• The majority of claims still require manual intervention creating a high incidence of costly human error.
• Many claims are not “clean” the first few times they are submitted. This causes sky-rocketing administrative costs and long delays in payment.
• The archaic, inefficient way that claims are handled necessitates the cost for billing companies, clearing houses, A/R financing companies, collection agencies, etc.
• There is no incentive for a patient to secure the lowest cost for care.
• There is no financial incentive for healthy lifestyle choices.
• Added layers of cost, due to all previous factors, force Providers to raise rates only to realize lower profit margins . . . charge more but earn less.
• Many Providers are electing to not treat Medicare / Medicaid patients. It is simply not financially viable for them to do so.