How insurance company developed a new payment system

Reference no: EM13122836

Late payment of medical claims can add to the cost of health care. An article reported that for one insurance company, 85.1% of the claims were paid in full when first submitted. Suppose that the insurance company developed a new payment system in an effort to increase this percentage. A sample of 200 claims processed under this system revealed that 180 of the claims were paid in full when first submitted.

Reference no: EM13122836

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