Outsourcing workflows versus handling healthcare processes in-house is a major decision healthcare IT leaders have to make. On the one hand, in-house processing ensures full control over information and security. On the other hand, outsourcing workflows results in faster completion and fewer errors. If you’re considering outsourcing, one of the best ways to start is to identify and test specific portions of your workflow that could benefit from intervention to determine potential outcomes.
While it’s typical to work with 834 file formats, not every employer group can receive them. This results in a variety of different file formats containing enrollment information, and tedious time spent sorting through documents.
Partnering with a provider such as Smart Data Solutions for enrollment processing lifts this burden from in-house teams, resulting in more accurate 834s with faster turnaround times. Our in-house technology experts work with any system—even legacy ones—to lift and shift enrollment, no matter what software you’re currently using.
1. Reduced administrative tasks lead to higher revenue.
Healthcare leaders are starting to see the connection between administrative tasks and lost revenue. Healthcare processing workflows take time and manual effort to complete, which results in bloated tasks and increasing costs every step of the way.
A 2020 index report by the California Association for Healthcare Quality (CAQH) summarized the spending as, “Of the $372 billion spent on administrative complexity in the United States healthcare system, $39 billion, or 10 percent, is spent conducting administrative transactions.”
When healthcare Providers outsource and automate these administrative processes, they realize significant cost savings from less manual labor and a more efficient workflow.
2. Accurate data upstream means fewer errors downstream.
Errors in data are more costly to fix when they’re caught downstream in the RCM process versus remediating them instantly. Machine learning and automation are two ways that technology partners catch errors the moment they happen to prevent downstream issues.
3. Consistently formatted documents lead to better standardization of workflows.
One of the biggest barriers in the healthcare industry is the lack of standardization in business processes. Take EOP to 835 for example. 835s are electronic files, but not all Providers have the ability to receive them. Medical service providers work with different systems, requirements, forms, and processes, which creates more tedious paperwork for in-house staff.
When healthcare IT teams outsource workflows such as enrollments, vendors such as Smart Data Solutions can bring standardized processing to nearly any document format. For enrollments, this is typically an 834 file, but a strong partner will be able to deliver on any requirements needed.
When looking to improve your workflow, enrollment processing is a smart place to start. Working with a vendor to streamline enrollments means faster, more accurate workflows as a whole.
Today, more than 400 TPAs, PPOs, HMOs, hospitals, and insurance companies depend on Smart Data Solutions’ technology and innovations to save money and streamline their business operations. We have the ability to integrate into your current systems and meet you where you are to bring momentum to enrollment processing.
Learn more about our enrollment solutions and get answers to questions people frequently ask when researching enrollments.