Status of claims and remittance advice
Categories: HIPAA, HIPAA Guide
Written By: admin
When medical insurance claims which have not been processed are sent once again to the medical insurance company, sometimes a denial could be received since the claims have been filed for a second time and a duplicate copy has been created. This is only likely to cause more paperwork for the person who has to receive his medical insurance claim and also for the medical insurance company.
The Health Insurance Portability and Accountability Act of 1996 has devised a system where the status of the medical insurance claims, which have been made, can be found out with the help of the electronic media. This will help in saving a lot of time and effort, which is involved in checking out the status of the claim after sitting for a long time with the telephone. Apart from finding out the status of the claims, you can also find out details on the status of the processing of the payment.
This will also reduce the number of medical insurance claims, which are being denied by the health insurance companies. This will also help the staff to concentrate more on other activities, which will help in generating a larger amount of revenue for the company. When the status of your medical claims can be found with the help of the electronic media, you can also spend the time, which is usually used in enquiring the status of the medical claims on more productive activities. If one set of medical claims will be paid out within a time period of three weeks, then the second set of medical claims can be filed when the fourth week has started.
The electronic remittance advice, which is being provided under the rules, and regulations, which come under HIPAA, has proved to be very valuable to all the covered entities. It saves a lot of time and effort for all the medical staff that are involved in the running of the health care center. It will also increase the efficiency and the punctuality within which the reports are being submitted. Since the time lag between the posting of the bills and the payment is reduced, the possibility of the open accounts being rebilled once again will also reduce automatically. When many bills whose claims have not been approved have been submitted once again, the medical insurance claim will be denied since duplicated bills have been submitted.
Any kind of adjustments, which are taking place during the process of billing, will also be posted. When the information has not been received and updated at the right time, then the people who are involved in the process of data entry will not make the entry stating that there are no payments to be made and this will result in a very large amount in the ‘accounts receivable’ section. This will also make it more difficult to find out as to exactly, which are the medical claims, which are being denied by the medical insurance company.
