In today’s time, digital transformation has proved to be the catalyst of advancements in businesses. Many different industries are switching gears and taking processes online to cater to the increasing change in demands. In fact, a report published by the World Economic Forum suggested that embracing new technologies and rapidly transforming enterprises will set companies on course for success. Inevitably, the demonstrable benefits of these technologies supports greater adoption, and failure to invest in them will be fatal for many firms’ long-term prospects.
The rise in technological innovation has steered companies in the right route; towards digitalization. It is no surprise that more and more organizations in the healthcare industry are starting to integrate systems to better provide their services. Seeing how healthcare payer businesses run complex operations, it is critical to utilize a comprehensive platform and find the best one in the market.
Too many drawbacks can come from healthcare payer organizations who fail to reinforce technologies that are made to support them and their services. Besides the obvious that their business operations and management suffers, whole other aspects concerning security, space, accessibility, and cost are also being put on the line.
Bears risks in data theft and breaches
Unlike a heavily encrypted electronic system that is also guarded with a strong password, physical documents have poor security. An unauthorized person can easily get their hands on confidential information, posing a threat to data theft and breaches.
Takes up too much time and space
Manually managing claims is a time-consuming process. Volumes of claims take more than an hour to finish. In addition to that, handling claims in bulk leaves you with very little storage space, making it difficult to sort and move these documents from one place to another.
Gives zero flexibility in data changes
Documents that need to be edited require the original copy to be duplicated. It is not only a waste of resources, but it also makes a simple task more complicated.
Doubles the overall cost
Every resource you spend for documentation and record-keeping amounts to more expenditures than you can imagine. It is not practical to keep a manual management system if there is a better option that you can choose.
New technologies are created to make processes easier and convenient. That is why a centralized healthcare payer system, like the QuickCap 7 software must be introduced in payer organizations’ operations. QuickCap 7 provides an inventive solution to a recurring problem with manual processes and improves service quality and delivery.
A claims management system, just like the QuickCap 7 software, is a comprehensive claims processing platform designed to accommodate different claims types in one place. When you have a system like this, you can effectively manage claims, capture information, record file activity, access reports and correspondences, and do more with respect to claims, including the following:
Managing claims manually is not as efficient as it used to be. Payer companies are at risk of falling behind if they stick with the old, traditional ways. However, with reliable software like QuickCap 7, they can still get back on track and have the flexibility, security, and accessibility that they need to succeed.
Nowadays, no businesses can thrive without integrating new technologies into their processes. Many testimonies swore by the value of a single software and what it can contribute to growth and profitability. QuickCap 7 continues to live up to that same expectation, providing solutions to healthcare payer organizations and help simplify workflows with built-in systems that feature top-of-the-line functionalities like the following:
The QuickCap 7 software remains ahead of the curve in technology and solutions that guarantee an increase in productivity, accurate claims decisions, improve service delivery, and finished backlogs.
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SOC Certification Achievement
MedVision has successfully met the criteria outlined in the SOC (System and Organization Controls) audit for service organizations. This certification demonstrates MedVision’s adherence to rigorous standards for security, availability, processing integrity, confidentiality, and privacy.
As a service provider managing sensitive data and overseeing critical functions on behalf of clients, this certification underscores MedVision’s commitment to maintaining high standards of operational excellence and data security.
HITRUST Risk-Based 2-Year Certification Achiever
The Health Information Trust (HITRUST) is a standards organization dedicated to security, privacy, and risk management. They developed the HITRUST Common Security Framework (CSF), which assists organizations in maintaining a comprehensive and secure approach to HIPAA compliance and managing risks. HITRUST is widely recognized as the benchmark in data security and privacy.
Certified Member of HCAA
The Health Care Administrators Association is the nation's largest nonprofit trade association for third-party administrators, stop loss insurance carriers, managing general underwriters, audit firms, medical managers, technology organizations, pharmacy benefit managers, brokers/agents, human resource managers, and health care consultants. HCAA has spearheaded the change of self-funding for more than 35 years.
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