Do you file all medical claims electronically?
Submitting medical claims electronically has increasingly become more of a requirement, rather than an option. Even secondary medical claim submission is required to be electronic by some government payers, like Medicare. This is why it is important that you get enrolled to submit medical claims electronically with all your payers.
Did you know many insurance companies have a 90 day timely filing limit?
Electronic medical claims submission speeds up the delivery of medical claims to medical insurance companies. Also, most medical insurance companies will process the medical claims more quickly than if they received the medical claims in the mail. The end result is that you receive payment much sooner than if you were to file the medical claims on paper. Filing medical claims electronically also helps to overcome those timely filing limits that seem to be getting shorter all the time. A lot of medical insurance companies have implemented 90 day timely filing limits. Electronic medical claims will be at your medical insurance company in a few days verses a few weeks if sent on paper. Filing the medical claims electronically gives you more time to make corrections if necessary before reaching that timely filing limit.
Are you considering purchasing a new software system?
Decisions you make regarding your practice could impact the success of filing medical claims electronically. For example, if you purchase a new EHR system and your clearinghouse changes, you will have to be re-enrolled with all your payers. Re-enrolling under a new clearinghouse with medical insurance companies can take up to 30 days. It is important to keep this in mind when changing software vendors or clearinghouses so that your cash flow is not disrupted. If the enrollment is not complete, no claims can be filed, and therefore no money comes in.
Do you use EFT and ERA with your biggest payers?
Advanced Billing Consultants has experience with a variety of clearinghouses and are well versed in enrolling providers electronically. They can also help you get enrolled with electronic funds transfer (EFT) and electronic remittance advice (ERA). Having your medical insurance payments directly deposited in your bank account guarantees you payment quicker. Similarly, ERA allows for explanation of benefits to be processed more quickly than if they were received by mail. This allows for patients to be balanced billed sooner and denials and rejections worked more timely. Both these features will decrease your days in AR and overall aging of receivables.
Clearinghouses which Advanced Billing Consulants has experience with are:
Should you need assistance with initial enrollment for a medical group or a medical physician or change of vendor or clearinghouse for your medical practice, please contact Advanced Billing Consultants at 888-222-2125.