MagnaCare Takes the Plunge Into High Tech

Because people's lives are often at stake, Healthcare is one of the most thoroughly documented industries in existence, using millions of paper forms annually. Nationwide there are over 60 million pages of medical claims processed per day at a daily cost of over $125 million. At a few forward-thinking healthcare management organizations, the use of electronic imaging, intelligent character recognition (ICR) and workflow technologies are being used to process literally thousands of medical claims a day, and creating huge savings in the process.

Healthcare organizations that can set up a data management system to automate their claims processing, repricing and payment procedures are creating competitive advantages for themselves. One healthcare organization that knows the key to success lies in automating both data management and data entry operations is a PPO named MagnaCare, based in Garden City, Long Island.

MagnaCare is a PPO network of over 22,000 providers in more than 30,000 locations throughout the New York/ New Jersey region, almost all of which are either board certified or board eligible. The MagnaCare Network includes 350 diagnostic facilities and laboratory locations.

The concept behind MagnaCare is simple - in return for directed volume, its member providers agree to significantly reduce their fees while maintaining premium quality healthcare. Employees are free to select a conveniently located provider with little or no out-of-pocket expense. Providers increase their patient base while the health care plan realizes approximately 40% reduction in costs. Contributing in no small part to the overall efficiency of the operation is the state-of-the-art, automated data entry system that MagnaCare uses to contain the cost of processing its medical claims.

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Submitted by AnyDoc Software.