All You Need to Know About Electronic Insurance Billing
Insurance claims billing is a tedious process that involves a lot of accurate detailing. Essentially, it is the process of submitting claims to insurance companies in order to receive payment for services rendered by a healthcare provider. While the process is more or less the same for most insurance companies, whether they are private companies or government-owned, in most cases it takes skilled work force like insurance billing specialists to process health insurance claims in accordance with legal, professional and insurance company guidelines and regulations.
Studies reveal that health insurance programs or policies pay about 70%-80% of all medical bills. Professional, legal and insurance company regulations that govern insurance claims billing practices are updated and revised from time to time and errors in keeping up with these changes can cause a delay in payment being received. Payments for services provided might be delayed or simply denied on the basis of a small clerical or data entry omission or mistake. Timely submissions and accurately filled out claims are crucial to ensure that bills are paid for efficiently.
Electronic Insurance Billing – a reliable way to an efficient practice
Practitioners around the world are catching up quickly to the benefits of electronic insurance billing. Take a look at some facts about billing and the broad benefits that a medical insurance billing software can offer:
- E-Billing or medical insurance billing software can reduce payment turn-around time by shortening the payment cycle.
- E-Billing formats are now approved and mandated by Congress.
- E-Billing can reduce average errors to less than 2% by filing claims electronically.
- Paper claims contain errors, which reduce payment turn-around time.
- 30 to 35% of all paper claims are rejected due to typing errors, oversights and other mistakes. Electronic insurance billing can cut down on these figures drastically.
QuickPractice’s reliable medical insurance billing software
QuickPractice’s medical insurance billing software has three different versions to suit your budget and practice needs perfectly. Packaged as Deluxe, Standard and Professional, these versions of the billing insurance medical software provide the most cost-effective, reliable and robust platform to work on. Through your Internet connection, QuickPractice electronically submits information to the carrier after being checked for accuracy by the Clearinghouse. This process reduces the average rejection rate from 30-35% to 1-2%. The benefits of QuickPractice’s insurance claims software doesn’t end here. In a study conducted by the American Medical Association it was estimated that the cost of filing a claim was an average of $6-$12 dollars. Compare this to using QuickPractice’s medical insurance billing software for one low monthly price per provider with unlimited commercial claims and you’ll understand why it is one of the most sought-after solutions in the industry!
Imagine having the perfect accounts receivable program for all of your practice management needs integrated with the world’s best accounts payable/financial reporting program. That’s QuickBooks and QuickPractice.
Meticulously developed after studying varied needs of practitioners across the globe, these electronic insurance billing solutions help you to keep track of all of your services, procedures, supplies, insurance claims, and much more plus the power of transferring your payments received directly into your QuickBooks checking account or income account, eliminating DDE (double data entry), minimizing errors, and saving countless time and money for your practice.
Direct Benefits of QuickBilling – the ideal insurance claims software!
- Fast and easy payment of claims (3-4 months reduced to 7-14 days)
- No charge for re-submissions of commercial claims
- Get paid on more claims by reducing errors
- Improve cash flow
- Save thousands of dollars annually on clerical and administrative costs
- No staff training required; just click and QuickPractice does all the work
- What’s more, those purchasing the QuickBilling feature receive an automatic monthly discount on our All Inclusive Support Plan; Unlimited commercial claims for one low monthly fee per provider (including electronic billing support.)
Our All Inclusive Support Plan includes our all-powerful QuickConnect Service. When you are in need of technical assistance, we can connect directly to your computer in real-time and help resolve any problem you may face with the medical insurance billing software . It’s like having a professional tech support team right in your office! You also receive unlimited state-of-the-art technical support from our friendly staff. With QuickPractice, you never worry about changes in the medical field, as we keep your software and your staff updated as a part of our service. In addition, as our client, you NEVER have to pay for software upgrades. This means that as a QuickPractice client, you receive the latest version of QuickPractice with every release, automatically FREE – saving you hundreds of dollars a year.
All in all, QuickPractice offers you the most comprehensive insurance claims billing solutions. Still not sure? Call our representative and try our 30 -day free trial today. Rest assured that insurance claims billing solutions will take care of all of your billing and medical claims management needs.