| | Case Study |
|
| Paper Claims |
Electronic Claims |
| 45 - 120 days |
7 - 21 days |
| Up to 30+% rejection |
Less than 2% rejection |
| Up to $2 / Claim including postage |
$0.50 / Claim |
| Some errors |
Very Accurate |
| Extensive Follow Up |
Limited Follow Up |
|
|
IF
- Average daily patient volume is 16
- 60% of patients are covered by insurance, and
- The office is open five days a week, 48 weeks per year,
Then
- Total annual insurance claim volume is 2,304.
- Estimate $29,000 in annual salary costs, based on the average wage for one full-time billing assistant, with part-time utilization of a clerk/roving assistant.
Lets Compare-
This example is based on:
- 6 minutes working time on paper claims and 2 minutes for electronic claims,
- Current postage rates,
- Trading partner and clearing house fees up to $2 per claim, and
- OHMS™ fees of $0.50 per claim plus monthly charges.
| Annual Costs |
Paper Claims |
Electronic Claims OHMS™ |
| Staff time for processing and submitting claims |
$3210 |
$1070 |
| Claim Submission and mail postage |
$4618 |
$2304 |
| Staff time for posting, follow-up and claims resubmission |
$2140 |
$21 |
| Claim resubmission and mail postage |
$65 |
$0 |
| Estimated Costs: |
$10,023 |
$3,395 |
Estimated annual savings by using electronic claims = $6,628
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