A Service Built for Healthcare Providers
This week Madaket was at the NAMSS conference. We heard a lot of enthusiasm from providers, especially around how provider-friendly our services are!
When we designed the Madaket service, we looked at the challenge of enrolling in payer electronic services from the healthcare providers’ perspective. Key issues to overcome included:
- The current process is incredibly time-consuming. The average practice does business with 25 payers and updates roughly one-third of their providers’ enrollments each year. The pain of finding and filling out forms is immense. It takes some admin staff more than a year to get proficient in the enrollment process, and that does not even include the time it takes to call payers to find out the latest enrollment requirements.
- Many submissions have errors. Payers tell us that 20% of forms sent by providers are rejected due to errors. In most cases, providers only learn of an issue when they call a payer to find out why they have not received a reimbursement. Answering those calls ends up consuming about 20% of the call center time of a typical payer.
- The problem is massive on an industry scale. The enrollment status quo is a major problem for each provider, but when you look at the entire US healthcare industry, the waste and inefficiency is staggering. There were over seven million enrollments last year, and each one can take six to eight weeks to complete successfully. Every provider— whether a hospital, health system, or private practice—understands the issue.
With the Madaket solution—available to hundreds of thousands of providers and linked to the more than 3,000 payers in the US—the benefits to providers include more than just faster payments. Additional advantages of using Madaket include:
- Fewer errors because of higher quality data. Providers—or their authorized agents—submit their own data to the Madaket portal. Our system takes in this accurate provider data digitally, eliminating manual input errors on the provider’s end. When more payers integrate with our system, manual input errors will also be eradicated when the data is delivered to payers.
- Providers own the submission data. Providers using Madaket own their data. Vendors do not. Any time after submitting a payer enrollment through Madaket, providers can log onto our portal to see what they have submitted and the status of their enrollments. This is a much more transparent system than faxing and mailing documents to payers without status updates back.