Report: Fully Adopting Transactions Standards Could Save $9.8 Billion a Year

The US healthcare system continues to make progress automating business transactions, but could save an additional $9.8 billion annually if providers and health plans fully adopted certain electronic transactions, according to the latest annual CAQH Index. Based on voluntary surveys of medical and dental health plans and providers, the index measures adoption, costs and provider labor time associated with common administrative transactions conducted between health plans and providers. These include verifying a patient’s insurance coverage, obtaining authorization for care, submitting a claim and supplemental medical information, and sending and receiving payments.