The rising cost and complexity of claims management is a top concern for Health Plans. According to the American Medical Association (AMA), claims processing inefficiencies cost the healthcare industry between $21 billion and $210 billion each year. Even a small percentage increase in processing errors causes a disproportionate cost impact.
While these challenges present significant risks to Health Plans, they also create a unique opportunity to drive innovation and improve performance. Taking an intelligent, digital-first approach to back-end claims operations can lower costs by up to 30%.