Electronic Billing

Electronic-Billing

A brief synopsis of the table:

  • The rejection rate of electronic claims is significantly reduced as compared to the rejection rate of traditional paper claims because the environment and manner in which the claims are processed in is greatly changed, eliminating many of the situations in which human error occurs.
  • Preparation time is reduced because of the nature of electronic claims data interchange and the elimination of the need to prepare manually written or typed documents, prepare them for mailing, manual correction and resubmission of rejected claims and so on.
  • The processing cost per claim is reduced because there is no need for your office to have additional or overworked staff members or the overhead, benefits and other costs incurred accommodating said staff.
  • Advisement of problems is made immediately, eliminating the long waiting periods between filing, correcting, resubmitting and eventual payment experienced with paper claims.
  • The waiting time for receipt of payment changes dramatically with electronic claims processing. Most major medical health insurance companies pay upon verification (one to two business days) meaning your funds are deposited into your account within two weeks.

Other benefits include:

Medicare and many major medical insurance companies pay electronic claims before they pay paper claims.

  • Electronically transmitted information is more easily verified, necessary corrections are made and the claims resubmitted immediately rather than in several weeks.

Electronic claims greatly reduce paper accumulation.

  • Freeing up vast amounts of valuable office space and eliminating the need to set aside designated storage areas for all that paper clutter!

Electronic claims processing virtually eliminates paper file preparation time and manual filing time.

  • Allowing your staff more time dedicated to the initial and follow up care of your patients.

Electronic claims processing substantially reduces your costs associated with traditional manual claims filing.

  • Including staffing, benefits, overhead and supply expenditures.