Business Process Outsourcing (BPO) solution helps combat costly problem
DALLAS, Feb. 21 - BancTec, a global provider of advanced, high volume document and payment processing solutions, will feature its RemitCycle 360(TM) revenue cycle management solution at the HIMSS08 Annual Conference and Exhibition in Orlando, from February 24-28, 2008. Located in Booth #2813 at the Orange County Convention Center, BancTec will illustrate how the RemitCycle 360 solution is helping streamline the administrative and financial events between providers, payers and banks, a process estimated to cost the healthcare industry more than $350 billion per year in waste and inefficiency.
"Some experts estimate that the cost of collection in the healthcare industry is 20 percent of the medical benefits provided," said Jeff Brown, vice president of BancTec's Business Process Outsourcing practice in the Americas. "Our RemitCycle 360 solution helps combat this problem by providing seamless claims entry, efficient processing of forms and automatic administration of payments. We look forward to showing HIMSS attendees how our solution improves collections, reduces administrative expenses and dramatically improves the bill-to-post lifecycle."
With its long history of providing products and services that automate complex, high-volume, data-intensive business processes, BancTec has been able to take a leadership position in helping the healthcare industry squeeze out inefficiency and waste. For example, BancTec is the Educational Grantor Sponsor for the Medical Banking Project, which is an affiliation of academic, healthcare, technology and financial experts working on ways to leverage the convergence of banking and healthcare systems to improve health costs, quality and access.
Since the release of RemitCycle 360, BancTec has targeted financial institutions that offer treasury management services to healthcare providers, such as Commerce Bank and Pinnacle Financial Partners. "The RemitCycle 360 solution has great potential because of its ability to automate the capture, transmittal and access of claims remittance information," said Tom Gregory, Senior Vice President, Commerce Bank.
At HIMSS08, BancTec will also demonstrate how healthcare organizations can leverage its imaging and BPO solutions to build bottom line value. The company will have its IntelliScan® XDS at the show, the most advanced, easy-to-use and flexible high-speed document scanning and processing solution available. In addition, BancTec will show how those organizations that don't want to invest in new hardware or software can utilize BancTec's extensive BPO services for everything from accounts payable to image capture and archive.
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com/ or call 1-800-BANCTEC.
Chuck Corbin of BancTec
Web site: www.banctec.com/