Case Study: Fortune 500 Healthcare Giant achieves 50% EOB processing cost reduction and 99.5% accuracy with Datamatics iPM & TruBot

Optimizing EOB Processing For A Fortune 500 Healthcare Giant

Fortune 500 Healthcare Giant, a diversified U.S. healthcare company with access to care through 12 million clinicians and about 6,500 facilities, was manually processing roughly 5,000 EOBs per day (about 840,000 per year) and facing high turnaround times. The EOBs arrived in multiple unstructured formats, making standardization and accurate data capture difficult, so the customer engaged Datamatics to automate the process using its iPM smart workflow and TruBot automation solutions.

Datamatics implemented iPM for end-to-end EOB handling (receipt of hardcopy via fax/mail/carrier, scanning, auto data extraction and validation) and deployed TruBot to automate extraction using fuzzy logic and AI. As a result, Datamatics delivered a 50% reduction in EOB processing cost, 90% improvement in auto-reconciliation of claims, 30% higher employee productivity with increased processing volumes, and 99.5% accuracy of information capture.