This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Orbograph Diversifies Into Healthcare Revenue Cycle Management Through Acquisition Of Correct Claims Now Assets

BILLERICA, Mass., Sept. 27, 2011 /PRNewswire/ -- Orbograph Ltd., the subsidiary of Orbotech Ltd. (NASDAQ/GSM: ORBK), today announced that it has signed a definitive asset purchase agreement with Correct Claims Now, a privately held company that provides services in the field of Healthcare Revenue Cycle Management (RCM).

Today, many healthcare providers utilize a manual process for reconciling and posting payments which is cumbersome, costly and error-prone. The integration of CCN into Orbograph capitalizes on the best of both companies' competencies to provide a full, end-to-end electronic solution for the efficient processing of payments between the healthcare provider and the payer. This includes identifying, matching and reconciling several complex, paper-based or electronic forms such as claims, explanation of benefits (EOB) and other data necessary to ensure accurate, timely, and automated posting of receivables into the provider's practice management system.

"Orbograph has extensive field experience and strong operational capabilities in deploying effective recognition-centric automation solutions for mission-critical financial environments.  CCN provides deep expertise and know-how in healthcare payments processing," said Barry Cohen, General Manager at Orbograph.  "By joining forces, we can achieve an unprecedented level of revenue cycle efficiency that will provide critical advantages for providers including: lowering the cost of collecting and posting a payment, reducing aging of receivables, and increasing reimbursement amounts."

By entering into the area of healthcare RCM, Orbograph is investing in an additional, synergistic line of business that builds upon its core technologies and knowledge and fully complements its existing solutions portfolio and customer base in the financial industry. Orbograph, whose solutions are utilized in the processing billions of checks and related documents annually, remains fully committed to its core check processing business. The Company expects that this acquisition will bring expanded revenue potential for its clients and business partners, including many large top-tier U.S. banks, by enabling them to provide new payment processing services for their medical lockbox customers.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.48 -0.23%
FB $101.58 -0.32%
GOOG $682.43 -0.10%
TSLA $147.40 -2.00%
YHOO $26.76 0.00%


Chart of I:DJI
DOW 15,891.92 +231.74 1.48%
S&P 500 1,853.36 +24.28 1.33%
NASDAQ 4,308.9310 +42.0940 0.99%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs