CAQH Calculator Estimates Electronic Health Plan Admin Cost Savings

"...organizations conducting electronic administrative transactions are reducing time-consuming manual processes and eliminating waste -- which translates into cost savings for your bottom line."

If you're not 100% electronic with your health plan administration already, do you have any idea how much your company could save by getting there?

CAQH, the Council for Affordable Quality Healthcare is a US non-profit organization that collaborates with healthcare providers, trade associations and insurers.to simplify healthcare administration, has created a calculator to help you estimate your potential savings.

The US Healthcare Efficiency Index ("Index") is tracking and measuring the transition from paper- and phone-based to electronic-based administrative transactions.  

They are finding that organizations conducting electronic administrative transactions are reducing time-consuming manual processes and eliminating waste -- which translates into cost savings for your bottom line.

"The calculator results will display cost savings related to converting entirely (100 percent) or partially (50, 25, and 10 percent) to electronic processing for each transaction."

Use CAQH's interactive calculator below to input your manual transaction volumes so you can estimate potential company cost savings that could be achieved by processing claims and other associated transactions electronically. 

The calculator results will display cost savings related to converting entirely (100 percent) or partially (50, 25, and 10 percent) to electronic processing for each transaction.

Before getting started with the calculator, you will want to identify one or more of the following transaction volumes being processed manually by your organization:

• Claim Submission
• Eligibility Verification
• Prior Authorization
• Claim Status
• Claim Payment
• Remittance Advice

CAQH Interactive Calculator

Savings are based on industry averages from the most recent Index report, as well as adjustments for the current state of the market, such as inflation, salaries and transaction costs.

The calculator returns estimated savings; results should not be considered actual savings. Data entered in the interactive calculator is neither stored nor tracked by the Index or CAQH.

Source: http://www.caqh.org/index_savingscalculator.php 7-25-14 "Estimate Potential Organizational Cost Savings: Transitioning to Electronic Administrative Transactions"