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The Future is Now...
Everyday, Medical Practices and DME companies across America
are realizing the benefits of Electronic Claims Processing and Electronic Remittance
Notification and Payments (commonly known as EDI. Electronic Data Interchange). It
is estimated that more than 6 billion insurance claims are filed each year or around 500
million claims per month. Of those claims, only 40% are filed electronically.
About 60% are still filed manually or on a paper claim form. Medicare alone receives more than 500 million
claims per year. Paper claims contain errors on them which significantly
reduces payment turn-around time. About 30 to 35% of all paper claims are rejected
due to typos, errors and omissions. Electronic Claims are submitted to the carrier
via modem after being checked for accuracy via error checking and validation
software.
MedNet's audit/edit
process reduces the normal rejection rate of 30 to 35% down to around 1 or 2%. By
checking electronic claims for accuracy up front, the claim is in a payable status when it
is received by the insurance carrier, thus considerably reducing payment turn-around
time.
Meeting
the Needs of Your Business
Given your specific needs, we can provide customized software
solutions. We specialize in providing comprehensive, electronic billing and payment
solutions. Our billing services are designed to meet your individual business
requirements for speed, ease of use, customer service and maximizing profit
potential.
Virtually all Medical
business's can benefit from EDI, including DME, Physician, Nursing Home and Home Health
Agencies. Is your company taking advantage of EDI?
Let us show you how you can benefit from
EDI.
| What are the Advantages of EDI? |
 Timely funds settlement |
More paid claims due to less errors |
| Less expensive than mailing HCFA 1500's |
Reliable cash flow |
| Streamlines the billing process |
No customer is too small |
What about the Future? |
| Congress has passed
legislation on administrative simplification called the Health Insurance and Portability
Act of 1996 (HIPAA). This act signed into law August,
1997 calls for the electronic transmission of core financial and administrative
transactions, including billing, electronic claims processing, eligibility, and payment
and remittance advice. |
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