AP Companies presented cost containment tool.
AP Companies participated in ITIC Global Cost Containment Forum, where expert speakers discussed the increasing costs for medical services around the globe, the challenges of cost containment in different regions and the way, local knowledge can make a big difference.
Natalya Butakova, Business Development Manager of AP Companies, addressed unreasonable pricing, overutilization of services, double charges and other bad practices frequently identified in Europe and showed how efficient the Automated Cost Containment tool, created by AP Companies IT department, can make the difference:
- analyzing each invoice and red flagging the services that do not form part of the particular treatment in the international ICD 10 and CPT 4 coding
- checking the double invoices and the same services mentioned in the invoice more than once
- checking the prices in the invoices, to make sure they correspond to the agreed discounts and package prices.
It was mentioned, that only the application of the tool has insured more than 20% of additional savings.
The shift away from claims management based on rigid rule books in favor of smart algorithms leads to greater efficiency and valid decisions – thus relieving the burden on all stakeholders and delivering savings.
Natalya’s intervention provoked a lot of interest in the audience of the industry experts.