Electronic Transaction Cost Savings Report for Health Care Professionals
Significant savings are available to health care professionals who choose electronic over manual transactions.
The 2013 Council for Affordable Quality Healthcare (CAQH) U.S. Healthcare Efficiency Index® (Index) tracks and reports progress by the health care industry in its ongoing transition from manual to electronic administrative transactions. It also calculates savings the health care industry could obtain by adopting electronic administrative transactions. Based on the Index calculations, CAQH estimates health care professionals and facilities could save:
- More than $3.5 billion from electronic eligibility verification processes
- Approximately $1.5 billion using electronic prior authorization transactions
- An additional $1.7 billion from electronic claim submission, claim payment, claim inquiry, and remittance advice processes