St. Paul, Minnesota – January 8, 2013 – The pressure to reduce claims processing costs is a growing concern among many businesses. While most cost-cutting opportunities seem complex and daunting, many of them are far easier than you’d think.
To increase operational efficiency and responsiveness, organizations are looking for ways to reduce the time, costs and headaches associated with business process automation. They need to increase electronic communication with minimum effort and be able to dynamically populate and process these transactions faster, easier and more accurately. Organizations want their transactions (regardless of medium) to adapt to their existing systems, rather than the other way around. They want to deliver transaction data where and when needed to everyone involved in business processes, both inside and outside the organization.
Smart Data Solutions is pleased to detail twelve things you can do to save time and money on claims and data processing. These ideas reflect the competencies and products we’ve built over more than ten years serving health care administrators and providers. In many cases, they are the basis for our comprehensive range of efficiency building products, each one capable of generating and sustaining substantial increases in productivity while decreasing costs. Implemented together or individually, they can help your business reach the goal of realizing new levels of efficiency.
1. Outsource your mailroom: By outsourcing your mailroom you can eliminate costs associated with mail receipt and internal processing, document preparation, scanning and data capture, reject processing, and facility and space requirements.
2. Consolidate your EDI Connectivity to Gain Direct Access: It’s no secret that multiple clearinghouse fees can add significant costs to claims processing. Increasingly, providers and payers are working to set up direct connections, but the process can be tricky. However, the end product can drive dramatic increases in efficiency, while speeding TAT and increasing your control over the process.
3. Outsource your Claims Data Capture: By outsourcing the scanning and data capture process, you can enable fast, efficient EDI claims processing without the inevitable internal glitches of doing it yourself.
4. Automate Eligibility and Enrollment Form Data Capture: Save time and money by automating scanning and processing of eligibility and enrollment forms. If you still rely on manual forms processing, you have real opportunities for savings.
5. Automate Data Capture for Other Forms: Automated data capture can streamline even your most cumbersome processes. Smart Data’s data capture processes provide industry-leading automation, ensuring you the easiest, fastest and most accurate form processing available. Our clients have saved more than 40% on processing costs by leveraging these solutions.
6. Expedite Image Archiving with a Tested Solution: Having consistent and structured access to all of your scanned images is key to saving time and money. Being able to access those images online, from anywhere, is an added convenience.
7. Automate your provider file matching with a Proven system: Provider file matching can be a daunting challenge. If you’re using a manual or an internal system, or even a poorly functioning vendor solution, you might be wasting both time and money. Smart Data Solutions SmartMatch offers personalized services and a customized implementation that is second to none.
8. Streamline Med Supp COBC Electronic Claim Delivery: The challenges facing Medicare providers are greater than they’ve ever been. Streamlining COBC claim delivery can save time and reduce costs by eliminating paper EOB processing, and by automatically identifying duplicate or incomplete claims.
9. Set up employer and Member portals to facilitate information exchange: Portals can expedite and automate information sharing, saving you staff and increasing user satisfaction and data accuracy. Smart Data builds customized employer and member portals that have been proven to streamline data processing and save time and money.
10. Offer provider portals to facilitate direct claims entry and inquiry: Provider portals can generate significant savings in administrative costs while increasing provider satisfaction. You’ll reduce the time spent processing payment inquiries, as the system expedites transactions and reporting.
11. Outsource internal workflows: Smart Data frequently leverages its workflow documentation tools to help create more efficient, outsourced processes.
12. Outsource labor intensive tasks: Efficiency experts have long recognized the utility of outsourcing labor intensive tasks to lower cost. In addition, such resources are usually able to provide high availability with little or no notice. The opportunities for cost savings through outsourcing are tremendous.
Let Smart Data help your organization cut costs and streamline this year. From paper processing to claims management and EDI, Smart Data Solutions offers the solutions critically needed by today’s health care industry. For more information about Smart Data Solutions please visit our website at www.smart-data-