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Medical Billing Business | Electronic Medical Billing
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ELECTRONIC MEDICAL BILLING OR CLAIMS PROCESSING (ECP) can best be described as the efficient processing of claims for a physician via your computer modem. Thus the term, Electronic
medical billing. Claims are submitted to a clearinghouse which edits, formats and transmits them to the proper insurance company or government agency. If errors are found, you, as the electronic
medical billing professional, will be notified electronically by the clearinghouse within 24-48 hours. You then correct the errors and resubmit to the clearinghouse for final processing.
Note: Because you will be using ClaimTek's specialized electronic medical
billing software, the possibilities of making mistakes are few and you will find that, after filing your first 25-50 claims, you'll know exactly what to look for in proofing each claim before you submit it to the clearinghouse.
ClaimTek's Electronic Medical Billing Software shortens processing time from 7-20 days! And, some insurance companies allow you to transmit directly to them, bypassing the clearinghouse and saving even more time.
Manual vs. Electronic Analysis
Manual Medical Billing
- Just 70% of Claims Paid
- 45-120 Wait for Payment
- $7-12 Preparation Costs
- 20-25% Rejection Rate
- Extensive
Follow-Up
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Electronic Medical Billing
- Over 99% Paid
- 7-21 Days to Payment
- $2-5 Preparation Costs
- 1% Rejection Rate
- Little or No
Follow-Up
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Most healthcare providers have very little exposure to the benefits of electronic
medical billing. Medical professionals seldom understand the tremendous cost savings, efficiency, and improved cash flow that
the electronic medical billing system can offer them.
Because we understand their position, ClaimTek's promotional literature for doctors targets the benefits of your services and explains it in language the doctor can quickly understand. All full color, high quality, pre-printed brochures and mailers have been prepared with you and your needs in mind. They are designed to help you succeed in getting as many new accounts as you are prepared to handle.
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