There has been a recent surge in physicians filing claims electronically in the past few years, especially with billing software vendors also integrating electronic data interchange into their systems.

According to industry standards:

2006 - It was reported that % of Electronic claims filed by physicians and hospitals increased from 44% to 75% in four years
2006 - It cost 85 cents for a health plan to process a clean electronic claim compared with $1.58 for a clean paper claim
2012 – A study concluded that digital records users were 80% or higher than that less likely to have a medical malpractice claim filed against them as compared to users filing paper claims

This gives doctors further incentive to shift to electronic records, along with even insurers more keen on getting claims filed electronically and various payers offering free services to doctors.

What about the remaining 25%?

Keeping in mind the additional time and cost it takes to transfer to electronic health records, various physicians may have hesitated in converting, however most physicians realize the efforts may well be worth the price considering the benefits accrued with electronic records & claims filing.

New research indicates that paper files have nearly been eradicated in most businesses in favor of resourceful, eco-friendly, storage-saving digital files. Moreover a recent rule published last month in August 2012 by HHS requires health care claim payments to be made electronically, with physicians needing to comply with the rule beginning 2014, which will soon make paper claims a thing of the past for physicians.

Benefits to the physician:

  • The new rule will help in reducing red tape, saving money besides helping doctors put more time into patient care rather than in filling out forms
  • HHS has estimated cost savings with the new rule to be $2.7 billion to $9 billion during the next 10 years for physician practices, hospitals and health plans
  • According to CMS costs savings because of the new rule include paper, printing, and postage costs, and time required for staff to manually process and deposit paper checks.

Additionally Electronic Medical Claims Filing – helps in faster recovery of payments, reduced denials, more time, and instant cost savings. It also improves documentation, analysis and reporting, helping in improved billing.

Physicians Filing electronic claims

Physicians though fully aware of the necessity of Electronic filing may face barriers in the form of high initial cost and time, changes in technology, difficult corresponding changes and inadequate support.

Billing and insurance-related administrative tasks consume two-thirds of a full-time physician employee’s time; various physicians are turning towards a billing service partner for handling all their billing related tasks along with helping them adapt to filing claims electronic ally.

File your claims electronically with MBC...

Technology MBC assists in maintaining and updating the physicians about all the necessary technological equipment and can also assist in implementing or suggesting a standard program for electronic medical claims processing, keeping in mind client’s needs
Security Electronic claims records also are much easier to steal, as they can be sent through email and put onto portable data devices, with sole concentration on one task we are able to maintain strict privacy and security measures regarding our clients documents
Errors Our quality checks avoid any errors which could be caused due to data inputted incorrectly with an electronic claim, or software used for processing not always function correctly
Cost Physicians can make up for these expenses through the higher number of clients they are able to serve with the help of a medical billing service has been assisting in revenue maximization for over a decade now for physicians across the 50 US States and across varied specialties also providing consultancy right from the best EHR– to data analytics.

 MBC’S Custom made      +      Speed and      +      Electronic claims 

Equals to high profits for your clinic!

Published By - Medical Billers and Coders
Published Date - Sep-04-2012 Back

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