There is widespread consensus that administrative costs in healthcare are excessive. By some estimates, more than $300 billion each year is spent conducting basic business transactions between healthcare providers and health plans. Much of this expense can be attributed to resource-intensive manual processes, such as phone calls to verify patient coverage or mailing claims and paper checks.
Each year, CAQH collects data from health plans and providers on the shift from manual to electronic business transactions. The findings are compiled in the CAQH Index, the industry source on trends in adoption rates and cost savings associated with automation.
The 2017 CAQH Index is based on surveys of healthcare providers and health plans representing approximately 155 million covered lives and more than 6 billion transactions conducted in 2016. For the third year, the report includes information on dental plans and providers.
The CAQH Index analyzes the most common business interactions between health plans and healthcare providers, including claim submission, eligibility and benefit verification, prior authorization, claim status inquiries, claim payment, remittance advice and coordination of benefits.
CAQH will host a webinar in early 2018 to review the latest Index findings, including how much progress health plans and providers have made toward using electronic transactions and the cost and time savings from the transition. The webinar will also address what actions the healthcare industry can take to accelerate progress.
Sign up now, and CAQH will inform you when the webinar date and time is announced.