Providers are spending millions of unnecessary hours on manual billing tasks, costing them billions. From the moment your patient walks through the door, the clock starts ticking on the claim process. Medical providers aspire to help and heal, not push paper. So why spend so much time and energy on medical claim processing? It is a necessary and time-consuming task that requires accuracy and attention to detail, but too often, it consumes valuable resources.
Simple clerical mistakes cause errors, denials, and slow turnaround time; and losing time means losing money. Manual claim processing unnecessarily causes a double hit to your bottom line, increasing labor demands and costing more to correct errors.
When your claim submission and denial management is aided by the services provided by a clearinghouse, your bottom line will definitely thank you. Fortunately for today’s healthcare provider, claim processing software is easier to use and more effective than ever. If you have been considering making a move, now is the time.
Reduce Submission Errors
Simple mistakes such as filing the wrong claim forms, filling them out incorrectly, or filing too late causes denials and can have devastating effects on your workflows and your revenue. Correcting an error on paperwork from an insurance company once it has been submitted can take days, weeks, and in some cases months.
Not only can you catch errors faster with medical claim processing software, but thanks to scrubbing technology that highlights errors before claims are sent to payers, denials are less likely to happen in the first place. This saves not only hours of labor on every transaction but curtails a massive amount of administrative frustration for you and your patients.
Multiply Time Savings
Your time is valuable. Your team’s time is valuable. From formal reviews with insurance providers to resubmissions, every moment you spend processing claims costs you money. Multiply savings across your organization by switching over to a more automated, electronic medical claims management system. Imagine how much time you save when it no longer takes you any more than two minutes to submit an accurate claim.
Positive Patient Experience
It requires efficiency to maintain a competitive business model and allow healthcare providers to focus on providing the best quality care. If they cannot offer efficient administrative solutions, they cannot effectively do their job in their field of expertise. When they can offer a seamless billing experience for patients, satisfaction rates will no doubt improve, reducing patient churn.
Reduced Human Error & Alleviated Administrative Burden
Insurance policies are ever-changing, and providers get tossed about with the tide. Electronic claim processing helps reduce this fluctuation. Human errors on critical processes like entering accurate billing codes far surpass those of an electronic medical claims processing system, so claims are less likely to get paid on time. Plus, when your billing team is freed from the busywork, they can focus on more important initiatives for your company. Or, if you’re both billing and seeing patients, you can stop worrying about insurance claims and get back to patient care.
Shorten the Billing Cycle
We don’t have to tell you how frustrating delays in payments can be. The longer it takes to submit accurate claims, the later you’ll receive payment from insurance companies, and the longer payment sits in limbo or “ages”, the more it depreciates and the less it is worth. Making the switch to claim processing software decreases rejected claims and the time it takes to collect payments, ultimately saving time, money, and frustration. Simply put, clearinghouses like Apex EDI get you paid faster.
Make the Switch
Making a switch that affects your business, your organization’s welfare, and the welfare of your patients requires due diligence. Many healthcare providers who have not yet made the switch to claim processing software have been waiting for the right time. But waiting comes with a cost, a competitive disadvantage in the market, and they are losing money, time, and efficiency.
Mistakes and coding errors are a reality in the medical profession, but it is a challenge you can solve today. Better technology is available now to help streamline the process. The key is choosing the right software company – the right fit for you who will be there every step of the way. Apex EDI has the most complete list of features in the industry and works with more payer organizations than any other EDI solution. Call Apex EDI to schedule a free, live, and personalized demonstration.
