Automate The Data Capture & Indexing Of Explanation Of Benefits (EOB)Source: A2iA Corporation
In the healthcare industry, payors face challenges when it comes to streamlining revenue cycle management and adhering to the timely needs of physicians and patients. When patient data is handled accurately and efficiently, revenue cycles are expedited, costs appropriately allocated, and healthcare can be streamlined through to the very care patients receive.
Documents like Explanation of Benefits (EOB) present a great challenge and typically cause backlogs due to their complexity, leading to money and resources spent with little return. Each datapoint on an EOB contains critical information and is typically in a list, or columnar layout, accompanied by payments that require immediate reconciliation to ensure an efficient revenue cycle. Data from these columnar fields must be entered into a processing solution to ensure accurate record keeping and to determine if a payment has been made in full, if the claim can be closed, or if it requires resubmission. However, because of the intricate layout of this information, much of this is work is performed by hand.