Researchers Call for Move to Online Health Care Payment Systems
A PWC report analyzing the medical billing and payment system of the US health care insurance payment system identified some less than glaring problems that have been plaguing the industry for decades. Although advances in technology and automation have reduced some of those frustrations, the harsh reality is medical billing is still a manual driven process.
The report speaks to suggestions to help streamline and ease much of the pain, but the truth is the insurance carriers do not benefit by automating their payment and overall claims process. Some insurance carriers instill tactics such as delayed check mailing to hold onto cash or to report income on their books in a different time period. The truth is that claim denials saves insurance carriers money especially if the provider is unable to resolve them in a timely manner. Remember, the the true stakeholder for the insurance companies are their shareholders first and foremost.