Physician practices seeking to improve efficiency and accuracy of billing and collections by reducing claim denials should focus on using big data and predictive analytics, according to Karun Philip, PhD, president and co-founder of healthcare technology company Tranquilmoney.
“Big data analytics can find data patterns such as causes of insurance claim rejections, strategies to follow and so on,” Dr. Philip stated. “This helps providers submit accurate claims as often as possible, allowing the reduced number of manual interventions to be more productive.” He said big data can simplify and improve accuracy in the billing process by identifying medically necessary and completed procedures.
Author: Kelly Gooch
Leave a Reply