Session #: 81805-xh
Presenter(s): Ted Waz, Ragui Selwanes
Session Length: 1hr. 45 min.
Event: HFMA 2008 Audio Webcast Date: 2-07-08
Healthcare providers face highly fragmented and manual processes associated with receiving and reconciling payments. The administrative cost and fees related to lockbox/check clearing services, denial management, payment posting and reconciliation creates a significant burden. As consumerism in healthcare grows and healthcare financial administration becomes more complex, providers will need to adopt electronic methods to receive and reconcile claims payments. By adopting electronic methods to receive and reconcile claims payments, substantial savings are possible for providers — by some estimates, as much as $35 billion per year.
To realize such benefits, providers will begin to leverage technology to eliminate paper from the revenue cycle - especially in the reimbursement and payment reconciliation areas.
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