When It’s Your Money, How Much Error is Okay?
Your bank called. They have adopted a 1 to 3% acceptable error rate for your account because 100% accuracy is no longer important. Oh, and by the way, they are going to keep the money they mistakenly cost you! Um, what??
This scenario is what you agree to when you assume your healthcare claims are being paid with 100% accuracy. In fact, healthcare is the only industry where this error rate is accepted, and it can cost self-insured employers thousands and thousands of dollars each year. By implementing an annual healthcare claims audit, benefits managers have an opportunity to become bottom-line contributors.
The DIFFERENCE is in KNOWING.
- There is no built-in system your claims payor uses to ensure 100% accuracy. The fiduciary responsibility is yours, not theirs.
- Your company could be losing money from claims payment errors every single day.
- An annual comprehensive audit will ensure you recoup money that is rightfully yours.
Ask yourself if your boss would accept this error rate. If not, get in touch with us to find out more about implementing an annual comprehensive healthcare claims audit at your company.
When Close Enough isn’t, choose our 100% Difference.
Visit Healthcare Horizons today to learn more, or contact us at hhadmin@healthcarehorizons.com to discuss a healthcare claims audit assessment.
Randy King is president of Healthcare Horizons Consulting Group, Inc., which has performed healthcare claims audits since 1999. Trusted partner. Uncompromising accuracy. Superior personal service. Recovering millions of dollars for some of the world’s largest employers.