Renesan Software: New health care standards to save up to $6 billion

28 Aug 2012

New health care standards to save up to $6 billion

New health care standards to save up to $6 billion
August 24, 2012
Today, Department of Health and Human Services (HHS) Secretary Kathleen Sebelius announced a final rule that will save time and money for physicians and other health care providers by establishing a unique health plan identifier (HPID). The rule is one of a series of changes required by the Affordable Care Act to cut red tape in the health care system and will save up to $6 billion over ten years.
“These new standards are a part of our efforts to help providers and health plans spend less time filling out paperwork and more time seeing their patients,” Secretary Sebelius said.
Currently, when a health care provider bills a health plan, that plan may use a wide range of different identifiers that do not have a standard format.  As a result, health care providers run into a number of time-consuming problems, such as misrouting of transactions, rejection of transactions due to insurance identification errors, and difficulty determining patient eligibility.  The change announced today will greatly simplify these processes.
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