The healthcare industry could save 33 percent, or $13.3 billion, on current spending each year if administrative tasks were automated, according to an analysis from the nonprofit CAQH.
For its report, CAQH reviewed automation, spending and savings opportunities among eight administrative transactions related to verifying patient insurance and cost sharing, preauthorization, claim submissions and payment processes.
CAQH found of the $13.3 billion in savings automation could bring, $9.9 billion in savings could come from medical plans and providers, while $3.4 billion could be realized in the dental industry. Providers would save more than health plans, according to CAQH.
For the full report, click here.
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