Current regulatory and financial environments require payers and providers to operate with greater transparency, accountability and efficiency. Implementing an appropriate data technology solution will address these issues by providing real time information to prioritize resources and stem errant claims.
A clear understanding of the scope and root cause of payment variances can be attained by assessing the quality of raw data and scouring claims. Payers and providers are looking for ways to optimize business intelligence. Business leaders are pursuing data analytics solutions that can perform reconciliation for all claims, regardless of size. Real time capabilities to review claims, identify those that are errant, flag and document their root cause of errors will drastically diminish payment variances.
Progressive payers and providers using data analytics gain the ability to understand and aggregate disparate claim data. The shift to automated processes for claim payment verification customized reporting and validation allows teams to focus upon specific actions required to eliminate the identified causes.
Successful and seamless implementation of a data technology solution will ultimately improve efficiencies that positively impact the revenue cycle.
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