Catholic Health Initiatives, a 20-hospital national nonprofit healthcare organization, is using Intelligent Optical Character Recognition (IOCR) technology to convert paper-based medical bills and payments into electronic accounting records.
The Denver-based organization is using technology designed by Pittsburgh-based PNC Healthcare to enhance its revenue cycle process. In a pilot project with CHI, PNC's IOCR solution demonstrated the capacity to significantly improve cash posting efficiencies.
PNC Healthcare is one of the few banks to offer an in-house IOCR solution customized for the healthcare industry.
According to Joe Scargle, CHI's director of central business offices, the IOCR technology minimizes manual data entry by automatically scanning, extracting and repairing data from paper forms.
The software matches the data to predetermined templates and creates an electronic remittance advice for automated posting to the patient billing system, where it is electronically linked and searchable via key components. Scargle said the technology has a read rate of 90 percent.
"With this new imaging platform, we no longer have to wait for scanned remittance forms to be processed and returned for manual posting," said Scargle. "By creating an automated format, the ANSI 835, we have been able to gain better control over administrative costs and workflows which translates into faster and more efficient service for our hospitals."
The addition of the IOCR solution allows PNC to complete the billing and payments process with no outsourcing or off-shoring. All related work is performed domestically.
"This technology is also aligned with the administration's move to upgrade the healthcare industry to digital healthcare records," said Paula Fryland, executive vice president and head of PNC Healthcare.
The new IOCR technology is part of PNC's $30 million, two-year investment in healthcare financial solutions, including the new PNC Healthcare brand. PNC offers financial services to more than 1,400 healthcare industry customers.
PNC Healthcare is part of The PNC Financial Services Group, Inc., one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.