A 2006 study revealed that electronic submission of medical insurance claims costs on average $2.90, compared to $6.63 for manually processing a paper claim. So it isn’t surprising that many insurers are now requiring this method for submitting claims, as a way to both save time and save money. However, even with this standard practice, a great deal of insurance claim documentation in the form of attachments is still being submitted manually. Paper-based, manual processing can slow down the reimbursement cycle time considerably. This paper block in the electronic pipeline prevents the whole process from being automated and thus decreases efficiency.
However, an increasingly popular solution is to add the element of electronic attachments to the electronic submissionprocess. By digitizing every element of medical claim documentation and supporting documentation, claim filingcan become completely automated and therefore much more efficient. Experience has shown that billing managers dramatically improve collection efforts simply by using technology to improve their reimbursement cycle. Implementing an infrastructure for paperless document management and attachments in turn results in faster and simpler coding and billing, reduced overhead, and improved client service.
FastAttach is a Windows-based application compatible with all practice management systems and may be used by any claims clearinghouse. FastAttach allows your billers to scan documents, import files or print capture images already in your system and send them electronically, saving time and money routinely spent on follow-up calls and mailings. FastAttach alleviates the hassle of submitting supporting documentation for claims, resulting in fewer claim denials and measurable improvements with your revenue cycle.
Though attachments are ultimately only a small piece of the claims process, applicable in perhaps 10% of claims, they can have a proportionately large impact on the speed of reimbursement. We may have reached a new era in the healthcare industry with respect to the positive impact of technology. Claim filing is easier than ever before – but in order to receive the full benefit of electronic submission, attachments have to be part of that digital picture as well.