Increasing Automation of Claims-Related Business Transactions Would Save Healthcare $11.1 Billion Annually

By a News Reporter-Staff News Editor at Managed Care Weekly Digest -- The U.S. healthcare industry made a modest amount of progress in automating claims-related business processes, but a significant opportunity to save $11.1 billion annually remains, according to new data released in the fifth annual CAQH Index®. The report shows increased use of some manual transactions - primarily via web portals - resulting in a reversal of gains made for some of those transactions in previous years and the increase in potential savings (see also CAQH).

The CAQH Index is the industry source for tracking health plan and healthcare provider adoption of electronic administrative transactions for both medical and dental care. It calculates the industry, health plan and provider cost savings opportunity and reports the time required for providers to complete common administrative transactions. These include verifying a patient's insurance coverage, sending and receiving payments, inquiring about the status of a claim and obtaining prior authorization for care. Medical and dental plans covering about half of commercially insured lives contributed data and insights for the report, as did a number of providers.

Keywords for this news article include: CAQH, Dentistry, Managed Care, Health and Medicine.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC