Automated Claims Processing and Its Business Benefits

Automated claims processing refers to the adoption of technology to manage various claims at a speed and accuracy level that cannot be matched otherwise by human intervention.

From integrated data to performance insights, payers can rely on automation to enhance transparency, accuracy, compliance, efficiency, and improve overall business performance.

Getting started with automated claims processing can be daunting. This new technology must be able to meet business needs and help your team thrive in the new age of technology.

With that in mind, let’s find out why automated claims processing makes all the difference:

Efficiency, accuracy, and speed

Manual claims handling is time consuming, expensive, and unreliable for payers. The American Medical Association (AMA) reports that 1 out of 5 medical claims submitted are processed inadequately, leading to lower reimbursements for providers and even denials.

By automating your claims processing, you can save up more time to focus on tasks that add more value to your organization. You’ll have more time to identify missing or incorrect information in real time, analize mountains of unstructured data at the speed of innovation, and make reimbursement decisions with the highest level of accuracy.

Insightful Auditing
Getting a detailed view of the various activities happening across your organization is paramount. With more than 91 percent of Americans purchasing health coverage in 2020, your team cannot afford to be stuck with rudimentary, labor-intensive methods to monitor and optimize claims performance. 

The right automation tool offers reliable data analytics and the right search capabilities to pull up reports featuring the most relevant metrics, enabling your team to measure success and make the required changes to anticipate future needs.

Increased job satisfaction
Statistics show that 73 percent of IT experts believe that automation saves your team up to 50 percent of the time spent on performing mundane, repetitive tasks, which is conducive to job satisfaction.

Once your team finds more time to focus on tasks that add more value to the business or acquire new skills to improve the customer experience, you’ll be creating a better work environment for your team, reducing the risk of employee burnout.

Better data protection
As established by HIPAA, patient information must remain under strict confidentiality, allowing only authorized personnel to manage sensitive data when working with a patient. This regulation increases pressure on healthcare organizations that rely on legacy systems to process claims.

By transitioning to an automated claims management system, your team can ensure information remains secure and inaccessible to the wrong users, blocking data breaches, penalties, and other damages that could tarnish the reputation of your organization.

We are in the age of inevitable automation. Patients are now expecting faster experiences in an industry where inefficiencies are still the common denominator.

So, what is your business doing to maximize efficiency in the digital age?

If you are looking for the best way to drive your healthcare organization to the next level of automation, then let us introduce you to our comprehensive, value-based healthcare administrative system: QuickCap v7.0.

Our solution features all the capabilities you need to thrive in the new era of claims management. With its innovative interface, QuickCap enables your team to process claims with unrivaled speed and greater accuracy.

Not only are we providing a better, faster, and smarter automated claims processing system, but also future-proofing your organization with streamlined workflows, improved revenue cycles, and rewarding patient journeys.

Ready to leap your organization to the next level of efficiency?