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Many practices are turning to electronic claims submission because of the vast time and money savings that result. Processing insurance claims electronically improves cash flow, reduces the expense of claims processing and streamlines internal processes allowing you to focus on patient care. A paper insurance claim typically takes about 45 days for reimbursement, where the average payment time for electronic claims is 14 days. The reduction in insurance reimbursement time results in a significant increase in cash available for the needs of a growing practice. In addition, a practice that submits 200 electronic claims per month may save as much as $100% per month by reducing the internal expenses associated with processing paper claims. Reduced labor, office supplies and postage all contribute to the bottom of the practice when submitting claims electronically.
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