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As far as I can remember, I have once created a client website catering to their medical billing services. At that time I have not much of an idea what it was until I came into some really important facts about it.
Based on a new study recently released by America’s Health Insurance Plans (AHIP), three-quarters of all health insurance claims are now being submitted electronically, of course using medical billing forms with a massive increase from 24 percent in 1995 to 75 percent today.
Insurance claims submitted electronically reduce administrative costs while significantly speeding up payments to hospitals and doctors.
The proportion of insurance claims submitted to health plans electronically has more than tripled in the last decade, reducing administrative costs and significantly speeding up payments to doctors and hospitals.
Paper claims, on the other hand, are proven to have significant delay before health insurance plans receive claims from health care providers mostly due to incorrect or incomplete information adding nine days more to the process.
And to add, paper claims are costly than electronic claims.
In today’s age, automated technology must be utilized for getting insurance claims payment however not all providers can afford to thus making outsourcing of the claims process an alternative.