Healthcare costs in the United States are skyrocketing in part due to administrative inefficiencies.
The U.S. has by far the most expensive administrative hospital cost in the world (25.3%), followed by the Netherlands (19.8 percent) and England (15.5 percent). Scotland and Canada had the lowest hospital administrative costs. Read more: https://doi.org/10.1377/hlthaff.2013.1327
HEALTH PLAN INTERACTIONS
Physicians spend three hours per week interacting with health plans and medical support staff spend 19 hours per week per physician on such interactions. When combined, the time costs $68,000 more annually per physician (in 2006). Read more: https://doi.org/10.1377/hlthaff.28.4.w533
Administrative costs associated with billing and insurance-related activities at an academic healthcare system is estimated to costs as low $20 for a primary care visit and as high as $215 for an inpatient surgical procedure. These costs represented 3 percent to 25 percent of professional revenue. Read more: https://jamanetwork.com/journals/jama/fullarticle/2673148
Constant healthcare reforms and quality initiatives put pressures on providers and health plans to increase their focus on best possible outcomes while maximizing financial gains.
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MercIntelli Software Solutions
About MercIntelli Healthcare Solution
MercIntelli is a play upon the Latin words for marketplace – mercantus- and intelligent – intelligentes.
More stringent government regulations, declining reimbursement, and the growing focus to provide greater value in healthcare services are factors which are driving healthcare markets. The high cost of deploying manpower or single solution software which doesn’t coordinate with other parts of the organization, external third parties and business partners is increasing the market for intelligent software.
MercIntelli Healthcare Solutions incorporates cutting edge technology like Blockchain, Natural Language Processing and Machine Learning to empower healthcare professionals, facilities, payers, their organizations, and external business partners to more easily track and manage their administrative activities. We develop Intelligent Healthcare Solutions to: reduce overall costs; create better management capabilities; minimize manual transcription, paper forms, administrative delays, interruptions and redundant activities; improve the accuracy and timeliness of administrative data; and, create greater transparency among other benefits.
MercIntelli’s leadership team has extensive executive and managerial experience in various sectors of the healthcare industry, including payers and provider networks, value-based care products, population health management, physician practice management, clinical research, healthcare information technology and more. We’ve been a part of Fortune 100 companies, academic medical centers and start-ups where we have a track record of successfully introducing clinical and technology innovation. With Mercintelli, we are leveraging our knowledge, skills and experience to help organizations adopt technology which engages stakeholders, changes corporate culture and improves financial results. .