HIMSSCast: Automation and data are removing administrative waste

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Better data helps providers, payers and patients, said Eric Demers, CEO of Madaket, which aims to take waste out of healthcare administration. 

More data allows for greater digitization of patient information and there's now an emphasis to use real-time accurate data in the revenue cycle and on the finance side, he said. 

Madaket works with 80% of all providers and over 4,000 payers in the United States, according to Demers. In total, organizations have saved over $500 million in penalties and costs and realized ROI in getting back hours lost to tedious tasks.

Here more in Demers' conversation with Healthcare Finance News' Executive Editor Susan Morse.

Talking points: 

• Most providers work with 20-plus insurance companies on the same, manually-intensive administrative work
• Madaket has cut down the amount of time it takes providers to enroll an insurance company from three to six months to a few weeks.
• Implementation of the No Surprises Act caused challenges for providers and payers because provider directories are not always up-to-date.
• If a payer can't say for certain if a provider is in network, they can't provide an accurate cost for the service.
• Automating administrative tasks helps to alleviate miscommunication 

More about this episode:

Siloed technology and data create a big health system pain point

Automating revenue cycle on the back end improves patient engagement on the front

Automating 'high level' healthcare tasks can create high value savings

U.S. healthcare system could save $16.3B through workflow automation

Advancements in automation are cutting into the rising costs of manual healthcare transactions

Twitter: @SusanJMorse
Email the writer: SMorse@himss.org