The cost of manual healthcare administrative activities continues to be a burden for plans, providers and vendors, but the industry has also made progress in a number of areas. Join the CAQH Index team on Thursday, January 23rd to learn about:
Be part of the leading industry source for tracking health plan and provider adoption of fully electronic administrative transactions.
Recently, the 2018 CAQH Index study revealed that the healthcare industry could save $12.4 billion by transitioning from manual to electronic processes. These critical findings are made possible by voluntary participation from providers and health plans who help to provide a comprehensive view of common business processes across the industry.
Of the many business transactions measured in the 2018 CAQH Index, claims status inquiries offer the healthcare system the greatest per-transaction opportunity for cost savings. Despite fewer claim status inquiries occurring overall compared to the prior year, a significant savings opportunity remains because the transaction is highly inefficient when not conducted electronically.
The latest CAQH Index report shows that the healthcare industry continues to make progress toward automating business processes as the number of transactions increases. The sixth annual CAQH Index, released earlier this month, is the industry standard for tracking health plan and provider adoption of fully electronic administrative transactions. The report provides insights into how the business of healthcare is changing, calls for greater industry collaboration and identifies opportunities for cost savings. Major takeaways include:
The healthcare industry has made moderate progress in the adoption of electronic business transactions, but significant savings potential remains for healthcare providers and health plans, according to the 2017 CAQH Index released on June 14th. The fifth annual CAQH Index measures adoption, costs and provider labor time associated with the most common administrative transactions conducted between health plans and providers.
CAQH will be co-hosting a Twitter chat with Don Lee, the Executive Producer of the #HCBiz Show, on "The Cost Savings Opportunities on the Business Side of Healthcare." Join the conversation on Twitter by following the hashtag #hitsm.
Details will be announced shortly.
Administrative functions are a necessary component of the business of healthcare to ensure that consumers can access quality care and that providers are compensated for delivering that care. However, when the time and money spent on administrative functions is excessive, fewer resources are available for patient care.
After reporting mixed or only marginal gains for several years, how much progress did the 2017 CAQH Index find in the healthcare industry transition to electronic administrative transactions?
Join this CAQH Index webinar, in which the full report will be revealed publicly for the first time, for answers about:
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 transaction. The findings are compiled in the CAQH Index, the industry source on trends in adoption rates and cost savings associated with automation.
Are we doing all we can to maximize administrative savings in healthcare? What are the biggest opportunities to cut costs for healthcare providers, health plans and other industry stakeholders? Join our discussion with co-host Jane Sarasohn-Kahn, Health Populi blogger, on Twitter on Thursday, February 16th at 2pm ET by following #CAQHchat and using the hashtag in your tweets.
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