Quantifying Financial Risks in the Healthcare Claim Adjudication Process

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Quantifying Financial Risks in the Healthcare Claim Adjudication Process

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Quantifying Financial Risks in the Healthcare Claim Adjudication Process

Praveen Kumar Vutukuri
Centene Corporation (of Affiliation)
Cliam Intake Systems(of Affiliation)
Tampa, FL, USA
praveen524svec@gmail.com

Abstract –The claim adjudication process is crucial in healthcare organizations, involving the verification, approval, or denial of claims submitted by providers. Efficient adjudication is vital for ensuring accurate and timely reimbursements, minimizing financial risks, and maintaining positive relationships with both healthcare providers and policyholders. This paper presents a framework for quantifying financial risks associated with claim adjudication, including risks due to claim denials, overpayments, underpayments, fraud, operational inefficiencies, and several key risk categories like Group Risk, Global Provider Institutions (GPI), Capital Hospitals, Plans Risk, Shared Risk Pool, and Groups Risk Capitated. By quantifying these risks, organizations can implement targeted strategies to improve operational efficiency, reduce financial losses, and optimize the adjudication process. The proposed methodology offers a practical approach to assess and mitigate financial risks, ensuring sustainable operations and financial stability.

Keywords – Claim Adjudication, Financial Risk, Denials, Overpayments, Fraud, Underpayments, Operational Efficiency, Group Risk, Global Provider Institutions, Capitation.