Year after year, one thing stays true in revenue cycle: claim denials continue to confound health systems, physicians, laboratories and pharmacies that depend on consistent cashflow.
In fact, denial rate is the No.1 performance metric by which claims management is measured, say our respondents from our recent State of Claims 2024 survey.
Frustratingly, more than half of denied claims are eventually overturned - but not before providers spend an average of $43.84 reworking each claim. The administrative tug-of-war with payers brings a substantial toll.
The Patient Access Curator streamlines patient access and billing, addressing claim denials, data quality, and real-time corrections to boost your business's bottom line.
38%
of respondents acknowledged that 10% or more of claims are denied
46%
say that missing or inaccurate data is one of the top three reasons for denials
To read the full survey, click here.
65%
state that submitting "clean" claims is more challenging than before the pandemic
Leverages artificial intelligence and machine learning to automate many of the tasks traditionally performed by human staff.
With just one click, users can verify and update all necessary patient information, drastically reducing the time and effort required to manage patient records.
Currently designed to integrate seamlessly with Epic EHR systems, making it an ideal solution for hospitals, health systems, laboratories, physician groups, and other healthcare organizations that use Epic.
Experian Health’s most robust revenue cycle solution
Automatically verifies patient eligibility and updates records in real-time, ensuring that all necessary information is correct before claims are submitted. It interrogates 271 responses to indicate any secondary or tertiary coverage data.
On-Demand Webinar
Our experts recap the revenue cycle management functions that are stuck in the past and reveal a more streamlined future that’s available now. You will learn how others are leveraging real-time, automated discovery from the start, which prevent denials in the end.
Find out with a custom Denial Analysis on your claims denials
Many organizations rely on reactive strategies, like appealing claims, which only address denials after they occur.
Traditional denial management resolves denials after they occur, but providers need a proactive strategy to prevent them by addressing root causes.
Experian Health has acquired Wave HDC, a healthcare tech company specializing in AI-driven data capture and curation, elevating claims management.
Experian Health’s State of Claims 2024 report reveals nearly 75% of respondents have seen an increase in claim denials.