For many physician groups, the process of submitting insurance claims can be both time-consuming and subject to human error. As a result, claims denials are likely to frustrate both physicians and clients. When claims are settled promptly and processed smoothly, physicians can focus on enhancing the patient experience.
What can automation do for your physician group?
There are many benefits to automating the transmission of data from your EHR/EMR system to your billing system. Most notably, however, automated data integration is the fastest way to ensure clean claims are submitted to the clearinghouse, thus resulting in a reduction of days outstanding.
How does this help your patients?
Many physician groups and practices find the insurance claims process to be tedious and difficult. In fact, up to 40% of insurance claims either disappear or contain inaccurate information which leads to denials, delays and even write-offs. With automated claims processing technology, consumers receive their explanation of benefits from their Insurance Carrier in a timely manner and can have a better idea of the payments they will be responsible for.
Automation is the future of claims processing
The companies not investing in automated medical coding services or automated data integration will likely be surpassed by their competitors. Claims denials cause massive costs associated with the upkeep, maintenance, and manpower required for claim reconciliation. Automation of claims processing is faster, cost efficient, and patient friendly.
Patient Payments, Perfected
At MEDSTAT, we offer technology solutions to empower financial transformation for healthcare organizations. iConnect was developed for physician groups and practices that desire a patient centric payment opportunity, faster communication and quick resolution time to reduce payment delays. Empower transformation in your organization by partnering with MEDSTAT. Schedule your demo today, or get in touch with us today!