The software you'll need to submit claims electronically is sometimes part of the practice management system you already use for billing, scheduling and other business functions. Expect to pay about 40 cents per claim to file through a clearinghouse. If those costs seem high, consider the benefits. File claims frequently. If billing personnel are not getting claims out the door within three to four days after service has been rendered, they are taking too long.
Some physicians like to file claims even more frequently.
Frederick Internal Medicine, a four-physician practice in Frederick, Md., has filed daily for the past five years. If I file daily, there's not as much paperwork. Instead of getting a check once a week from Prudential, I get checks daily. Our accounts receivable stays low. Brian Kane, CPA, president of HealthCare Advisors Inc. in Annandale, Va., suggested setting up a grid with the insurance companies across the top and the main 10 to 15 CPT codes on the left side.