Claims auditing is often at the lower end of a long list of competing priorities — in spite of the fact that isolating the errors in claims adjudication and feeding the learnings back into the main process can result in significant savings .
As a progressive claims professional, you may want to reduce the gap between ‘as is’ and ‘could be’. But do you have the right set of tools to accurately measure those gaps, categorize them, derive actionable insights and execute the right measures?
4Audit – Claims Management Quality Assurance Tool
4Audit is an end-to-end claims auditing tool, architected to support the business and technical needs of the claims auditing department. It is designed to make the audit process more efficient, objective, and accountable.
Auditors become more productive and the audit process is more beneficial to the auditee as it is standardized and executed consistently, and all of the results are transparent.
- Improves the efficiency of the audit process by reducing multiple manual steps
- Standardizes the audit process bringing much needed consistency to the approach.
- Enhances transparency across organizational hierarchy.
- Provides actionable insights by pointing out areas that need improvement.
4Audit helps you
Improve audit process efficiency
4Audit automates the entire audit process, freeing up auditors to focus on what they are most valuable at… to identify claims processing errors and help prevent its recurrence.
Standardize Claim Audits
An effective claims audit system need to be consistent through-out the process, which necessitates standardization of all the steps. 4Audit handholds the auditors through the critical audit steps and performs most of the calculations automatically.
Increase Audit Transparency
4Audit includes a strong audit trail to let managers track what was done at every step within the audit process. With these logs, audits can be easily be checked and understood; and the results confidently used to drive process changes.
Enhance Claims Accuracy
4Audit helps increase claim accuracy in two ways: the auditees receive immediate feedback and have the option of reviewing and responding to audit results interactively; the reporting tools make it easy to analyze errors, identify patterns, and determine the efficacy of training strategies.
Realize Process Improvements
Analysis of audit results can identify specific needs and encourage process improvements and employee development.