Orbograph Partners with Commonwealth Health Advisors on Hospital Survey To Identify Current Trends in Electronic Healthcare Payment Adoption
Survey targets hospital adoption of electronic payments (ACH) and remittances (EDI 835)
Billerica, MA, May 4, 2016 – Orbograph, a premier supplier of electronic/paper automation solutions in healthcare revenue cycle management (RCM), as well as recognition solutions and image validation for the U.S. check processing market, announced today that the company has partnered with Commonwealth Health Advisors to survey hospitals and healthcare stakeholders to benchmark and confirm current trends in electronic adoption of healthcare payments and remittances in the hospital market.
The independent survey gathers critical, up-to-date information on the adoption of EDI 837 and EDI 835 files for automated posting of payments within the revenue cycle of hospitals for Q2, 2016. Two surveys are created: one specifically for hospitals and another for healthcare industry stakeholders. The surveys not only gather actual numbers from hospitals, but also allow industry stakeholders like clearinghouses, banks, billers and hospital information system (HIS)/Practice Management (PM) vendors to provide their feedback on the state of the industry. [Healthcare stakeholders take survey here]
Previously, Orbograph worked with the American Association of Healthcare Administrative Management (AAHAM) and BoardTrust creating the 2014 Strategic Healthcare Payments Research Initiative.
“By gathering up-to-date adoption numbers, we feel we can help enable the industry and our business partners to tailor their solution offerings which provide better price/performance combinations around EDI services and existing paper-based processes,” stated Joe Gregory, Vice President of Marketing at Orbograph.
“The quest for 100% electronification of payments and remittance is challenging due a diminishing return effect when a small percentage of claims are sent to a larger number of payers/health systems. Great diligence must be shown in order to achieve 100% electronification, and there are number of different ways to accomplish this. We look forward to confirming the adoption rates by administering this survey with Orbograph,” stated David Bjork, CEO of Commonwealth Health Advisors.
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.
About Commonwealth Heatlh Advisors
Commonwealth Health Advisors (http://www.cwhadvisors.com/) is a strategic advisory firm that provides growth acceleration services to healthcare technology firms working with provider organizations. CHA executives bring significant experience in cloud-enabled healthcare services across multiple categories including revenue cycle, electronic health records, practice management, chronic care management and consumer healthcare payment technologies..
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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.