Streamline coordination of benefits (COB) for fewer claim denials
Experian Health | Healthcare Management Blog
by Kelly Nguyen
12h ago
Healthcare leaders often zero in on how uninsured rates affect their bottom line. But another patient group presents a quieter financial dilemma for providers: those with multiple active health plans. In these cases, it’s important to ensure each plan pays the right amount – in the right order. Should any confusion arise, providers may end up with their claims being denied, resulting in underpayments. This is where the coordination of benefits (COB) process comes in. What is coordination of benefits (COB) and why is it important? When a patient is covered by more than one plan, the “coordinat ..read more
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How medical insurance verification software can help healthcare organizations
Experian Health | Healthcare Management Blog
by Kelly Nguyen
3d ago
Discovering that a patient’s insurance doesn’t cover planned care is frustrating for patients and providers. With revenue and patient satisfaction on the line, verifying active coverage should be simple and efficient. However, the process often involves digging through an ever-expanding mountain of data, which consumes valuable time and resources. Increasing patient volumes, frequent payer updates, and new demands for pre-authorization all play a role. Additionally, the impact of nearly 12 million Americans losing Medicaid coverage since April 2023 adds to the challenge.  It’s unsurprisi ..read more
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Obliterate claim denials with a modernized patient access engine
Experian Health | Healthcare Management Blog
by Kelly Nguyen
5d ago
Labor shortages and the uptick in claim denials are undoubtedly putting heavy financial strain on healthcare providers. Could automated claim denial prevention help ease the pressure? In a recent webinar, Jason Considine, Chief Commercial Officer at Experian Health, and Jordan Levitt, Co-founder at Wave HDC (recently acquired by Experian Health), discussed strategies to tackle denials head-on in the coming year. This article summarizes the key insights, including a new automated one-click denial prevention tool that shifts denials management to the front end of the revenue cycle. 5 revenue cy ..read more
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Patient access technology: how it creates better patient experiences
Experian Health | Healthcare Management Blog
by Kelly Nguyen
1w ago
Patient expectations of their healthcare providers have changed. Today, patients expect providers to offer the same convenience as their favorite e-commerce site, with intuitive self-service options that put them in the driver’s seat. It’s a brave new world for healthcare providers, who know the patient experience is about more than providing quality care—it’s also about opening a digital front door with patient access technology. What do patients want from their healthcare providers? Experian Health’s State of Patient Access 2023 survey shed light on what healthcare customers want: 76% want ..read more
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Causes of healthcare staffing shortages and how technology can help
Experian Health | Healthcare Management Blog
by Kelly Nguyen
2w ago
There is growing concern that the healthcare industry needs more clinical and administrative staff to handle care demands. The crisis affects patients beyond treatment delays or lower care quality. Staff shortages in the revenue cycle create problems with patient engagement, billing, and collections. A recent Experian Health survey reveals unanimous concerns among providers about the challenges posed by workforce shortages. But what are the root causes of staffing shortages in healthcare? Is there a remedy for healthcare organizations struggling to find the talent they need? This article dive ..read more
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Patient Access Curator: everything to know about Experian Health’s latest acquisition
Experian Health | Healthcare Management Blog
by Kelly Nguyen
2w ago
In a strategic move that will take claims management to the next level, Experian Health recently acquired Wave HDC, a healthcare technology company specializing in AI-guided data capture and curation. The acquisition brings together the two companies’ capabilities to offer healthcare organizations faster and more accurate healthcare coverage identification. With this acquisition comes Patient Access Curator, a new solution that uses artificial intelligence (AI) to revolutionize the claims management process. Tom Cox, President at Experian Health, says, “With our vast clearinghouse data resour ..read more
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Four ways to use AI and automation in your revenue cycle
Experian Health | Healthcare Management Blog
by Experian Health
3w ago
Artificial intelligence (AI) and computer automation are finally beginning to impact healthcare. Payers are implementing generative AI to improve the customer experience. Researchers at Stanford use AI to review X-rays and detect pathologies in seconds.Today, AI and automation can remind patients about appointments and even provide a portion of their treatment via robotic surgery devices. While groundbreaking AI and automation technologies are in the news, adoption by the majority of healthcare providers has been slow despite research showing these tools could eliminate up to $360 billion in ..read more
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Experian Health brings Wave HDC’s AI claims technology to more hospitals
Experian Health | Healthcare Management Blog
by Kelly Nguyen
1M ago
The relationship between hospitals and payers has often carried an undercurrent of tension. Stacks of paperwork, complex claims rules and manual adjustments are a recipe for disrupted cash flow and time-consuming rework. With profit margins hanging in the balance, providers need the reimbursement process to move forward without a hitch. To the relief of revenue cycle managers, recent developments in digital technology are paving the way for more effective claims management. Case in point: Experian Health’s recent acquisition of Wave HDC, which brings together a suite of advanced patient regis ..read more
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Q&A: Contract management in healthcare – what’s ahead in 2024?
Experian Health | Healthcare Management Blog
by Kelly Nguyen
1M ago
Contracts govern the revenue cycle, but negotiating contracts and ensuring compliance can feel increasingly unmanageable as mergers and acquisitions, ongoing staffing challenges, and the sheer volume of contracts, plans, and provisions make contract management a massive project for healthcare providers. Tricia Ibrahim, Director of Product Management at Experian Health, shares her insights on a challenging environment heading into 2024. Providers are grappling with mounting complexity, an explosion of data, and continuing pressure to maximize efficiency and revenue. But, according to Ibrahim ..read more
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Experian Health ranked #1 in Best in KLAS for 2024
Experian Health | Healthcare Management Blog
by Kelly Nguyen
1M ago
Experian Health ranked #1 in Best In KLAS for our ClaimSource® claims management system and Contract Manager and Analysis product – for the second consecutive year. The rankings were revealed in the annual 2024 Best in KLAS Awards – Software and Services, published on February 7, 2024. The Awards recognize the top software and services vendors that are helping American healthcare professionals deliver the best possible patient care, based on feedback from thousands of providers. Experian Health topped the list in two categories: ClaimSource ranked #1 in Claims Management and Clearinghouse. T ..read more
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