“Health care claim payment accuracy and fraud prevention is critical to effective management of medical loss ratios as well as provider and member satisfaction. Health care fraud remains one of the most costly crimes of these days and a challenge for all insurers. It is often referred to as the “biggest and most overlooked factors in the rising cost of health care. According to government estimates, fraud in programs like Medicare and Medicaid costs taxpayers $80 billion a year, with some estimates as high as twice that amount. A federal fraud crackdown, some of it mandated by the Affordable Care Act, has made a dent in the problem, but the record $4.1 billion recovered in 2011 is a small fraction of the total”. In addition, outdated and incorrect provider data costs the healthcare industry more than $26 billion every year.”¹ Technosoft recognizes the need to reduce these expenses and offers IT enabled, outsourcing models to assist clients in meeting administrative challenges of maintaining accurate provider data. Technosoft provides Integrated Health Care Solutions which provides clients with executive consulting, technology enabled services, and cost effective service teams to deliver integrated solutions to partner customers.
According to Catherine Woods (Vice President-Healthcare Services, Technosoft Corporation)