Industry Overview

• Over $1 Trillion in annual spending, or 15% of GDP. (WIT Capital Research)
• Over $5 Billion claims processed annually
• Healthcare is one of the largest sector in the U.S. economy

• Incomplete, inaccurate, or "dirty" claims account for more than one in four submitted by physician offices
• Major reasons of revenue losses in billing
  –  Insurance Eligibility
  –  Denials in Electronic Data Interchange
  –  Inefficient or no follow up of claims filed
  –  Unauthorized write offs by staff
  –  Improper and late processing of claims denied by payers
  –  Inefficient patient collection system
  
• Over 20 billion dollars are wasted, annually in the processing of flawed claims

• High staff turnover
• High training costs to meet compliance standards
• Legacy, ineffectual and complex business processes
• Cash flow variations due to errors, long turnaround times and quality
• Time restraints for Management functions