Administrative Costs Bringing Health Care Down
Tuesday, 11. August 2009
There has been much discussed and written recently about how cost control is a necessary component of health care reform. CNN recently highlighted the six primary sources of wasteful health care spending, which amount to a whopping $500 billion. Claims processing made the list — and for good reason.
As a medical billing software company that also functions as an approved clearinghouse of medical claims, Nuesoft witnesses first hand the administrative costs and inefficiencies related to claims adjudication. There are an estimated 6 billion medical claims filed each year by medical practices and hospitals. If every single one of those claims could be filed according to the exact same data protocols, with no payer specific differences for required fields; imagine the time and money that could be saved. By simply adding uniformity, transparency and clarity to the exchange of data between providers and payers, and leveling the playing field for all involved, we can vastly impact the system, and help medical providers divert resources away from administration and back toward activities that support patient care.