Orbograph Announces New Business Partnership with Healthcare Revenue Strategies (HRS)
EOB data lifting expands HRS denial management impact into EOBs
June 17, 2013, Orlando, HFMA-ANI Conference – Orbograph, a premier supplier of recognition solutions for the U.S. check processing market as well as end-to-end electronic payment solutions for healthcare revenue cycle management, announced today that Healthcare Revenue Strategies, LLC (HRS) will utilize the Orbograph P2Post solution to convert explanation of benefits (EOBs) and utilize industry standard EDI 835 output to supplement its denial management platform RemitWeb™ Online.
Healthcare Revenue Strategies, LLC (HRS) was founded on the belief that in today's environment many healthcare organizations are lacking the proper services and tools to effectively manage and maximize their revenues. Increasing complexities in claims coupled with HIPAA regulations have limited the performance of healthcare organizations. By incorporating EOB remittance advices into the process of analyzing denied payments from insurance companies, healthcare providers will be able to maximize their revenue efficiency and achieve the following:
- Improved net cash within months of implementation
- Decreased AR days
- Decreased unbilled procedures
- Increased monthly cash collections
- Decreased aged AR
“The Orbograph P2Post platform provides us with a flexible alternative to analyze a provider’s receivables when presented as non-EDI based EOBs. The P2Post implementation can be done in as little as 30 days and adapts to a wide range of EOB remittance advices. We can now help our clients analyze the denial and reimbursement patterns across all incoming payer sources, which is incredibly powerful. HRS is excited to offer this new important service to all healthcare providers,” stated Chuck Duncan, CEO/CTO of Healthcare Revenue Strategies, LLC.
“This unique implementation illustrates that the data within an EOB is not only beneficial for posting into practice management systems, but for detailed analysis as well. We are pleased to be a part of the HRS solution and look forward to supporting this innovative solution they provide,” stated Barry Cohen, Co-President of Orbograph.
For additional information please visit HRS at the HFMA-ANI 2013 conference in booth #2109, or Orbograph in booth #639. Otherwise, contact firstname.lastname@example.org.
Healthcare Revenue Strategies, LLC (HRS)
Healthcare Revenue Strategies, LLC (www.healthcarerevenuestrategies.com), is a revenue cycle consulting provider and developer of RemitWeb™ - a denial management software application that helps healthcare organizations rapidly locate and recover lost revenue within their denials. HRS’s expert Revenue Cycle Team is dedicated to helping healthcare facilities achieve optimum revenue efficiency.
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 end-to-end electronic 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 automate posting of receivables into practice management systems. Orbograph enables clients to envision more for their organization by reducing costs and managing risk while ensuring that achieving more is a reality.
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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.