You can submit all of your claims and receive your payments electronically for faster processing and payment using electronic data interchange (EDI).
How to get started with EDI
To find out if your organization already receives electronic payments, check My payment preferences.
Next, find out how to enroll in EDI.
Benefits of using EDI
EDI allows paperless billing and payment for healthcare services and supplies and automates many types of routine inquiries.
The benefits of using EDI include:
- Reduced administrative costs. The average physician’s office can save up to $46,000 annually using electronic transactions for common administrative tasks, according to a report by The Milliman Group (PDF, 96 KB).
- Improved accuracy of billing/posting information.
- Reduced paperwork for your office.
- Improved cash flow.
- Faster claims processing.
- Improved security for protected information.
Using EDI, you can automatically post electronic remittance advice (ERA) to your practice management system, reducing data entry, speeding up patient billing and freeing up staff for more important tasks.
Electronic funds transfer (EFT) allows you to have your claims payments automatically deposited directly in your business account, minimizing your risk of lost checks or lock-box delays.
Maximize your success in 'going electronic' for faster claims processing and payment by using EDI eligibility & benefits and claim status inquiries. By using these inquiries, you will reduce the need to call Customer Service for patient coverage verification and claim status, saving you valuable time, decreasing claim rejections, preventing future denials, and reducing duplicate claims submissions.