Tuesday, June 24, 2014

Study on Healthcare Payments Processing Re-Enforces EOB Opportunity

The study was commissioned by Orbograph and conducted by BroadTrust.

Great quote from VP of Marketing Joe Gregory in press release that came out today: “There appears to be a paradox in the industry. One half of the respondents were still processing 25% paper and the overall electronic payment penetration is estimated to be near 60%. Meanwhile, satisfaction levels toward EDI adoption with hospital revenue cycle managers are 91%! There is a clear disconnect between expectations of industry influencers and actual achievements.”

If you remember, I came away from the recent IOFM Payments Summit with a feeling that there is a big opportunity in capturing paper EOBs when combined with the right additional processes - mainly in the area of payment processing. I think the results of this study re-enforce that view.

Great ideas that transform paper-burdened operations to fully automated platforms need greater visibility,” - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf
"Great ideas that transform paper-burdened operations to fully automated platforms need greater visibility,” said John Casillas, CEO of BoardTrust.

"The data affirms that there is still a lot of untapped value in transforming revenue cycle operations from paper-based to digital processing. Our action item from this survey is to develop additional educational programs on the benefits of electronification and methods to achieve straight-through-processing of payments and remittances," added Barry Cohen, co-president of Orbograph.

The 2014 Strategic Healthcare Payments Research Initiative is available on the Orbograph website, and can be downloaded at www.orbograph.com/ 2014-strategic-healthcare-payments-research-initiative.htm. - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf
The 2014 Strategic Healthcare Payments Research Initiative is available on the Orbograph website.
When leaders of organizations are willing to throw
“there appears to be a paradox in the industry. One half of the respondents were still processing 25% paper and the overall electronic payment penetration is estimated to be near 60%. Meanwhile, satisfaction levels toward EDI adoption with hospital revenue cycle managers are 91%! There is a clear disconnect between expectations of industry influencers and actual achievements.” - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf
“there appears to be a paradox in the industry. One half of the respondents were still processing 25% paper and the overall electronic payment penetration is estimated to be near 60%. Meanwhile, satisfaction levels toward EDI adoption with hospital revenue cycle managers are 91%! There is a clear disconnect between expectations of industry influencers and actual achievements.” - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf
“there appears to be a paradox in the industry. One half of the respondents were still processing 25% paper and the overall electronic payment penetration is estimated to be near 60%. Meanwhile, satisfaction levels toward EDI adoption with hospital revenue cycle managers are 91%! There is a clear disconnect between expectations of industry influencers and actual achievements.” - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf
“there appears to be a paradox in the industry. One half of the respondents were still processing 25% paper and the overall electronic payment penetration is estimated to be near 60%. Meanwhile, satisfaction levels toward EDI adoption with hospital revenue cycle managers are 91%! There is a clear disconnect between expectations of industry influencers and actual achievements.” - See more at: http://www.orbograph.com/orbograph-underwrites-2014-strategic-healthcare-payments-research-initiative.htm#sthash.0EOnFcrI.dpuf

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