{"id":946,"date":"2011-11-08T19:47:38","date_gmt":"2011-11-09T00:47:38","guid":{"rendered":"http:\/\/www.poweryourpractice.com\/?p=946"},"modified":"2011-11-08T19:47:38","modified_gmt":"2011-11-09T00:47:38","slug":"physicians-who-switch-to-electronic-claims-processing-save-thousands","status":"publish","type":"post","link":"https:\/\/carecloud.com\/continuum\/physicians-who-switch-to-electronic-claims-processing-save-thousands\/","title":{"rendered":"Switching to Electronic Claims Processing Saves Physicians Thousands"},"content":{"rendered":"

Medical claims processing is broken.<\/strong> The process is growing increasingly complicated, making it more difficult than ever for physicians to get paid in full.<\/p>\n

The American Medical Association (AMA) is helping healthcare providers reverse this trend with its \u201cHeal the Claims Process\u201d campaign that spreads the word on the benefits of electronic claims processing<\/strong>.<\/p>\n

<\/p>\n

According to the AMA, physicians who switch to electronic claims processing<\/a> can dramatically reduce the cost of submitting claims from as much as 14 percent of revenue to roughly one percent.<\/p>\n

Cutting the paperwork, errors and staff requirements of traditional claim submissions can save more than $9,000 per physician in 2012<\/strong>, according to data cited by the AMA.<\/p>\n

As part of the campaign to help improve the claims process<\/a>, the AMA has designated November as \u201cHeal that Claim\u201d Month. There\u2019s no time like right now for physicians to switch to a more streamlined way of doing business.<\/p>\n

“Resolving questions of insurance eligibility, submitting claims to insurers and keeping track of the process can be costly and time-consuming,” said AMA President Peter W. Carmel, MD, in a statement.<\/p>\n

Dr. Carmel believes the AMA can play a pivotal role in helping physicians streamline the claims process, increase profits and improve patient care through the campaign.<\/p>\n

AMA\u2019s Benefits of Electronic Claims Processing<\/strong>
\n\u2022 Save money
\n\u2022 Cut time spent on paperwork
\n\u2022 Eliminate time-consuming phone calls to health insurers
\n\u2022 Reduce administrative errors
\n\u2022 Free up time to focus on patient care<\/p>\n

The AMA has transactions toolkits\u00a0with outlines, checklists and webinars to help practices start the switch to electronic claims processing<\/strong>.<\/p>\n

Utilizing electronic transactions can standardize the claims process and automate many of the time-consuming tasks that monopolize a medical practice\u2019s staff.<\/p>\n

Eligibility verification, prior authorization, claim status confirmation and processing payments from health insurers can all be done digitally and in a fraction of the time necessary for the traditional paper claim processing.<\/p>\n

Claims in the Cloud<\/strong>
\nSwitching from paper claims processing to electronic can pay significant dividends for a practice\u2019s bottom line, but adopting a cloud-based system can be even more beneficial for physicians.<\/p>\n

Practices can achieve greater savings by moving electronic claims to cloud-based systems that require very little implementation, hardware and maintenance costs.<\/p>\n

Cloud-based claim software gives practices of all sizes greater connectivity and flexibility through a system that allows secure access to users from multiple locations and with greater speed.<\/p>\n

Physicians who leverage the best technology available to process claims will reap the greatest rewards for their patients, their practice and themselves.<\/p>\n

What is your practice\u2019s plan to implement electronic claims processing?<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Medical claims processing is broken. The process is growing increasingly complicated, making it more difficult than ever for physicians to get paid in full. 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