Within the Fast–Track world of healthcare revenue cycle management, one recurring challenge continues to plague hospitals, physician practices, and billing companies: unidentified or inactive insurance coverage. Every year, providers leave billions of dollars uncollected due to the presence of missed or outdated patient insurance information. This is where Insurance Discovery Software comes into play—transforming how…
With over five billion medical claims processed annually, the healthcare industry faces immense pressure. As healthcare demand increases, the complexity of claims processing also increases, leading to significant challenges. Healthcare providers are overwhelmed by repetitive tasks, leaving little time for patient care, while insurers struggle with increasing claim denials and fraudulent activities. Those inefficiencies delay…
Ever feel like insurance verification is like a game of roulette? One wrong spin and suddenly, you’re dealing with denied claims, frustrated patients, and hours lost chasing paperwork. Hospitals and healthcare facilities have used manual verification processes for too long and the result? - delayed patient care and increased stress for staff. Did you know…
Managing insurance claims in the healthcare industry is often as challenging as delivering top-notch care for your patients. Whether you’re running a lab or a pharmacy, the burdens of claim denials, coding errors, and long reimbursement delays might be all too familiar. According to a survey by Experian Health, 70% of healthcare leaders stated that…
Automation is the key to success, says more than 80% of healthcare professionals, according to Cognizant’s 2023 Survey. Automation in healthcare is using AI-powered automated tools and software applications to boost productivity, streamline operations, and enhance communication. These systems help with patient scheduling, data management, and reminders. Its goal is to improve patient care, reduce…
In radiology, processes such as billing, insurance claims, submissions, follow-ups, denials, etc. are very time-consuming and labor-intensive along with the long line of patients and the tough treatment procedures. Prior Authorization is the icing on the cake, adding to your already full administrative burden. This process is intended to ensure appropriate care, but the challenges…
When we talk about Oncology and Cancer Treatments, the first thing that comes to mind is the urgency needed in care and the red tape involved in getting Prior Authorization (PA). According to a survey-based cross-sectional study done by JAMA Network, nearly 93% of the oncologists who responded say delays due to such reasons are…
Prior authorization is a crucial aspect of the healthcare revenue cycle management process. It ensures that patients receive the appropriate care and medications while minimizing healthcare costs. However, the prior authorization process can be time-consuming and prone to errors, which can result in denied claims and revenue loss. This is where prior auth automation comes…
Prior authorization (PA) is a process in which healthcare providers are required to obtain approval from insurance companies before performing certain procedures, prescribing medications, or ordering medical tests. While the intention of PA is to ensure appropriate use of healthcare services and control healthcare costs, it often imposes a significant administrative burden on healthcare providers.…
Prior authorization is a critical process in the healthcare industry, but it can also be time-consuming and frustrating for patients. Prior authorization automation is a solution that can help streamline the process, making it faster and more efficient for both patients and healthcare providers. Here are the top 10 benefits of prior auth automation for…