Sushil Ghorpade
The healthcare system in America is complex and oftentimes inefficient. There are various types of healthcare claims submitted in the United States each year. The Centers for Medicare and Medicaid Services (CMS) estimates that approximately 30 million outpatient visits to physicians and over 12 million Medicare Part A and B claims are submitted each year.
Furthermore, a recent study by the National Committee on Quality Assurance (NCQA) found that on average, 8.5% of all claims submitted to private insurers contained errors. The NCQA study also found that the error rate for claims submitted to Medicare was even higher at 10.1%. Medicaid claims were found to have the highest error rate of all at 11.4%.
That’s over 1.3 million erroneous claims filed each year!
A large part of the reason for this is the way healthcare claims are processed. The current system is time-consuming, manually intensive, and error-prone.
This is where PCH Global comes in.
PCH Global is a unified platform that streamlines the submission and tracking of healthcare claims, appeals, attachments, and other paper documents.
This digital system is easy to use, accessible from any computing device, and offers several excellent benefits.
Benefits of Using PCH Global to Submit Healthcare Paper Claims Digitally
- Digitally Managed Processes:
All your claims, appeals, correspondence, and tasks will be securely managed in one place. You no longer have to worry about misplacing important documents or forgetting to follow up on tasks. Your documents will be automatically stored in the correct location, making it easy for you to access them when needed.
- Faster Payments:
The PCH Global system is designed to speed up the healthcare paper claims and appeals processes. By digitizing the submission and tracking of healthcare claims and appeals, PCH Global reduces the time taken to receive payments. It is easy to use, designed to help you work more efficiently, and guide you through the healthcare claims process step-by-step. For our Exclusive Plans, you have the option to submit your healthcare claims digitally, which means that you expedite the process and receive payments 7-14 days quicker than the usual print-and-mail process!
- Reduced Potential Revenue Loss:
We learned earlier that over 1.3 million erroneous claims are filed each year in the United States - that’s over a thousand incorrect claims filed per 10,000 claims submitted! Moreover, research shows that almost 2% of all revenue is lost due to loss of claims and filing delays caused by inefficient legacy processes like print-and-mail. PCH Global’s system is designed to help you avoid potential revenue loss by reducing the number of errors contained in your healthcare paper claims.
- Reduced Loss of Claims:
According to the NCQA study, the average error rate for claims submitted to private insurers is 8.5%. This means that, on average, 8.5% of all claims are either never received by insurers or are submitted incorrectly. This can result in a significant loss of revenue for healthcare providers. The PCH Global system is designed to reduce the loss of claims by implementing robust audit trails to track correspondence and securely store all documents in one place for automatic routing.
- Swifter Claim Filing:
By digitizing the submission and tracking of healthcare paper claims, PCH Global also reduces the time it takes to file a claim. In fact, our research data shows that you can expect to file and submit claims in almost half the time it takes to file and submit using pen and paper.
- Enhanced Transparency and Accuracy:
With PCH Global, you will have real-time visibility into the status of every claim, every time. You will also be able to track the progress of your claims and identify any errors that may have occurred during the submission process. This transparency and accuracy will help you avoid delays in payments and denials of claims.
- Reliable Solutions for Other Plans:
Exela Technologies is a world-class provider of printing, storage, and mailing technology. Over 30 years of expertise in this domain allows us to print and mail your healthcare claims, appeals, or attachments to any health plan PO Box in the US – overnight! Just upload your documents to PCH Global, and we leverage our technology to print, pack, and mail.
How Does PCH Global Help Businesses Succeed?
- Faster Approvals:
A new and improved first-pass rate with system prompts discourages incomplete healthcare claims submission. This system makes sure claims are submitted accurately the first time. In the end, the better the accuracy of claims submitted, the faster they get processed and approved.
- Increase in Revenue:
A reduced rate of rejection that could be caused due to improper documentation and loss of records in transit helps decrease the loss of claims and increases your revenue.
- Increased Transparency and Accuracy:
Meticulously designed workflows cement loopholes within the patient-provider-plan ecosystem. This results in seamless workflows that increase accuracy along with transparency.
- Reduced Administrative Costs:
Automated processes and real-time status access promote the concept of self-help. Self-help, combined with the fact that you can digitally submit claims from anywhere, saves you the cost of purchasing manpower, expertise, and office supplies.
- Superior AI Data Management Functions:
PCH Global uses highly-sophisticated artificial intelligence and machine learning technology to extract and convert unstructured information into payer-recognized formats using OCR/ICR/OMR methodologies.
- Centralized Repository:
Using the latest technology and protocols in hardware, software, and networking, PCH Global offers an incorruptible and fully traceable digital assets repository to its users – accessible from anywhere, anytime.
- Secure Portal:
PCH Global allows you to correspond and transmit sensitive medical and financial records that are fully compliant with HIPAA guidelines and securely managed using the best industry standards.
Conclusion
PCH Global is the ideal platform to manage and submit all healthcare paper claims, appeals, and correspondence. It is an end-to-end solution that has the potential to save you both time and money while also maintaining a high level of accuracy and transparency. It makes the healthcare system in America more simple and more efficient.
Use our savings calculator to learn how much you’d save based on your document submission volume or try out PCH Global for free!
We’d love to hear from you.
Sources: google.com | en.wikipedia.org | reddit.com | lex.page (AI)
DISCLAIMER: The information on this site is for general information purposes only and is not intended to serve as legal advice. Laws governing the subject matter may change quickly and Exela cannot guarantee that all the information on this site is current or correct. Should you have specific legal questions about any of the information on this site, you should consult with a licensed attorney in your area.