The healthcare industry continues to make modest progress toward full adoption of electronic business transactions, but significant gaps remain, representing an opportunity for $9.4 billion in savings, according to new data from the 2016 CAQH Index.
The fourth annual CAQH Index measures adoption, costs and, for the first time, provider labor time associated with the most common administrative transactions conducted between health plans and providers. These include verifying a patient’s insurance coverage, sending and receiving payment, inquiring about the status of a claim and obtaining prior authorization for care.
