Conference seeks to create better value, lower transaction costs in healthcare industry
DALLAS, March 9 /PRNewswire/ -- BancTec, a global provider of advanced, high volume document and payment processing services and solutions, will once again partner with other industry leaders in an effort to improve health costs, quality and access by serving as the Educational Grantor Sponsor at the 7th Annual Medical Banking Institute, to be held March 11-13 in Nashville, TN.
Richard Mobley, vice president of Healthcare Services for BancTec, will discuss specialized lockbox programs as part of a session on the emerging role of banks in health data processing. BancTec will also host the conference's Reception and Networking Gala.
The Institute is hosted by the Medical Banking Project (MBProject), a think tank comprised of industry leaders, legal analysts and other professionals who work to lower healthcare costs by researching and facilitating cross-industry models that optimize banking resources for healthcare. The organization coined the term "medical banking(TM)" to denote the emerging global convergence of banking and healthcare systems.
In recent years, BancTec has built a growing portfolio of solutions and services that support the healthcare industry, highlighted in the U.S. by its RemitCycle 360(TM) revenue cycle management solution, which automates and unifies the administrative and financial events between providers, payers and banks. This HIPAA-compliant payment system processes electronic remittances (835 transactions) and facilitates the electronic processing of explanation of benefits (EOBs) and money transactions from health insurers to healthcare providers. The RemitCycle 360 system improves collections, materially reduces administrative expense and improves bill to post.
"We are glad to extend our sponsorship of the Medical Banking Institute to a second year as it provides us a wonderful opportunity to work with other industry leaders on new ways to make healthcare more affordable and accessible for all," said Jeff Brown, vice president of BancTec's BPO practice in the Americas. "Our global BPO practice has provided some unique insights on improving the efficiency and lowering the cost of information processing, and we look forward to collaborating with other attendees and sharing some of these insights."
About the Medical Banking Project
MBProject is a pioneering authority in the convergence of banking and health care systems to improve cost, quality and access to care. The firm defined HIPAA policy issues related to banking and coined the term "medical banking" now in general use throughout the industry. Through educational forums we showcase visionary ideas and initiatives that inform policy, commerce and academia. Supported by a diverse constituency, MBProject conducts research and outreach that defines and facilitates medical banking, and this supports our mission to convert digital savings into charitable resources. Medical banking improves health care programs for consumers, care givers, health plans and employers. For more information please go to: www.mbproject.org.
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.
All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
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