Insurers Collaborate to Streamline Coordination of Benefits
March 5—An initiative of 12 major insurers, slated to launch later this year, will enable health plans and providers to more efficiently coordinate benefits for patients with policies from more than one insurer, according to the initiative’s sponsor, Council for Affordable Quality Healthcare (CAQH), a not-for-profit alliance of health plans and trade associations.
The initiative is designed to create a single source of timely and accurate coverage status, enabling providers to properly bill insurers and improve claims processes. CAQH research suggests that administrative efficiencies associated with benefits coordination could, over time, save consumers, providers, health plans, and others more than $800 million per year.
The CAQH member plans participating in this initiative collectively cover more than 165 million lives.
Publication Date: Tuesday, March 05, 2013