New age technology led Automated Policy Renewal
To thrive in today’s insurance marketplace, insurers need to offer differentiated products, available through numerous channels, to customers who want convenience and personalized service. At the same time, insurers need to bring down costs, closely manage risks, and ensure compliance with a dizzying array of regulations.
Exdion Policy Checking on Demand (ePOD)
The Insurers, brokers and agencies are experiencing double whammy. They face the mammoth task of generating returns when the premiums are falling and claims are rising. Industry is witnessing newer engagement models driven by technology innovation.
Using AI to enhance Revenue Cycle Management
For billing companies, right tools and process accurately and efficiently bill patients for the service availed is a huge challenge. Often, companies face revenue leakages due to human errors, inadequate controls, broken process and ineffective operations.
How RPA can boost Medical Billing Companies
RCM is highly repetitive, amenable for operating procedure often managed manually. Hence, RCM suffers human errors, absenteeism, and inability to scale up and down depending upon the demand. McKinsey & Company has reported that more than one-third of tasks in the billing industry could be automated, enhancing efficiency.
Comparing and Understanding Business Insurance Quotes
When you receive multiple quotes from Exdion, rest be assured about providers' ratings or financial standing. We provide the snapshot with a comparison of various carrier quotes. So it’s easy for review and you get the coverage information in quick glance.
Modifier 22 Usage and Reimbursement
A modifier provides the means to report or indicate that a service or procedure that has been performed has been altered by some specific circumstance but not changed in its definition or code. Modifier 22 is for ‘Increased Procedural Services’ – which indicates that the procedure was much complicated and complex due to unusual anatomy, excessive bleeding, extensive scarring, or any other problems that require considerable additional time, effort or skill.
Save Costs and Improve Efficiency by Managing your Mailroom Tasks
As businesses grow, one of the challenges they face is the mountain of inbound documents and mails they receive from partners, clients and others. Processing them in a timely manner is required to ensure quick information access
How Brokers & Agents can lower their E&O Risk
Policy Checking is a process wherein a renewed policy is checked to guarantee that it matches against the proposal/prior term policy that was generated before renewal. If any variance exists these are noted by the Brokers to avoid any potential Errors &Omissions claims that may arise later.
Automate Revenue Cycle Management with RPA
Effective Revenue cycle management is key to sustainability and profitability of healthcare organizations. Billing companies bear the most brunt on revenue cycle leakages. Billing service providers do not have the process to prevent denials from falling through the cracks.
How Brokers can set themselves to compete better
How Brokers can set themselves to compete better
Last few years have seen quite a disruption in the insurance market. Direct insurance players have used emergent technologies to not only increase their market reach but also disintermediate brokers, particularly in the personal lines business…
As MACRA Implementation Proceeds, Changes Are Needed
The Medicare Access and Chip Reauthorization Act (MACRA) was signed into law on April 16, 2015. The legislation, as originally perceived, had three fundamental goals. The first goal was to rescind the Sustainable Growth Rate (SGR) physician payment formula, a major source of uncertainty and instability for more than a decade. This legislation did that. The second objective was to alleviate physician payments to give providers respite from the annual and at times more frequent, threats of substan
How insurance players can benefit from ePLMM© Policy Lifecycle Maturity Audits
Association of British Insurers (ABI) reports that revenue leakage is the principal component of an insurer’s expense base. FBI estimates that insurance fraud costs about $40 billion per year, which raises the average annual premium for consumers by an estimated $400 to $700.
How proper documentation can maximize 3d reimbursement
Computed Tomography Angiography (CTA or CT Angiography) is a less invasive technique used in Radiology to visualize arteries and veins. It gives more precise anatomical details of blood vessels when compared to MRI or US study or even ordinary CT.
Finding and fixing your business leveraging eARMM
Finding and fixing your business leveraging eARMM©?
Revenue cycle management (RCM) starts with the moment a patient calls to seek an appointment and ends when all outstanding payments are collected. Health care organizations find inadequate information capture at preceding stages and islands of systems causing rework, efficiency losses and revenue realization.
The Paradigm Shift of American Healthcare Obamacare to Trumpcare
As the new American Health Care Act is being pushed through the desks for implementations, people of America await the new reforms made by the Trumpcare. The consequence and conditions of the Act had been a topic of debate in the healthcare industry and among the people.
Business Insurance Loss Runs Explained!
Liability claims should never be handled by your firm except if you have in-house advice to manage claims incidents. These stages can help save your firm thousands of dollars while maintaining good rates and producing loss-run reports that are viewed constructively during the application and renewal process.
Know About Multiple Endoscopy Rule
MPPR (Multiple Procedure Payer Reduction) rule is applicable when the same provider performs multiple related procedures (two or more) during the same session. Payers will reimburse only the highest RVU procedure at 100% of the fee schedule amount and will reduce the payment for the subsequent procedures by 50%.
Smart Operations to Achieve Lasting Success
Agencies can enable better decisions, pursue growth, and adapt to market contractions more nimbly when they apply best practices “into practice”.
Critical Issues Leading To Insurance Claim Denials
Providers are doing everything possible to submit clean, accurate claims to payers—yet denials persist.
Automation in Revenue Cycle Management Transforming Financial Performances
The revenue cycle actually touches nearly everything related to healthcare – from the time a patient books an appointment with a healthcare facility, until the patient and insurance company provide final payments for services rendered to the healthcare provider.
Revenue Cycle Analytics to Predict Denials
Revenue cycle management remains relatively elusive in the changing healthcare landscape. New regulations and reforms have led the industry to evolve and left many hospitals and health systems scrambling to protect their revenues in a value-based care environment.
A peek at Trump Care. Likely trends to emerge in 2017 & beyond
A lot has been said and written about the US elections, Trump vs Hillary, with numerous predictions on what to expect when President Obama walks out. The topic still remains a sensationalized one. Amidst the speculations, here are a few of the most discussed topics!
DME Billing services, and You..!
The Durable Medical Equipment (DME) industry is a complex and ever-changing environment. Some DME providers process claims and have an internal billing department while others may outsource.