One-third of healthcare administrative spending could be automated and save $13.3 billion, according to a report by CAQH.
In fact, $40.6 billion out of the $350 billion of administrative healthcare costs is attributed to just eight transactions. Of that $40.6 billion, automation can further savings, saving $13.3 billion.
“While a greater percentage of business transactions are now conducted electronically, the U.S. continues to spend more on healthcare administration than any other nation,” Kristine Burnaska, director of research and measurement at CAQH, said in a statement.
The findings were published in the 2019 CAQH Index, which outlines the potential savings and efficiencies of automation in healthcare and measures progress in reducing administrative transaction costs and burdens in the medical and dental industries.