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Managed Healthcare Executive -- Administrative costs make up about 15% of all healthcare expenditures—well over $300 billion annually, according to the 2016 index report from the California Association for Healthcare Quality. Outdated, manual processes and rejected claims eat up a large portion of this cost.

The key to reducing administrative costs lies in refining these processes and changing with the times, according to industry leaders.

Here are five strategies to consider implementing at your organization.