In a May 2014 article published on HealthCarePayerNews.com, Discovery Health Partners’ COO Paul Vosters explored the six secrets to improving cost containment results for health insurance payers. Here is an excerpt from his article:
Healthcare payers have made great strides to improve claims errors and drive down costs. The AMA’s 2013 National Health Insurer Report Card recently found a significant reduction in the claims error rate to an average of seven percent among the nation’s largest commercial health insurers. But there is still work to do.
Even a seven percent error rate leads to billions of dollars in waste. And while legislative mandates such as health insurance exchanges, electronic health records, and ICD-10, promise to introduce many improvements to the system, they bring along the potential for increased errors – and increased costs.
Whether your organization is focused on further driving down costs or minimizing the risk associated with regulatory mandates, now is an ideal time to fortify your cost containment programs with improved processes, modern tools, and a focused, expert staff.
- Identify claims aberrations faster and more accurately with a data-driven cost containment application
- Improve transparency with an automated workflow or case management tool
- Access new technology cost-effectively with cloud applications
- Reduce downstream problems when you get eligibility right from the start
- Assemble a dedicated team supported by your technology
- Look at the big picture