SOURCE: Orbograph

June 22, 2015 09:00 ET

Orbograph Releases White Paper, "Strategic Considerations For Paper-based Healthcare Payments"

Paper Addressing the Future of EOBs, Checks, Correspondence Letters and Patient Payments

ORLANDO, FL--(Marketwired - June 22, 2015) - HFMA-ANI Conference -- Orbograph, a premier supplier of recognition solutions for the U.S. check processing market, as well as electronic/paper automation solutions in healthcare revenue cycle management (RCM), announced today that the company has published a white paper titled, "Strategic Implications For Paper-based Healthcare Payments."

The white paper, released at the HFMA-ANI 2015 Annual Conference, addresses the motivations and considerations of attaining straight-through processing levels of efficiency on explanation of benefits (EOBs) forms, checks, correspondence letters and patient payments. The paper leverages research information from the CAQH Index and Strategic Healthcare Payments Research Initiative from BoardTrust.

The white paper challenges the notion that healthcare providers are highly motivated to eliminate paper due to prioritization of regulatory and compliance requirements, challenges of obtaining and implementing originating EDI files for posting and prioritization of projects with greater ROI.

The paper concludes with strategy recommendations to transition immediately to a 100% paper-free environment by using paper conversion technologies. By implementing such a process, providers can eliminate existing paper processes, reduce unit costs by potentially $1.77 per claim and address top revenue cycle management priorities like aggregated denials analytics.

Barry Cohen, Co-President of Orbograph stated, "There is a paradox in the industry in that EDI payment penetration is only 60%, but satisfaction levels of hospital revenue cycle managers is 91%! I believe there is an educational opportunity to communicate that straight-through process and a paper-free environment can be attained within a 30-day window, with immediate ROI and minimal disruption."

About Orbograph

Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a premier provider of recognition services and software for check processing in the financial industry and electronic/paper automation solutions in healthcare revenue cycle management (RCM). Orbograph technologies are in use in over 1,500 financial institutions, service bureaus and billers processing billions of checks and claims annually. Orbograph solutions are utilized by 20 of the top 30 U.S. financial institutions with in-house check processing. In healthcare payments, Orbograph P2Post and Orbograph E2Post utilize innovative EOB conversion technologies to facilitate and streamline the processing of payments and to automate the posting of receivables into practice management systems. Orbograph enables clients to envision more for by reducing costs and managing risk while ensuring that achieving more is a reality.

NOTE: Actual performance may vary according to hardware used, configuration or other factors within your processing environment. Statistics cited in this release do not constitute guarantees of performance. For more information, visit us online at www.orbograph.com.

Contact Information