late payment of medical claims can add to the cost of health care.an article reported that mean
Answers
means the later payment of medical claims (insurances) can be also added while calculating the cost of total health care
Life and health of human are practically unpredictable, and if health gets deteriorated, it becomes very expensive to cure it. In order to bear the sudden expenses, generally people use the policy provided by the company for supporting financially when there any crisis arises.
Hence the need of a medical claim, is very much needed, for the financial support during the crisis of health.
Late payment of medical claims can add to the cost of health care. The auditing firm of Dewey, Cheatham, and Howe has discovered that for one insurance company, 85.1% of the claims were paid in full when first submitted based on a sample of 200 claims. 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 new system revealed that 180 of the claims were paid in full when first submitted. At the 5% level of significance, is there evidence that the population proportion of claims paid in full under this new system is higher than the proportion of claims paid in full under the old system.