Healthcare Billing and Management Association finds ways to eliminate administrative redundancies
LOS ANGELES, May 20, 2013 /PRNewswire-USNewswire/ -- In the healthcare industry, saving time means saving money for everyone involved in the lifecycle of a medical claim. The most influential revenue cycle management association, Healthcare Billing & Management Association (HBMA.org), has been advocating for immediate administrative simplification in the healthcare industry, and as such, supports CAQH's new electronic funds transfer (EFT) tool for providers to facilitate the enrollment process.
"This is critical in saving both time and money for medical billing professionals and providers across the nation. Ultimately this will allow providers to focus on delivery and coordination of patient care, and allow our members (professional billing services that support providers) to concentrate more efficiently in areas surrounding claims reimbursement," said Sherri Dumford, HBMA Director of Operations. "The tool provided by CAQH allows providers a single, secure portal between payors and providers enabling the provider to register one time for EFT enrollment and eliminates administrative redundancies, thus reducing costs associated with multiple paper-based applications for EFT set-up."
Beginning January 2014, all payers will be mandated to offer EFT under the requirements of the Patient Protection and Affordable Care Act (ACA) and Medicare will only reimburse providers through EFT. "The new CAQH tool will make it easier for payors to comply with this upcoming EFT mandate and reduce the burden on billing services and providers," added Dumford.
In addition to EFT, HBMA's Commercial Payor Relations (CPR) committee has been holding on-going meetings with Aetna, UnitedHealthcare, Wellpoint, CIGNA and others, to find additional solutions to further administrative simplification efforts in the areas of ICD-10, provider enrollment, the appeals process, and payment reform models. The CPR committee defined four significant areas of focus to be discussed: provider enrollment, appeals and denials, payment reform, and ICD-10. "The outcome of these meetings is that the payors are willing to collaborate in key areas to achieve marked improvements in the processes that HBMA members, and their clients, deal with daily," stated Dumford.
For more information about any of these programs, please go to www.hbma.org or call 1.800.640.4262.
The Healthcare Billing & Management Association (HBMA.org) is a key stakeholder in a $38 billion physician RCM industry, and represents more than 30,000 employees at well over 700 third-party medical billing firms. Annually, HBMA companies submit more than 350 million initial claims on behalf of hospital-based physicians, office-based physicians and other allied healthcare providers. As the only trade association representing the interests of medical billers in Washington, D.C., HBMA works with legislative stakeholders and federal agencies to improve the business of medical billing and the practice of healthcare. HBMA members provide a variety of business support services for the nation's physician practices, and the association provides over 26 educational opportunities annually for its members. HBMA members process over 30% of all physicians' insurance claims. A non-profit, member-led trade association, HBMA is celebrating its twentieth anniversary this year.
SOURCE Healthcare Billing & Management Association