Change Healthcare Announces Provider-Payer Data Exchange Solution
Breakthrough all-payer medical attachments capability gives providers the ability to dramatically reduce administrative burden associated with document and data exchange with payers
NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan. 13, 2020--
Today Change Healthcare (Nasdaq: CHNG) announced major new enhancements to its claim attachments solution. These enhancements will create the industry’s first nationwide solution to enable providers to submit documents and data, such as claims attachments, electronically to all payers in both the Medical and Workers’ Compensation market segments.
Built on the Change HealthcareIntelligent Healthcare Platform™, the claim attachments solution goes beyond myriad fragmented workflows and paper-based processes that providers currently use to exchange clinical and other supporting documentation with payers. With this new capability, providers can submit documents and/or clinical data required for claim adjudication and reach any payer in the country––all through a single workflow.
Providers currently face a complex, manual environment for document and data exchange with payers. The new capability helps to increase provider efficiency, reduce errors, improve manageability, and speed cash flow while reducing administrative costs. The total national savings opportunity by adopting electronic claim attachments is estimated to be over $200 million.1
The new claim attachments solution also sets the stage for new uses of Artificial Intelligence (AI) technology. Change Healthcare is already applying AI to automate medical documentation review for Risk Adjustment and Payment Integrity use cases. While it often takes 40 minutes or longer for humans to review a medical record for coding accuracy, AI is able to read and process the same medical record in just 40 seconds, improving productivity by as much as 50% for certain clinical or coding reviews.2 The claim attachments solution complements that capability by creating a simple electronic submission path directly into the Change Healthcare AI services.
“We’re tackling the next frontier of electronic transaction adoption in the healthcare industry. This enhanced claim attachments solution addresses long-standing issues that have resulted in paper-based processes and inefficiency. Providers will have one place to submit claim attachments electronically to any payer in the United States,” said Mike Peresie, senior vice president and general manager, Medical Network at Change Healthcare. “By adopting our claims attachment solution, payers and providers can end their reliance on antiquated solutions, take paper out of the system, and participate in the next phase of industry maturation powered by artificial intelligence.”
Future generations of the offering will continue to expand the network, workflows, and capabilities, such as coupling this single document and data exchange network with AI-empowered logic, to anticipate data sharing requirements earlier.
Among Change Healthcare’s initial adopters is the Change Healthcare Revenue Cycle Management billing office, which provides claiming services for providers. According to Thomas Laur, president of Technology Enabled Services at Change Healthcare, “We understand the importance of eliminating the administrative costs because we see their impact every day. We’re extremely excited about both the near-term and longer-term efficiencies this service will create for our business and our customers.”
The claims attachment solution has already enabled the exchange of over half a million supporting claim documents between early-adopter payers and their providers.
The Change Healthcare Intelligent Healthcare Platform has one of the largest clinical and financial healthcare networks in the U.S., processing nearly 14 billion healthcare transactions and approximately $1 trillion in adjudicated claims, or approximately one-third of all U.S. healthcare expenditures.
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. We are a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities. Learn more at changehealthcare.com.