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Electronic Claims Status Toolkit

Stay on top of your outstanding claims, while slashing costs
Long lead times receiving payment on your claims can put a crimp in your practice’s operations. But keeping track of outstanding claims manually can be expensive and time-consuming. Determining the status of your claims electronically can:

  • Substantially decrease associated costs by 90%
  • Keep you informed about your outstanding claims, and about any potential snags that need your attention
  • Streamline your claims processing and cash flow
  • Cut back time spent calling health insurers, waiting on hold, or searching payers’ Web sites for updates
  • Free up time for revenue-enhancing functions, such as ensuring correct payment

Savings

Cost to determine claim status manually: $3.70 x 620 = $2,294
Cost to determine claim status electronically: $0.37 x 620 = $229.40

Average annual savings per physician from automating claim status: $2,064.60*
* Based on an annual average of 620 claim status requests for a single physician. Source: Milliman, Inc., “Electronic Transaction Savings Opportunities for Physician Practices.” Technology and Operations Solutions. Revised: Jan. 2006