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CARDINAL HEALTH, INC.

(CAH)
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Cardinal Health : reinvents hospital claims remittance with comprehensive approach

09/22/2021 | 03:12pm EDT

DUBLIN, Ohio-Cardinal Health (NYSE: CAH) today launched the Reimbursement Solution-a comprehensive approach designed to help hospitals and health systems minimize their number of claim rejections and denials by up to 80%.

The Cardinal Health Reimbursement Solution utilizes a three-pronged approach-proactive coverage verification, patient financial assistance support and ongoing analysis and action-to identify and correct potential claims issues before treatment begins.

"Rejected and denied claims take a significant toll on the bottom line for sites of care with high-cost specialty drug spends, and create an administrative burden on hospital, health system and infusion center staff," said Peter J. Siavelis, Cardinal Health Senior vice president of Acute Care Distribution and Services. "Our Reimbursement Solution relieves administrative burdens, minimizes claim rejections and denials and improves workflows, allowing sites of care to focus their time on patient interactions and care."

According to estimates from the U.S. Department of Labor, more than 200 million claims are denied each year in the U.S., representing millions of dollars in losses for the average hospital. Two-thirds of these denied claims are recoverable, yet many hospitals lack the resources to recover them1.

Designed by clinical experts with more than 35 years of combined experience in coding, billing and patient assistance, the Cardinal Health Reimbursement Solution provides patients with support from third-party payers and offers screening for individual insurance program requirements.

More information is available at cardinalhealth.com/rethinkrevenueprocess.

About Cardinal Health
Cardinal Health is a distributor of pharmaceuticals, a global manufacturer and distributor of medical and laboratory products, and a provider of performance and data solutions for health care facilities. With 50 years in business, operations in more than 35 countries and approximately 44,000 employees globally, Cardinal Health is essential to care. Information about Cardinal Health is available at cardinalhealth.com.

Contact: Andrew Stern, andrew.stern@cardinalhealth.com and 614.339.4678

1 Mayer C. The Health Claim Game. AARP The Magazine. Published Nov./Dec. 2009. The Health Claim Game: Fight Back When Insurers Deny Claims - AARP The Magazine.

Disclaimer

Cardinal Health Inc. published this content on 22 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 September 2021 19:11:04 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 172 B - -
Net income 2022 1 298 M - -
Net Debt 2022 1 300 M - -
P/E ratio 2022 11,1x
Yield 2022 4,04%
Capitalization 14 066 M 14 066 M -
EV / Sales 2022 0,09x
EV / Sales 2023 0,08x
Nbr of Employees 46 827
Free-Float 88,4%
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Number of Analysts 15
Last Close Price 49,57 $
Average target price 56,85 $
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Managers and Directors
Michael C. Kaufmann Chief Executive Officer & Director
Jason M. Hollar Chief Financial Officer
Gregory B. Kenny Independent Non-Executive Chairman
Brian S. Rice Chief Information Officer & Executive VP
Jessica L. Mayer Chief Compliance & Legal Officer
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