Automated systems to verify patient insurance eligibility and benefits information could significantly reduce administrative costs for both, according to a recent survey of health insurance plans and providers conducted by CAQH and supported by the California HealthCare Foundation's (CHCF).
By moving from labor-intensive verification methods to automated HIPAA transactions, providers may reduce labor costs associated with verifying insurance coverage by as much as 50 percent, according to study findings.
The survey was part of CAQH's Committee on Operating Rules for Information Exchange (CORE) initiative. CAQH recently initiated a second CORE research project to quantify the cost impact on providers and health plans when patients do not provide health insurance identification numbers or when those ID numbers are later determined to be inaccurate.
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