Atlanta, GA (PRWEB) July 19, 2012
Connolly, Inc. has published a white paper that provides advice to assist healthcare payers in cutting costs and generating savings. The white paper, entitled “Reducing Specialty Drug Expense Through Identification and Elimination of Claim Payment Errors,” gives specific insight into how post-payment recovery audits can help reduce specialty drug expenses.
Collective specialty drug spend continues to rise rapidly, as it has for several years. In fact, specialty drug costs grew more than 17% in 2011, while spend on traditional drugs remained flat. In 2012, it is anticipated that for the first time ever, a specialty drug will be the best selling pharmaceutical in the world.
“Payers recognize that no single strategy can manage this increasing spend, but rather that strategies must be used in combination,” said Michael Wilson, Connolly Director of Marketing. “This paper examines a strategy that is sometimes overlooked, yet which is very effective – the elimination of payment errors through recovery auditing.”
“Specialty drug spend is truly a unique area within healthcare, and as such requires special attention,” said Cory Deagle, Connolly Principal, who leads a team of healthcare auditors and collaborated on the white paper. “Obviously, the drugs themselves are incredibly complex, clinically, but the billing and administration also presents significant challenges. Working with many of the top US payers, our experience has shown that focusing on accurate payment will add dollars back to the bottom line and reduce future spend.”
The white paper’s release coincides with Connolly’s participation in a conference presented by AHIP (America’s Health Insurance Plans). It takes place June 20 – 23, in Salt Lake City, UT. Connolly attends the conference each year to meet with clients and share its extensive knowledge of healthcare trends and issues.
About Connolly - Connolly Inc. is the world’s largest provider of recovery auditing services. Headquartered in Atlanta, Georgia and with 23 offices throughout the U.S., the UK and Canada, Connolly has more than 1,200 employees serving 130 Healthcare, Retail and Commercial clients. Connolly recovers over $1 billion a year in overpayments for clients and offers process improvement recommendations that mitigate future losses. Connolly’s contract compliance services ensure clients receive what they negotiated. Connolly provides recovery auditing services for 19 of the top 20 U.S. retailers, 7 of the top 8 healthcare payers, and 60 Commercial companies. Connolly maintains a 97% customer satisfaction rating, is consistently listed on the Inc. 5000 list of the fastest-growing private companies in America, and has twice been named “One of the Best Places to Work.” Connolly’s Audit Support Center is located in Wilton, CT.
For additional information, please visit Connolly at http://www.connolly.com.
Anne Marcus, Public Relations