Report: Fully adopting transactions standards could save $16.3 billion a year
The U.S. health care system saves an estimated $122 billion annually by automating administrative transactions but could save $16.3 billion more by transitioning to fully electronic transactions, according to the latest annual .
Based on surveys of health plans and providers in 2019, before the COVID-19 pandemic, the index tracks automation, spending and savings opportunities for administrative transactions related to related to verifying insurance coverage, obtaining authorization for care, submitting a claim and supplemental information, and sending and receiving payments.
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