IRVINE, Calif.--()--Kofax® plc (LSE: KFX), a leading provider of smart process applications for the business critical First Mile™ of customer interactions, today announced that a leading national provider of publicly funded health care insurance programs has invested more than $500,000 to expand its Kofax solution to increase efficiencies in processing a larger volume of Medicare claims and related correspondence, thereby significantly reducing labor costs and expediting claims payments.
“Kofax is committed to providing health insurance providers with solutions that cut costs while improving quality”
The customer is using the additional Kofax software to increase the volume of Medicare claims forms and related documents to 24 million per year, and other correspondence to 12 million documents per year. This increases medical claims processing efficiencies by significantly reducing labor costs and expediting claims payments.
In the American Medical Association's fifth annual National Health Insurer Report Card released in June 2012, Dr. Robert M. Wah, the association's board chairman, stated, "Paying medical claims accurately the first time is good business practice for insurance companies that saves precious health care dollars and frees physicians from needless administrative tasks that take time away from patient care."
“Kofax is committed to providing health insurance providers with solutions that cut costs while improving quality,” said Howard Dratler, executive vice president of Field Operations at Kofax. “Kofax automates document driven processes by capturing all health, patient or financial information at the point of entry, and transforming it into actionable information in a secure and auditable manner. By accurately and more efficiently automating claims processes with Kofax solutions, insurance providers can realize bottom line benefits.”
Kofax® plc (LSE: KFX) is a leading provider of innovative smart capture and process automation software and solutions for the business critical First Mile of customer interactions. These begin with an organization’s Systems of Engagement, which generate real time, information intensive communications from customers, and provide a fluid bridge to their Systems of Record, which are typically large scale, rigid enterprise applications and repositories not easily adapted to more contemporary technology. Success in the First Mile can dramatically improve an organization’s customer experience and greatly reduce operating costs, thus driving increased competitiveness, growth and profitability. Kofax software and solutions provide a rapid return on investment to more than 20,000 customers in banking, insurance, government, healthcare, business process outsourcing and other markets. Kofax delivers these through its own sales and service organization, and a global network of more than 800 authorized partners in more than 75 countries throughout the Americas, EMEA and Asia Pacific. For more information, visit kofax.com.
© 2013 Kofax, plc. “Kofax” is a registered trademark and “First Mile,” “Kofax Capture,” “Kofax Transformation Modules,” and “Kofax Monitor” are trademarks of Kofax, plc.