Lost checks are a painful reality in many provider clinics, but office managers can take control in a few, simple steps when they sign up their office for Electronic Funds Transfer (EFT). With EFT, provider offices can eliminate lost checks and bank trips, reduce paperwork and get paid faster (in as little as 4-10 days!). Sign up is quick and easy — enroll in EFT now.
Additionally, Health Plans encourages providers to file claims electronically. Electronic Data Interchange (EDI) is another technology that streamlines billing and claims submission. Offices that adopt EDI have improved claims accuracy, fewer denials, and reduce or eliminate pesky mailing costs.
To estimate your potential savings through EDI, use this Savings Calculator to input manual transaction volumes for your practice or clinic. The calculator results will show cost savings based on full or partial conversion to EDI. In fact, one study compared the cost differences of manual and electronic transactions in a typical provider setting. Although savings vary depending on practice, existing technology and other variables, the study found that implementing electronic transactions can reduce annual administration costs by more than $42,000 per provider.