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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

Restrictive Endorsement

Automatic validation of restrictive, mobile and non-restrictive endorsements

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.

hospital rcm

Our parents always told us to aspire to big things — “Be a doctor or a lawyer — they make lots of money.”

We can’t speak for the legal profession (though they seem to be doing well), but a recent survey by physician staffing firm Merritt Hawkins assures us that the amount of revenue physicians generate for hospitals is typically considerably higher than their annual salaries, making them positive assets, to say the least.

The survey was emailed to roughly 3,000 hospital CFOs and other financial managers across the nation between October 2018 and December 2018, and the survey results include data on 93 hospitals. Despite the relatively small data set, Merritt Hawkins believes the survey results are generally reliable and accurate because the overall number for average annual revenue generated by all physician specialties for their affiliated hospitals has remained relatively constant over the 16 years the survey has been conducted.

The top five are listed below. Visit Hospital CFO to see the entire top ten list:

1. Cardiovascular surgery

  • Average revenue: $3.7 million
  • Average salary: $425,000

2. Cardiology (invasive)

  • Average revenue: $3.48 million
  • Average salary: $590,000

3. Neurosurgery

  • Average revenue: $3.44 million
  • Average salary: $687,000

4. Orthopedic surgery

  • Average revenue: $3.29 million
  • Average salary: $533,000

5. Gastroenterology

  • Average revenue: $2.97 million
  • Average salary: $487,000

While healthcare’s main focus should be the health of their patients, healthcare providers/hospitals are well aware that the collection for payment from insurance companies and patients is not as simple as send a bill and receive payments.

While the healthcare industry strives for 100% electronification of payments, paper and PDF-originate payments continue to be an issue, as it requires manual processing and delays cash flow — both contributing to inefficient operations and even investment in their workforce.

By taking a platform modernization approach, hospitals and healthcare providers are able to utilize technologies like AI and deep learning to streamline the processing and posting of payments, while also creating an efficient process to work denied claims.

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

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