HGS hits $1 billion in recovered payments for healthcare systems' toughest claims
Chicago (Illinois) [USA], Sep 5 (ANI): Hinduja Global Solutions (HGS) said on Thursday it has recovered one billion dollars in denied insurance payments on behalf of healthcare systems, a major milestone in what are some of the providers' toughest claims.
ANI
Sep 05, 2019 17:42 IST
Chicago (Illinois) [USA], Sep 5 (ANI): Hinduja Global Solutions (HGS) said on Thursday it has recovered one billion dollars in denied insurance payments on behalf of healthcare systems, a major milestone in what are some of the providers' toughest claims.
As macroeconomic headwinds continue to impact the US healthcare market, providers often struggle to walk the fine line between the push for healthier patient outcomes and an unsustainable cost structure. At the same time, the provider revenue cycle is becoming increasingly complex, said Dan Schulte, Senior Vice President at HGS Healthcare.
"Providers need a strong partner to help them pursue smaller insurance claims properly and recover payments that go right back to their bottom line. We are thrilled to have reached the one billion dollar milestone and recover some of the toughest claims for our provider customers," he said in a statement.
The average hospital costs must fall 24 per cent by 2022 in order for healthcare systems to break even, a recent Black Book Market Research LLC survey showed. By getting denied insurance claims adjudicated, properly appealed and collected, HGS is able to contribute up to five per cent to healthcare systems' bottom line.
Having relationships with both payers and providers, HGS brings in-depth expertise to provider revenue cycle management. Till date, the company has collected more than three billion dollars in accounts receivable on behalf of healthcare systems. (ANI)
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