Hospital insurance processing software improves cashflow
Hospital Insurance processing – Many hospitals are stuck in the endless loop of hospital insurance processing routines. Delayed pre-approvals, late payments, and untrained staff result in poor cash flow, bank overdrafts. Here is a solution that will reduce hospital insurance processing from weeks to hours.
In the current scenario, health insurance has become a necessity for everyone due to double-digit medical inflation. With a growing number of insurance patients and health insurance providers, effective insurance management has become a real headache for hospitals nowadays. Various identified grouses in the insurance processing include delay in payment of claims, rejection of claims and partial payments, insurance backlogs, more paperwork and processing for the hospital back office, and TPA’s delaying the process.
Hospital insurance processing – claims management made easy
Our well-established, industry-proven Vikas 2.0 integrated hospital management system modules offers a comprehensive insurance processing module that integrates treatment, claims, approvals, and payment to enable hospitals to streamline TPA-related activities. Our recent research works with blockchain-enabled system for fast and reliable claims experience for all insurance stakeholders through digitization of medical insurance processing, smart contracts, and real-time information sharing. This integration can bring about a huge disruption in the insurance and claims processing industry whereby an insurance patient who normally exits the hospital after 8-10 hours of initiating discharge will be processed within 30 minutes and hospitals who suffer from long insurance outstanding periods will receive payments within 24 hours of patient discharge.
Features of Integrated hospital insurance processing claims module
- Completely automated claims submission and processing
- Blockchain-based Insurance Claims Management Platform
- Secured Data Sharing with privacy protection
- Error-free claim submission through cross-verification methodologies
- Automatically populate claims data into dashboards and reports
- Real-time analytics and Status Check
- Close monitoring & management of account receivables
- Real-time notifications as to pending registration/payments/denials.
Benefits of Integrated insurance module
- Reduce claims processing time by 80% on average
- Speedier resolution of claims and faster claim settlements
- Bring transparency and Increased trust in Claims Process
- Clarity on Payments and reduced claim related disputes
- Reduced operational cost and overheads
- Quick Patient Turn-Around
- Real-time updates for all stakeholders at each stage of claim processing
- Improved customer experience and satisfaction
