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A study by Kodiak Solutions shows that the denial rate from initial RFI’s has increased by nearly 9% since 2022. The first five months of 2024 had $6B in claims delayed across more than 1900 hospitals, which when prorated over the year would be $14.4B, versus $11B in 2022. This can reduce errors and expedite the claims process.
The current prior auth (PA) process is riddled with errors and inefficiency due to its reliance on manual dataentry. Denials and Revenue Loss According to SSI data, there has been a 53% increase in PA denials from the beginning of 2022 compared to the end of 2022. PRIOR AUTH IS A PROBLEM WORTH SOLVING 1.
Reboot Your RevenueCycle: Get Proactive with Prior Authorization Automation [HFMA Webinar Key Takeways]. December 16, 2022. Provides automated data exchange for secure, seamless access to payer, provider, and patient data combined with intelligent automation to eliminate mundane dataentry.
By eliminating the need for manual dataentry and relying on electronic systems to process requests, hospitals can minimize the risk of errors and ensure that all necessary information is captured and transmitted accurately. Just some minimal dataentry and go. Don’t forget about expertise and support.
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