PNC Treasury Management announced the PNC Claim Predictor, a new artificial intelligence and machine learning-enabled solution that helps healthcare organizations proactively identify inaccurate or insufficiently populated insurance claims prior to submission.
The process of submitting insurance claims has been a challenge for healthcare organizations for years, and has led to lost revenue, extended timelines and the diversion of critical resources, the company said. Insurers on average initially reject nearly $5 million annually in claims per provider, which results in either lost or at-risk revenue for healthcare organizations. In addition, it costs nearly $100 per claim to rework and resubmit claims2, which is why it’s not surprising that 45% of rejected claims are never resubmitted3.
“We saw that our healthcare clients could benefit from an efficient way to address the challenges they continue to face with submitting claims, which is exactly why we developed PNC Claim Predictor to help them tackle the issue,” said Doug McKinley, senior vice president and head of Innovation for PNC Treasury Management. “We are committed to constantly developing new and innovative offerings, through our treasury management platform, to create nimble, secure, seamless and customizable solutions to help our clients more effectively run their businesses and meet their own customers’ needs.” Read more.
