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MedBen 's Claims Accuracy Far Exceeds The National Average

06/21/13

  05:03:51 pm, by MedBen5   , 214 words,  
Categories: News, Health Plan Management

MedBen 's Claims Accuracy Far Exceeds The National Average

The national average of claims incorrectly processed by heath plans dropped to 7.1% in 2013, according to a new National Health Insurer Report Card released by the American Medical Association (AMA). It contines a trend of falling inaccuracy rates, from more than 19% in 2011 to 9.5% last year.

The timeliness of medical claims processed has also improved by 17% since the AMA first started its report card in 2008.

MedPage Today reports that, based on AMA estimates, processing claims accurately and expediently could have saved more that $43 billion since 2010. Administrative waste also accounted for billions of dollars lost in that period.

At MedBen, we recognize the importance of getting claims paid right the first time, and getting them processed quickly. Our proprietary claims software conducts over 400 automatic checks, keeping a virtual eye peeled for inconsistencies and errors. The software also “rebundles” miscoded claims and coordinates benefits with other insurance companies.

Independent CPAs review every procedure related to MedBen’s claims operating system, and have repeatedly reported no findings in annual SSAE 16 audits. In addition, internal staff members review 5% of each examiner’s claims every day – a level unmatched by other health benefits managers.

And how does MedBen’s claims processing abilities compare to the national average? In 2012, we had a 99.6% accuracy rating. Moreover, 97.2% of claims were handled within 15 days of receipt.

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