Electronic medical billing is defined as the process of electronically submitting and following up medical claims with health insurers to receive payments for the services offered by healthcare service providers.
Electronic medical billing comes with several benefits, among them:
- Automatic process – When patients’ details are entered into the Electronic Medical Register, it is linked up to the billing system automatically. This process eliminates the ever-present redundancy and rapidly disseminates information to the necessary modules.
- Real-time check – an Electronic Medical Register allows healthcare providers to instantly check the insurance eligibility of a patient.
- Accuracy – healthcare managers get access to a range of reporting charts that they use to link the bills to their accounting systems.
- Cost-effectiveness – Electronic Medical Billing is more cost-effective than manual billing. Electronic records require less staff and take up less space compared to paper-based medical records.
Digitizing healthcare provider-to-payer relationship
In the modern digital world, eliminating the need to file paper medical claims to medical insurers offers healthcare providers along with their patients a golden opportunity for improvement. It has been found that manual medical claims in the US cost 74 cents, while electronic bills cost 26 cents only, which is a whopping 63% improvement. Therefore, savings for insurers can be such significant with electronic submissions.
Digitization comes with other benefits:
- Quick intervention by the insurance company
- Improved customer experience
- Quick identification of fraudulent claims
- Improved purchasing power by the insurance company
Actisure Claims: Low costs and increased productivity
At the core of our insurance claims management platform is the Actisure Claims module. This is perhaps the most sophisticated adjudication module available, which has successfully adjudicated and successfully paid millions of claims ranging from simple claims to classic in-patient claims worth hundreds of thousands of dollars. Leveraging sophisticated Microsoft Windows Server technologies along with an open service architecture, and stemming from the large development teams in the industry, we can provide an unattended automatic adjudication of claims from anywhere on the globe.
Actisure open services support virtually all players in the medical insurance value chain:
- Human Resource Departments