Orbograph’s Healthcare Payment Automation Center (HPAC) Now Certified as CAQH CORE Phase III Compliant
Leading healthcare payments automation solution delivers EFT Reassociation to ERAs
Billerica, MA - November 4, 2014 – Orbograph, a premier supplier of electronic/paper automation solutions in healthcare revenue cycle management (RCM), as well as recognition solutions for the U.S. check processing market, announced today that its Healthcare Payment Automation Center (HPAC) received the Phase III Certification Seal from the CAQH Committee on Operating Rules for Information Exchange (CORE®) and is enabling healthcare payment transformation via electronic data exchange in compliance with the CAQH CORE Operating Rules.
Healthcare payment transformation can only be achieved when remittance data and the payment information are posted and reconciled without manual intervention. Today’s posting process is quite commonly automated via an electronic remittance advice (ERA) in the format of an EDI 835. However, automated reconciliation of an ACH (Automated Clearing House) payment with the ERA requires a TRN Reassociation Trace Number to be used as the matching mechanism between the billing system and the checking account at a financial institution.
The Orbograph HPAC system uses advanced matching logic to automatically match any source remittance data with TRN trace numbers. This matching process enables healthcare providers to automatically reconcile payments to the insurance company’s remittance information, streamlining daily and month end reconciliation. As a result, HPAC facilitates straight-through processing of payments, reduces labor costs of reconciliation and reduces receivables.
“Through rigorous internal testing, field deployment at a large New York hospital and voluntary certification via CAQH CORE, Orbograph has proven that the HPAC solution can transform the healthcare payment process,” stated Barry Cohen, Co-President Orbograph.
“By going through voluntary CORE Certification, Orbograph has demonstrated its commitment to simplifying costly administrative processes for healthcare providers. The CORE Phase III Certification Seal validates that the Orbograph HPAC system conforms with the CAQH CORE Operating Rules,” stated Matthew Albright, Senior Manager at CAQH CORE. “And the use of CAQH CORE Operating Rules can translate into real cost savings for the provider.”
“Many healthcare providers have stated that they are using reassociation as a part of their reconciliation process,” stated Joe J. Gregory, Vice President of Marketing at Orbograph. “Unfortunately, a large percentage of providers are still using the TRN reassociation number via manual processes. HPAC is completely automated and can be implemented by any healthcare provider, biller, clearinghouse or remittance payment workflow as long as the ERA and EFT data is uploaded.”
Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a premier supplier of recognition software for the U.S. check and lockbox processing markets, as well as electronic/paper automation solutions in healthcare revenue cycle management (RCM). The cloud-based Healthcare Payments Automation Center (HPAC) is “Enabling Transformation of Healthcare Payments” by converting paper-based EOBs, correspondence and patient payments, normalizing ANSI X12 EDI 835 remittance advices and reconciling EFT/ACH payments to ERAs via reassociation. HPAC automates posting of receivables into patient accounting systems and hospital information systems, achieving straight-through processing levels of efficiency. Orbograph recognition technologies are “Enabling Transformation of the Check Experience” in over 1,600 financial institutions, service bureaus, clearinghouses 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.
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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.