US Healthcare Efficiency Index Progress Report

The recently published US Healthcare Efficiency Index Progress Report finds that Eligibility and Claims Status have reached only 40% electronic utilization, Claim Remittance only 26% electronic utilization, and Claim Payment a very disappointing 10% electronic utilization. Claims achieve 75% electronic utilization, which is still low compared to other US industry segments.

The study calculates that the savings in paper only exceed $29 billion, not counting the billions in staff expense, error checking, error correction and rework. McKinsey calculates 2009 US healthcare cost at $2.5 trillion, with the cost to process and collect at 15% of revenue, or $375 billion.

Moving operations to the front of the revenue cycle, presenting accurate bills to patients prior to service, auto-populating EDI transactions into easy-to-use screens, and moving to straight-through processing is the key to revolutionizing the business of healthcare in the United States.

View the report here.