Benefits of Electronic Claim Submission Over Paper Claims

Is an electronic claim submission system better than our traditional paper claim processes? The rapid developments in technology are providing industries the innovative solutions that they need to improve their workflow. For example, throughout history, organizations have primarily relied on paperwork for most of their business transactions, audits, and information. However, with the option for more efficient methods of processing information, modern businesses can now utilize digital alternatives to our accustomed paper trails. In short, we now have more incentives to process most of our data electronically because it’s simply faster and more efficient compared to paperwork. 

For example, an electronic claim submission system has an undeniable edge over submitting paper claims. That’s because the processing power of our modern computers significantly outguns the old process of handling paper claims. And that’s not just for claims. Businesses in the healthcare industry are now adapting to modern technologies for their operational needs. In fact, a survey from Google found that modern technology such as mobile apps have positive impacts for hospital searches. The study notes that 84 percent of patients who found hospitals used both online and offline sources as reference. Additionally, 44 percent who searched for hospitals from their mobile phones scheduled appointments. As a result, hospitals that embrace these technologies make their business more accessible to patients. Additionally, these hospitals increase their revenue while they improve their patient flow simply through technology.

Change can often be intimidating, especially when you’re used to dealing with paperwork. Your business may even be working fine even without the need to upgrade to electronic systems. However, even though your paper claim system is still working great for your operations, you shouldn’t rule out the fact that the industry is changing. And regardless if you’re willing to keep up or not, most businesses are starting to shift to more advanced systems. 

An article from the World Economic Forum (WEF) predicts that by the year 2022, businesses will rely on computers to process 62 percent of their business data. Additionally, the rate and impact of computers may significantly increase after the said year. So if you want to stay competitive within the next few years, you better start incorporating more computer processes in your workflow. In fact, you can start by upgrading to an electronic claim submission system. 

Paper Claims vs. Electronic Claim Submission

First of all, paper claims tend to need a lot of manual work and time. Which means that you’ll either have to hire more workforce or pay more for your staff to do extra shifts. Basically, the more paperwork you have, the more staff issues you’re going to face. With a paper claim setup, you generally need five to seven weeks of turnaround time to process an entire claim. But when you process and bill your claims electronically, you’ll only need around two weeks to handle your claim process. As a result, you’ll drastically save more time and energy when you process claims electronically. Additionally, the need to process claims faster than the traditional paper claim system only increases when you have more clients, providers, and patients to deal with. 

Benefits of an Electronic Claim Submission System

With an electronic claim submission system, you won’t have to worry too much about turnaround time, manual work, and everything else involved with paper claims. That’s because software for claim submission and processes can handle most of your work for you. When you upgrade to a claim software, you can process claims faster and enjoy faster reimbursement rates. Handling claims electronically also means that you can cut paper claim related costs such as paper records, storage space, printing, postage, delivery, and staff work. So when you handle claims electronically, you won’t really have to worry about hard copies anymore. Everything you need for your claim transactions is easily available with the right claim-processing software. And if you’re convinced about upgrading to a claim software, you’re in luck because you also have the option to get integrated systems like QuickCap 7 to help your business. With an integrated software, you can get more than just claim-processing tools. Software like QuickCap can give you everything else that businesses like IPAs, MSOs, PPOs, and payer organizations need, such as tools for electronic data interchange (EDI) transactions, authorization and referral approvals, provider credentialing and eligibility, data analytics, audits, and more.

QuickCap’s Electronic Claim Submission Features

QuickCap 7 is a web-based application that you, your staff, and your associates can use to improve your entire workflow. With QuickCap, you can easily process claims from different sources, such as scanned claims, EDI files, or electronic claim submissions. It’s fully flexible to handle all your claim-processing needs so you can send claims, process them, and even edit them all in one system. 

QuickCap’s claim features allow you to enjoy the following:

• Easily submit and review claims online
• Automate your claim adjudication processes
• Increase the accuracy of your workflow
• Transact claims with clearinghouses with a touch of a button

Additionally, aside from the extensive claim features, QuickCap has more to offer. You can easily transact EDI files from trading partners, configure health plans and provider contracts, access credentialing and eligibility tools, and more. Find out more of QuickCap’s electronic claim submission features.