The Economic Magnitude of Claim Denials

Understand the growing complexities driving up claim denials and how other healthcare organizations are solving this costly problem.

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Today, 90%
of insurance claim denials are avoidable1, yet they’re still occurring on a massive scale at healthcare organizations – costing the average hospital $4.9 million.2
Denial write-offs have increased from $3.9 million in 2011 to $7 million in 2017 for the median 350-bed hospital3
The increase in denials adds up – Appeals cost the country $8.6 billion each year4

The Process is Too Complex & Costs Hospitals $262 Billion Annually3

31% of providers are still using manual claims denial management processes5
14.6% of claims are denied for missing or invalid claim data1
23.9%
of claims are denied around eligibility & registration issues6
Authorization & precertification issues account for 12.4% of claim denials7
48% of rejections and denials go unappealed or unworked9
Commercial & public payers are now denying about 1 in every 10 claims submitted — a practice that’s costing health systems up to 2% of net patient revenue8

Time isn’t on our side - the dollar value of collection cash drops over time, as risk increases10

Optimize the Process with AI & Automation

Hospitals and other health systems simply haven’t had the people, the process or the time to solve for the complexity afflicting their claims management processes – until now.

Olive

Meet Olive, the only AI workforce designed specifically for healthcare.

Olive checks claim statuses 7x faster than a human

It would take 127 full-time employees to accomplish Olive’s authorization workload at one 3,000 bed health system

Leveraging Olive in your claims management processes will provide better and faster information that will reduce denials – and the reason for denials – by identifying issues with claims that need to be solved before submission. Olive was designed to interact with EMRs, insurance portals, and other healthcare applications the same way a human would – only faster, smarter, and more accurately.

Olive completed 11,595 claims per week at one hospital
One hospital say a 30% reduction in days in A/R after hiring Olive to automate eligibility checks

By checking statuses early, frequently, and more thoroughly than your human employees, Olive accelerates cash flow and increases successful appeal efforts, impacting organization’s revenue recognition.

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Learn More About Olive

Olive uses AI to help health systems improve efficiency, reduce costs, and improve the patient experience

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Columbus, OH 43215

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