THE ECONOMIC MAGNITUDE OF CLAIM DENIALS

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

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

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

HOSPTIALS 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

Meet Olive, the only AI-powered digital employee 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 a 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 saw 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 organizations’ revenue recognition.