More than 130 leaders from health plans across the United States responded to HealthEdge’s Jan. 2014 “State of the Payor” industry survey. As a company that offers business process automation solutions, we were particularly interested in question #4 (below), which shows that 81.3% of surveyed payors believe it would significantly reduce their administrative costs to “automate existing business processes” and 55.5% believed it would help to “increase auto-adjudication rates.”
HCIM’s SymKey application streamlines business processes by automating manual workflows and increasing auto-adjudication within your existing claims system. And with a go-live in less than three days, it’s certainly quicker to implement and more cost-effective than transitioning to a new core claims transaction system. For more information click here.
| 4. Which of the following factors do you feel would have a significant impact on reducing administrative costs at your organization? Please check all that apply. | |
| Answer Options | Response Percent |
| Automate existing manual business processes | 81.3% |
| Increase auto-adjudication rates | 55.5% |
| Outsource/BPO | 12.5% |
| My organization does not need to reduce administrative costs | 10.9% |
| Other | 6.3% |
| 7. What percentage of your claims are currently adjudicated automatically? | |
| Answer Options | Response Percent |
| Less than 60% | 26.1% |
| Between 60% and 70% | 14.3% |
| Between 70% and 80% | 21% |
| Between 80% and 90% | 25.2% |
| Greater than 90% | 13.4% |
| 8. What is the approximate cost of adjudicating a claim manually at your organization? | |
| Answer Options | Response Percent |
| Less than $6 per claim | 38.7% |
| Approximately $6 per claim | 14.3% |
| Approximately $7 per claim | 13.4% |
| Approximately $8 per claim | 16.8% |
| Approximately $9 per claim | 4.2% |
| Greater than $9 per claim | 12.6% |
To request the full results or learn more information about the survey, please visit http://www.healthedge.com/resources/state-of-the-payor-industry-survey.