Profitability = Faster Claims Filing + Faster Payment
In these tough economic times a medical provider’s billing office needs all the help it can get to successfully – and profitably – remain in business.
The VertigaPM Medical Practice Management Billing Software program allows its users the opportunity to take advantage of electronic claims filing and electronic claims payment to send their claims quickly and affordably, and receive their reimbursement just as fast.
With Electronic Claims filing, insurances that accept electronic claims are able to receive the claims within 24 to 48 hours, and be processed for payment within 2 weeks or less keeping the flow of money circulating back faster.
Electronic Claims filing saves a medical office time and money. First, it reduces the amount of money spent on the purchasing of paper claims, envelopes, postage, and printer ink because it uses the power of the internet to send the claims to the processor – either thru a 5010 compliant clearinghouse, such as VertigaEDI, or directly to the insurer. Secondly, it reduces the amount of time spent by the staff to print, fold, lick and mail the claims. Third, the return time for paper claims filing is normally 4 to 6 weeks for either payment or errors – and that’s assuming that the processor has received them.
Electronic Claims filing provides the medical office an immediate response letting them know that the claims were received, how many were accepted and forwarded to the insurer for processing, and how many need to be corrected – all within a 24 to 48 hour time frame from the date the file was uploaded (a two-step process in the VertigaPM Medical Practice Management Billing Software program when using VertigaEDI!), allowing the medical office staff to quickly fix the errors and send them back that same day.
When Electronic Claims are filed, the insurer can return the payment back electronically, too, thus putting the money in the bank and saving the medical office that much more time. Additionally, an Electronic Payment file (called an ANSI 835 text file) is also sent to the medial office staff containing all of the necessary EOB (Explanation of Benefits) information for the staff to process the payment directly into the VertigaPM Medical Practice Management Billing Software program. Best part of all, the medical office staff can enter the entire EOB electronically in three simple steps using the Payment & Adjustments Wizard and have their EOB posted in minutes thus allowing them to bill the next payer (insurance or patient) that same day.
Taking advantage of the Electronic Claims Filing and Electronic Payment Posting options provided in the VertigaPM Medical Practice Management Billing Software program keeps your medical practice business in business profitably. Visit to learn more!