8 Key Areas Representing $13.3B in Cost Saving Opportunities for Healthcare Administration
by Scott Overholt, Director of Business Development, Vyne Medical
Scott Overholt, Director of Business Development, Vyne Medical
According to the 2020 CAQH Index report, an annual report published by the Council for Affordable Quality Healthcare, a study of eight key transactional areas revealed opportunities for cost savings totaling $13.3 billion for medical providers and plans willing to move to fully electronic administrative processes. The CAQH report examined eight key transactions: Eligibility and Benefit Verification, Prior Authorization, Claim Submission, Attachments, Coordination of Benefits, Claim Status Inquiry, Claim Payment, and Remittance Advice.
1. Eligibility and benefit verification