Productivity Improvements Needed to Address Volume Increases Stemming from the Affordable Healthcare Act
Irvine, CA July 9, 2013 – Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a US state Medicaid agency invested more than $350,000 in a Kofax solution to improve its medical claims processing efficiency in order to accommodate an increase in claim volume as a result of the Affordable Healthcare Act.
Prior to selecting Kofax, the agency was using a solution that could no longer support its growing claim volume. With the implementation of Kofax’s comprehensive capture and medical claims processing solution, the agency can now more efficiently process 10 million documents annually, including CMS 1500 and UB04 claim forms, resulting lower costs and better service levels.
“Most individuals covered by Medicaid have limited disposable incomes if any at all,” said Howard Dratler, Executive Vice President, Field Operations at Kofax. “For that reason, fast processing and payment of claims is critical to their well-being. This agency invested in Kofax as a means of increasing insureds’ satisfaction while also significantly reducing operational costs.”
Kofax healthcare solutions enable health care organizations and insurers to efficiently and quickly scale their claims processing infrastructure for the sudden influx of an estimated 30 million new patients expected to enter the health care system in January 2014 with the Affordable Healthcare Act. Kofax solutions automate patient onboarding, coordinate services, process claims and offer more insight into patient workflow without increasing headcount and lowering costs. For additional information on how Kofax solutions help such organizations, download the webinar, “Making the Affordable Care Act Affordable for Insurers: Fast Tracking Obamacare.”
About Kofax Kofax® plc (LSE: KFX) is a leading provider of smart process applications for the business critical First Mile™ of customer interactions. These begin with an organization’s systems of engagement, which generate real time, information intensive communications from customers, and provide an essential connection to their systems of record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile™ can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.
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