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DIGITAL RECORDING SOLUTION MUST BE PART OF OVERALL WORKFLOW

In Digital Voice Recording by Will Pfeifer

In an article on Linked In, speech processing specialist Doron Mansur listed several benefits of utilizing digital voice recording in the business, medical and insurance fields, including dictating notes, letters and agreements for later transcription; updating patient records and creating reports; keeping detailed notes from meetings with insurance clients to comply with ever-changing industry regulations and recording meetings and conferences …

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ADAPT TO CHANGING INDUSTRY BY AUTOMATING MEDICAL BILLING CYCLE

In Panoptic by Will Pfeifer

In the coming years, the insurance industry will undergo dramatic changes, and carriers will be forced to adapt to a continually shifting business landscape. But trying to adjust to those changes with the paper-intensive methods they’ve used in the past won’t be enough. Adapting to the future of the insurance arena requires a new approach. Carriers need to be prepared to …

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AS BILLING GROWS MORE COMPLICATED, IT’S TIME TO AUTOMATE YOUR PROCESS

In eBill, Uncategorized by Will Pfeifer

In an article in Newsday, Janine Logan, a representative for New York’s Nassau-Suffolk Hospital Council, said treating COVID is a complicated process, which makes the billing equally complicated. Because of the complexity of each COVID-related case, there’s no “typical” medical bill, Logan explained, adding, “For those on ventilators and/or on dialysis for a protracted length of time, the costs can …

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MOVING TO A DIGITAL MAILROOM? CONSIDER THESE THINGS FIRST

In Centralized Mailroom by Will Pfeifer

A recent article on AIIM.org listed some of the obvious physical benefits of digitizing your mailroom, including reduced document storage space and less need for photocopying and paper handling. But, as the article points out, there are other benefits that are less obvious but much more important in transforming how a company does business. These include: Improved ability to search …

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AUTOMATE YOUR REMITTANCE PROCESSING TO SURVIVE CHALLENGING TIMES

In Remittance Processing by Will Pfeifer

If the COVID-19 pandemic has proven anything, it’s that cash flow management is critical for organizations to survive. Processing payments and remittances in a timely manner can become an overwhelming burden that leads to a much longer cycle time with higher costs. Though much of the country is working remotely, remittance processing remains a crucial task that more often than …

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LEARN HOW YOUR COMPANY CAN BENEFIT FROM AUTOMATING AP WORKFLOW

In AP Workflow by Will Pfeifer

Companies that automate their Accounts Payable workflow stand to benefit financially, according to a study at IOFM.com: Companies that use “limited automation” (no more than 20 percent of invoices received electronically) can expect to receive 52.9 percent of early pay discounts. Companies with “moderate automation” (21 to 69 percent of invoices received electronically) can expect 58.5 percent of the same …

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AS TECHNOLOGY GROWS, CAN YOUR ORGANIZATION ENSURE COMPLIANCE?

In Compliance by Will Pfeifer

New developments in technology mean increased efficiency, speed and data processing power, but they also bring regulatory risks. As an article at Corporate Compliance Insights points out, growth in data-processing “continues to outpace clear regulatory and ethical consensuses, which leaves organizations struggling to weigh their current value against the potential for crossing an as-yet undefined line.” If your organization doesn’t …

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WHAT’S NEXT FOR ACCOUNTS PAYABLE DEPARTMENTS AFTER COVID-19?

In AP Workflow by Data Dimensions

After three months of a whirlwind of activities adjusting to the operational disruption caused by the COVID-19 pandemic, most accounts payable departments have settled into an operational rhythm.  Now the hard part begins.  Accounts payable departments must rethink the way they operate and their underlying cost structure.  Tired approaches to processing invoices cannot meet the challenges created by COVID-19: New …

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AUTOMATING YOUR AP PROCESS IS VITAL — BUT YOU SHOULDN’T DO IT YOURSELF

In AP Capture by Will Pfeifer

A recent Business Insider report showcased the paradox facing the payments market: Businesses struggle to deal with high volumes of invoices, but converting from an analog process to a digital one is extremely difficult, with “entrenched habits and limited resources” causing many companies to question how they can make the transition. But there is an answer: Companies seeking to digitize …

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PANOPTIC OFFERS SOLUTION FOR WORK COMP CHALLENGES, EVEN IN DIFFICULT TIMES

In Panoptic by Will Pfeifer

According to an April 24 article by Marianne Tancor, the workers comp industry is facing dramatic challenges during the COVID-19 pandemic. Insurance carriers are being hit with new regulations, collection of insurance premiums has become more difficult and some legislators are seeking to expand coverage and compensation beyond what policies originally called for. In addition to navigating these new challenges, …