​In this episode, we explore how a Fortune 500 healthcare giant partnered with Datamatics to optimize its Explanation of Benefits (EOB) processing, achieving significant improvements in efficiency and accuracy. The client faced challenges in handling approximately 5,000 EOBs daily, totaling 840,000 annually, with manual processing leading to high turnaround times and errors due to unstructured formats from multiple payers. Datamatics implemented its smart workflow solution, Finato, for end-to-end EOB processing, including receipt of hardcopy documents, scanning, auto data extraction, and validation. Additionally, TruBot was deployed to automate data extraction using fuzzy logic and Artificial Intelligence. This comprehensive solution resulted in a 90% improvement in auto-reconciliation of claims, 99.5% accuracy in information capture, a 30% boost in employee productivity, and a 50% reduction in EOB processing costs

To read the entire case study, visit us at https://www.datamatics.com/resources/case-studies/optimizing-eob-processing-for-a-fortune-500-healthcare-giant.