The healthcare administrative industry faces daily challenges and increasingly high costs in the United States. With administrative costs making up 30% of all healthcare bills received, families are forced to negotiate their daily needs, health and overall well-being. Having incomplete or inaccurate insurance information only adds additional stress to families who are already facing difficult medical events. As a healthcare company, our team at Signature Performance is an industry leader in reducing healthcare administration costs for public and private healthcare sectors. Our experience in serving both the payer and provider side of healthcare financial management allows us to implement innovative solutions for every administrative demand.
Signature Performance Impacts Healthcare Through eOHI
Our electronic other health insurance (eOHI) discovery solution process provides another avenue for the waste within the Federal healthcare system to be reduced. Our eOHI solution supports the coordination of benefits between Medicare and other health insurance for payers and/or providers by creating an automated process to determine the beneficiary health insurance policy coverage, which greatly improves medical claims processing quality. Being able to identify the highest volume of billable OHI policies, ensures accurate and complete third-party insurance information. Our discovery engine allows for the collection of timely and accurate insurance information through a seamless identification and verification process. Our system also allows for increased transparency, false positive prevention, match verification, and validates insurance policy information for claims to be either billed and/or paid correctly.
Our team has been working closely with Federal healthcare agencies and third-party administrative firms to help identify other potential health insurance, allowing the responsible insurance to pay the claim. For a current client, our process and technology is helping our average OHI hit rate to exceed 25%. Other, less advanced, processes and technologies are only averaging between three and five percent as an industry average.
We Can Alleviate Healthcare Administrative Burdens
Signature Performance is improving not only our clients’ business, but the entire healthcare industry by finding better ways to leverage technology, talented people, and industry-leading processes to identify additional insurance, and at the end of the day, lowering the cost of healthcare administration. Our extensive track record over the last 15 years proves we can tackle any administrative burden with a thoughtful approach, while improving the overall workflow with a customized design.
Dawn Wierzbicki is the Senior Vice President of Partner Engagement at Signature Performance Inc., in Omaha NE. Signature Performance is an industry leader in reducing healthcare administration costs for private and public healthcare sectors. Our unmatched experience in serving both the payer and provider side of healthcare financial management allows us to implement innovative solutions for every administrative demand.