Wednesday, September 28, 2011

Vertical Specialization Increasing

The sign of a maturing market is when you take proven technologies, such as document imaging and OCR and start to package them into soluitons. Invoice processing for accounts payable has been one of the big ones in our industry over the past few years. Recently we saw two announcements about imaging vendors moving more deeply into vertical solutions.

One is from Konica-Minotla, which has announced "customized electronic document management suites developed in conjunction with Prism Software to address workflow demands across key vertical markets." These include legal, education (both secondary and higher), healthcare, and legal.

The suites seem to be a combination e-forms/document mangement system. "The suite is powered by a robust document and forms management system that improves workflow efficiency by eliminating paper- based forms, while providing a low-cost document management solution for office environments of all sizes."

Recognition technology specialist Orbograph has acquired Correct Claims Now (CCN), a Dallas-based company, "that provides services in the field of Healthcare Revenue Cycle Management (RCM)." Basically the acquisition seems to enable Orbograph's recognition technology to the RCM processes that CCN specializes in. These include claims and EOB processing.

From the press release, "“Orbograph has extensive field experience and strong operational capabilities in deploying effective recognition-centric automation solutions for mission-critical financial environments. CCN provides deep expertise and know-how in healthcare payments processing”, said Barry Cohen, General Manager at Orbograph. “By joining forces, we can achieve an unprecedented level of revenue cycle efficiency that will provide critical advantages for providers including: lowering the cost of collecting and posting a payment, reducing aging of receivables, and increasing reimbursement amounts.”


carl can said...

Very informative post. Thanks for taking the time to share your view with us. healthcare

Alex said...

Thank you for the info. It sounds pretty user friendly. I guess I’ll pick one up for fun. thank u

Revenue Cycle Management