Automating RCM Services with a Clearinghouse Solution
Clearinghouses have been around for years and thanks to technological advances they’re more sophisticated and useful than ever. Even so, many medical practices continue to submit claims manually or use a combination of manual and automated methods. Provider offices submitted 119 million claims manually in 2012.
Providers who haven’t fully automated the revenue cycle risk falling behind in today’s highly-competitive healthcare industry. For those providers who continue to submit claims manually, they spend on average 8.5 minutes more with manual transactions than with electronic transactions. For more complex transactions, the difference between manual and automatic submissions may be as much as 29 minutes.
The minutes add up across all providers with offices wasting 1.1 million hours per business week on this administrative task. The manual process can be radically improved by using an automated solution to handle all claims.
Providers who take their clearinghouse to the next level and commit to an automated revenue cycle management program can expect to reap the rewards and remain relevant in the ever-changing world of healthcare.
We’ve outlined four reasons providers need more than a clearinghouse in a new white paper. Download it now.
If you’d like to find out how TriZetto Provider Solutions can help your practice perform better and learn more about revenue cycle management, please call us at 866.969.3666. Or visit us at TriZettoProvider.com.
