Lexmark Launches Kofax Claims Agility

Claims Agility eliminates manual, labor-intensive processes and

speeds claim processing

News Facts

  • Lexmark International, Inc., a global technology leader, today launched Kofax Claims Agility™, an ICD-10 compliant software solution that automatically processes institutional and professional medical claims and supporting documents. It captures, extracts and validates all patient, provider and service line data, identifies invalid medical codes and enables knowledge workers to quickly review or correct errors and to accept, escalate or deny claims as appropriate.
  • Kofax Claims Agility replaces manual, paper-based processes with a complete digital solution, improves operational efficiency, and speeds identification of problematic claims and resolution with providers.  It also enables validation workers to make a more informed decision about the next appropriate action, expedites the transition of ‘clean claims’ and corrected claims into the downstream adjudication process, and reduces the cost of claims processing.
  • This new solution solves the overwhelming paper challenges insurers face due to the influx of more than 15 million people brought into the healthcare system through the Affordable Care Act, which has resulted in an estimated 190 million new claims, with an estimated 15 million of those being paper-based.
  • Kofax Claims Agility accelerates claims automation projects for health insurance carriers, property and casualty insurance companies processing injury claims, large healthcare providers and third-party administrators. Designed to process medical claims quickly and efficiently, Claims Agility is built on the TotalAgility® smart process application platform that enables organizations to quickly integrate with back-end systems, create new processes that fit their environment, and monitor, analyze and improve system and user performance through operational analytics. Customers can also take advantage of additional functionality contained in the TotalAgility platform, including customer communications management, information integration, mobile, and e-signature, and leverage these capabilities at any point in the process to minimize workflow gaps and maximize provider and subscriber satisfaction.

Supporting Quotes

“Claims Agility empowers claims processors to make smarter, earlier decisions about claims by automatically capturing, extracting and validating all patient, provider and service line data, and enables knowledge workers to quickly review and correct errors,” said Reynolds C. Bish, vice president, Lexmark and president, Enterprise Software. “Claims are converted into standard EDI files and directed to downstream adjudication processes, thereby increasing operational efficiency, reducing cycle times and costs, ensuring compliance and improving customer service.”

Industry experts expect to see a multitude of denied charges for coding and billing errors when the industry changes to ICD-10 on October 1, 2015. When diagnosis codes change to more specific coding, there may be mismatches with medical necessity and provider payment guidelines. Payers have not changed or may not have released their payment determinations for the new codes.

The Centers for Medicare and Medicaid Services has warned that denial rates could increase 100% to 200% in the early stages of ICD-10 implementation.

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Lexmark Looks to Open the Possibilities

LexmarkNewLogo

A few weeks ago Lexmark presented a Webinar for press and analysts, updating us on what’s going on. There was a lot of information to sort through, some of it old, some of it new, but none borrowed and none blue, all painting a vivid portrait of the current state of affairs at Lexmark, primarily from a solutions perspective.

Earlier this year Lexmark announced a new global branding campaign in an effort to position itself as more than just a hardware provider. Many of us who have attended Lexmark press and analyst briefings in the past kind of saw that coming. As Mike Johnson, vice president North American Business Channels & SMB, said when discussing the company’s new tagline, ‘Open the Possibilities,’ “based on the acquisitions we’ve made Lexmark has much more value to offer its partners and customers.”

Those acquisitions are exclusively software companies. And if Johnson’s message wasn’t clear enough, he further emphasized that Lexmark is no longer just a printer company.

“We’re changing to focus on the higher value solutions business,” Johnson added. “All acquired companies and the Lexmark organization are coming together under one company and one brand.”

For example, under the new branding, Lexmark’s Perceptive Software is now part of its Enterprise Software division. Among the products in that group are Perceptive Intelligent Capture, Perceptive Search, and Perceptive Content, so the Perceptive name isn’t being completely retired.

“Perceptive will transform from a company to a brand in Lexmark,” added Johnson. “It’s all part of our global transformation, one company under one brand.”

That initiative makes perfect sense since promoting the Perceptive Software brand didn’t draw a direct connect to Lexmark, at least for the unperceptive.

Lexmark hasn’t been hesitant about investing in software companies, starting with Perceptive in 2010 and culminating with this year’s Kofax acquisition. Overall the company has invested more than $2 billion in software companies.

The Kofax acquisition, which closed on May 21, ranks as one of the top stories in the document imaging industry for 2015. As previously reported the acquisition doubles Lexmark’s software business from $350 million to $700 million. Coinciding with the closing was the news that Kofax CEO Reynolds Bish will take over as president of Lexmark Enterprise Software upon the retirement of Scott Coons in July.

Asked how Lexmark sees its software business growing beyond $700 million and what factors will contribute to further growth, Johnson replied, “Our goal as an organization is to grow that business organically and get it over a billion dollars. That’s the focus for the next couple of years and Reynolds has a proven track record in the software industry and we think he’s going to be a significant addition to the overall Lexmark team.”

Lexmark’s solutions mission these days seems to be centered around unstructured data, which makes a lot of sense considering some of its acquisitions.

“Our goal is to solve that unstructured data challenge,” observed Johnson. “We want to be able to connect people with the information they need to run their business more effectively and efficiently.”

The Perceptive products within the Enterprise Software division will remain the flagship products for meeting the unstructured data challenge that Johnson was referring to.

Following Johnson’s presentation, Phil Boatman, business alliance manager; Sean Endicott, senior manager, North American Channel Business Development, and Doug Frazier, manager, solutions engagement, North American Channel, dug deeper into Lexmark’s 2015 solutions strategy, which includes continued investment in strategic software acquisitions.

A couple of interesting developments include an increased focus and packaging of vertical solutions, an emphasis on opportunity based engagements for the Perceptive products, a shift in Lexmark’s strategic solutions roadmap such as focusing on added feature/function/value, and accelerating the ReadSoft Online introduction to the third quarter of 2015.

A good portion of the Webinar was devoted to ReadSoft Online, which is a multitenant, cloud-based invoice capture and accounts payable automation solution that is reportedly extremely secure and scalable and is device agnostic. It automates the accounts payable process in an organization and integrates with various on-premise and cloud-based ERP, software and hardware partners’ applications and MFPs.

This software should be of interest to dealers as it provides what Lexmark describes as a highly differentiated solution platform that targets core business areas across all verticals. Plus it’s scalable and suitable for small to enterprise class accounts. According to Boatman, ReadSoft Online broadens Lexmark’s expertise in the accounts payable arena.

“This is where we are getting a lot of that Cloudshare focus,” he says. “Adding more expertise into a core area of business that all verticals have—invoices and accounts payable. Whereas ReadSoft’s Accuread software was device driven on the MFP—for classification, sorting, and extracting information—ReadSoft Online takes it to the next level in terms of the detail it can pull from the document and different media it can collect, whether from an electronic invoice or e-mail.”

It also allows for integration with backend systems in the SMB space. Plus it is vendor neutral and scalable from a large office to a large organization processing thousands and thousands of invoices per month.

Lexmark feels that dealers will embrace this solution because it’s user friendly and allows for easy on-boarding of customers. Plus it has a low cost of ownership.

“It’s a highly engaging solution from a customer perspective, something that will compliment their existing systems as far as how it interacts,” adds Frazier. “It has the ability to operate within the context of the systems they currently use.

ReadSoft currently has a 4 percent share of this market today and Lexmark is looking to grow that number with this introduction.

Another interesting initiative is the Accelerated Opportunity Program, which will help partners uncover and close opportunities for the Perceptive solutions, with Lexmark personnel working alongside them and training them as resellers for its various solutions.

For Lexmark’s partners, the Accelerated Opportunity Program eliminates upfront investment to gain the expertise and the dealer doesn’t carry financial risk of investing in these packages. Lexmark will provide additional staffing to get the dealer started.

With all this software on the menu Lexmark plans to focus on a core set of dealers with the appetite and resources to drive these offerings.

“We’re working on helping our dealers focus on opportunities in the market that they can capitalize on with a set of tools from Lexmark—our software solutions, consulting, services, whatever we can help them with to address a particular market need,” added Doug Frazier. “In looking at where Lexmark has built strength through acquisition and consistent focus the area of accounts payable becomes a ripe area for our partners to look at. This is available for every account our dealer might focus on or are focusing on. We’re already targeting it in mid enterprise customers with workflow solutions. This offers a packaged way to address this market, a market with enormous growth potential.”

Lexmark will assist them in capitalizing with expertise, tools, and training on how to engage with accounts payable, finance, etc.

Finally, and something that the folks at Lexmark are excited about is the new Corporate Briefing Center in Lexington. Described by Greg Chavers, director Value Channel, as “an interactive forum to share Lexmark technology solutions and business differentiators and gain valuable customer/partner insights that impact the bottom line.”

Press and analysts will see that when they visit Lexmark in October.

There’s a lot going on at Lexmark and plenty of possibilities for the future, many of which are opening up now. It’s safe to assume that there will be more to report on in October.

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Three Best of Show Awards

At InfoComm 2015

We are proud to announce that we have once again “wowed” the Pro AV business space. At InfoComm 2015, we recently received three top awards for our flagship AQUOS BOARD™ interactive display system product line and upcoming 120″ Class 4K Ultra-High Definition Commercial Display product.

The following awards represent how Sharp has cemented its position as a trendsetter and market leader by delivering the technology that helps users better communicate, collaborate and gain efficiencies using Sharp’s open-platform collaborative display solutions.

Tech & Learning’s “Best Edtech of InfoComm”
Sharp 80″ Class PN-L803C AQUOS BOARD Interactive Display System

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Sporting a thin, lightweight and stylish design featuring edge-to-edge glass and multi-board functionality, the premium-grade 80″ Class PN-L803C display employs Sharp capacitive touch technology – virtually eliminating latency, making the interface so intuitive and responsive that it feels like writing on a conventional whiteboard in real time! With the Multi Board function, up to three PN-L803C displays can be connected and used to display sequential pages that can be navigated by swiping side to side.The editors of Tech & Learning select honorees based on how well their technology serves the education market, judging entrants on factors including design, usability and affordability. At InfoComm 2015, Tech & Learning recognized the new Sharp 80″ Class PN-L803C AQUOS BOARD interactive display as “Best Edtech of InfoComm.”

Watch the video to learn more about the new AQUOS BOARD displays demonstrated at InfoCommm 2015 >

Rental & Staging System Product Awards “Best LCD Display”
Sharp AQUOS BOARD Interactive Display System

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Sharp AQUOS BOARD interactive displays are designed for smooth and effortless communication in a wide range of contexts. Much more than your typical interactive white boards, the AQUOS BOARD display’s highly responsive touch functionality allows several people to write on the same touch screen at the same time.The 2015 Rental & Staging Systems Product Awards recognize the most innovative products released for the staging market. At InfoComm 2015, Rental & Staging recognized the Sharp AQUOS BOARD Interactive Display product line as the “Best LCD Display.”

Sound & Video Contractor’s “Best of InfoComm”
Sharp 120″ Class 4K Ultra-High Definition Commercial LCD Display

3As the first in the industry to offer a large format 60″ Class video wall, as well as the first 108″ (107.5″ diagonal) commercially available LCD panel, Sharp remains the leader in “big” displays. The massive 120″ Class display boasts 4K Ultra HD resolution (3,840 x 2,160), showcasing detailed text and breathtaking high-resolution content without sacrificing the viewable area with obtrusive bezels from large format video walls or requiring specialized light controlled environments that come with projectors. Its direct-lit LED backlighting delivers natural, vibrant picture quality and uniform brightness. Providing the highest 4K Ultra-High Definition clarity for close viewing, this high-impact professional display is ideal for a multitude of environments, including data visualization, command and control, surveillance, boardrooms and unified communications.Sound & Video Contractor judges awarded points based on criteria including: innovation, performance against category standard, richness/relevance of feature set, ease of installation/maintenance, and value/ROI. Sound & Video Contractor has recognized the Sharp 120″ Class 4K Ultra-High Definition Commercial LCD Display as “Best of Infocomm.”

We know that you share our pride in this recognition of our innovative display technology. For those of you who were able to attend InfoComm 2015, we greatly appreciate your support. To catch up on all the highlights from the Sharp booth at InfoComm 2015, like us on Facebookand Twitter.

Sincerely,

Gary Bailer
Director, Product Planning & Marketing, Pro AV Products
Sharp Imaging and Information Company of America

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Blossom Montessori School For The Deaf Announced As The Grand Prize Winner Of Tech-It-Up – The Sharp® Classroom Technology Challenge

Sharp awards more than $100,000 worth of classroom technology to K-12 Schools across the United States   Sharp Logo

MAHWAH, N.J.June 11, 2015 /PRNewswire/ — Sharp Imaging and Information Company of America (SIICA), a division of Sharp Electronics Corporation (SEC), has announced the winners of Tech-it-Up – the Sharp Classroom Technology Challenge. As part of the contest, Sharp has awarded one K-12 accredited school in the U.S. a grand prize of $100,000 worth of state-of-the-art Sharp branded products for their classrooms, with 10 runner-up schools also winning an AQUOS BOARD™ interactive display system.

Blossom Montessori School for the Deaf, located in Clearwater, FL, is one of a handful of schools in the U.S. using Montessori methods to teach deaf and hard-of-hearing children using both spoken English and American Sign Language. Blossom was selected as the grand prize winner of Tech-it-Up for best demonstrating how the school would integrate Sharp technology such as interactive whiteboards, professional display monitors and document systems (multifunctional copiers) to address student needs and create a more engaging learning experience.

“Winning Tech-it-Up is truly a dream come true, as it represents everything we’ve always wanted for our students,” said Lisa Wilson, Director of Development, Blossom Montessori School for the Deaf. “Our students are truly visual learners and Sharp’s technology will open up our students to a whole new way of learning that will change their lives forever. It’s hard not to get emotional when you think about how Sharp is making our students’ dreams comes true.”

The response to Tech-it-Up – The Sharp Classroom Technology Challenge was overwhelming. Beating a field of over 500 accredited K-12 schools throughout the country, Blossom Montessori School for the Deaf received top marks for their winning entry. For Blossom, tight budgets have made technology upgrades seem impossible; yet their compelling story of how an under-served student population who could gain the most from technology yielded a grand prize of $100,000 worth of state-of-the-art Sharp branded products.

“After a panel of judges had reviewed Blossom’s written submission, they knew they had found a grand prize winner,” said Doug Albregts, President of SIICA. “Blossom’s touching entry demonstrated the absolute need for interactive technology in the classroom. Sharp is proud to provide Blossom the classroom technology that will create a unique and meaningful learning experience for their students, not only enhancing the way they learn, but truly making a difference in their lives.”

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Lexmark Launches Perceptive Checklist Capture

New solution enables users to capture content with the device at hand—mobile, desktop or MFP—to get the job done in the moment, wherever they are.

News Facts

  • Lexmark announced today the availability of Perceptive Checklist Capture, a new solution that automates the process of gathering related documents and data from desktop, mobile and smart multi-functional (MFP) devices, streamlining the capture process and freeing knowledge workers to focus on customer service and compliance. By removing manual steps, Perceptive Checklist Capture also improves accuracy by reducing the rate of misfiled or misclassified content.
  • In the field, Perceptive Checklist Capture enables users to take photos and capture other content with a mobile device, such as a phone or tablet. In the office, users can scan documents at an integrated Lexmark smart MFP or capture files at a desktop computer, then immediately add them to a project or case folder. Leveraging the Perceptive Evolution platform, the capture interface is similar across all devices and platforms, for a consistent and unified experience.
  • Perceptive Checklist Capture updates the project or case folder in real-time, enabling users to track the project’s status. The system notifies users when a document is missing or incomplete, and delivers information directly to the user’s core business system while storing the document in a central repository for speedy retrieval.
  • For example, a loss prevention agent arriving at the location of a reported external theft incident launches an app on his mobile phone, with immediate access to his open case folders. As he opens the active case, he is presented a checklist of outstanding items that need to be collected and notes that the only item missing is photo evidence. Directly from this checklist interface, he selects that item, then takes a photo which creates the relevant photo evidence that is automatically added to the folder. As the checklist is now complete, this case is automatically flagged as ready for review.
  • Perceptive Checklist Capture can be leveraged in virtually every industry, including common areas such as: retail (incident management); government (public assistance); banking (new loan or account automation); insurance (claims); back office (HR case management); manufacturing (logistics document management) or higher education (enrollment services).
  • Perceptive Checklist Capture organizes unstructured data, simplifies deployment and expansion, complements existing core systems, and demonstrates compliance.

 

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