healthcare Finance News, waste and inefficiency can be a killer in this environment.

How much waste are we seeing? Mark Morsch, vice president of technology at Optum360, gave a HIMSS20 digital presentation and cited data indicating that there might be as much as $200 billion in administrative waste in the healthcare system due to inefficient revenue cycle practices.

“That’s waste in the system between providers and payers that’s generated from a lot of inefficiency, from inaccurate documentation and coding, a lack of transparency, and both sides not being aware of the appropriate steps a lot of times,” Morsch said.

Optum360 provided hiring data that illustrates the extent to which administrative spending has increased. Hiring for physicians has increased since 1970, but not nearly to the extent of administrative hires, which have grown 3,000% during that time.

Many of the tasks currently performed by those in administrative positions are repetitive, often requiring data entry. These types of tasks are prime candidates for automation through AI – allowing for employees to focus on more revenue-generating tasks.

Optum360’s data validates the usage of AI:

  • 97% of those in the industry trust AI to handle administrative or clinical applications
  • 85% are currently implementing or developing some kind of AI strategy
  • More than half – 55% – expect AI to achieve positive ROI in fewer than three years.
AI and Machine Learning technologies are able to extract data from paper-based payments, creating EDI 835 files to auto-post into HIS/PMS systems for healthcare providers.

On average, organizations are investing $39.7 million in AI implementation over the next five years. Already, almost one-third of health plans, providers and employers are automating processes such as administrative tasks or customer service, and 56% of health plans are using the technology to combat fraud, waste and abuse. Thirty-nine percent of providers are using it to personalize care recommendations.

“It’s not just technology,” said Morsch. “When you think about leaders investing in this technology, leaders are looking for expertise. They’re looking for partners who know AI and know how to apply it to their workflows and processes not just to automate or partly automate what’s there, but in many ways to reinvent them. Talent is very significant across the board when you’re talking about AI.”

Consequently, 52% of health executives expect AI to create more work and hiring opportunities.

In addition to the amount of labor hours to manually execute these functions, errors and fatigue lead to costly inefficiencies as well. Also, given the growing amount of data communicated in healthcare, AI creates the means by which speed and efficiency beyond human capacity can be reached. Additionally, the article states that machine learning can optimize edits by the payer and score denials to inform high-potential appeals.

AI and machine learning technologies are able to achieve tangible results in RCM, delivering electronification of healthcare payments that create crucial efficiencies in the coronavirus era!


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

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