The country?s largest health insurer has said it saved nearly ?7 million last year
The country’s largest health insurer has said it saved nearly €7 million last year as a result of investigations into incorrect or inappropriate invoicing by hospitals, doctors and other healthcare providers to the VHI.
VHI chief executive Declan Moran said the savings were recouped as a result of a planned programme of billing audits by the company’s special claims investigation unit (SUI) as well as an ongoing initiative that queried the appropriateness of claims for patients with prolonged hospital admissions.
He said there were also approximately 2,000 contacts from “vigilant customers who queried their claims assessment statements”.
Mr Moran said where money was due it was recouped in full.
“In 44 per cent of the cases reported the full 100 per cent of the money paid out was due for recovery . The savings, which amounted to nearly €7 millon, have been invested into providing more healthcare for our customers, including more affordable healthcare premiums.”
Mr Moran said the most common anomalies identified last year were: incorrect accommodation fees being invoiced by the hospital (for example where a patient was billed for a private room when the patient had actually occupied a semi-private room); inappropriate lengths of stay; charges being raised for cancelled procedures; private fees for patients treated in a public capacity; as well as inappropriate invoicing for certain specified drugs, tests and prostheses.
“While Vhi Healthcare has always had a claims investigation team, significant additional resources have been invested in the SIU team over the past two years, and this has resulted in a doubling of monies recovered, year on year. From a cost containment and value-for-money perspective this initiative has been very successful with a 10:1 return on our investment to date . During 2011 we widened the scope of the SIU to greatly increase the number of onsite provider audits being completed,” he said.
US Drug firm to create 500 new jobs in Galway & Dublin
Enda Kenny with Mylan executive chairman Robert J Coury at the Mylan announcement in Baldoyle earlier today
US drugs firm Mylan has announced the creation of 500 new jobs in Dublin and Galway
A US pharmaceutical company has announced the creation of 500 jobs in Dublin and Galway.
Mylan will invest 76 million euro into its Irish workforce over the next five years and hopes to fill the positions by 2016.
The majority of the jobs will be based in the firm’s existing Dublin branch, with 220 in Galway.
Taoiseach Enda Kenny made the announcement at the Dublin facility.
The announcement, “in addition to the company’s proven 25-year track record as a top employer and reliable exporter in Ireland, demonstrates Mylan’s commitment to its Irish operations and recognition for the capabilities of its talented workforce,” he said.
Ryan-air today launches a Hotel Price-Comparison Web-Site
Ryanair Holdings PLC (RYA.DB) Wednesday launched a hotel price-comparison website, hoping to lure consumers away from the myriad existing travel and hotel market sites.
RyanairHotels.com, which is accessible through the budget carrier’s main site, will find the lowest prices and the maximum availability from over 300,000 hotels, Chief Executive Michael O’Leary said.
“Our comparison website will provide details of hundreds of thousands of hotels worldwide from cheap and cheerful two-star to fancy five-star hotels,” O’Leary said at a news conference in a four-star London hotel.
“And we will refund any difference if a customer finds a better rate elsewhere,” he added.
The company will get commission from the hotels it covers, but O’Leary said it expected to break even in the first year because it will be spending around EUR1 million on a separate advertising campaign to promote its new product.
Ryanair is Europe’s largest low-cost airline but recently warned that it would likely raise fares to cover its increasing fuel costs. In January, the company raised its full-year net profit target as it swung to a third-quarter net profit.
At 1455 GMT, shares were down 4 cents at EUR4.3, giving the company a market capitalization of EUR6.28 billion.
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