Healthcare providers in New Jersey will streamline electronic healthcare claim processing thanks to a new rule from the federal Department of Health and Human Services, according to NJ Spotlight.
The federal Centers for Medicare & Medicaid Services will require medical practices adopt electronic transfer records and electronic remittance advice by Jan. 1, 2014. The shift to electronic records should produce savings by reducing paper, printing, postage and processing time.
CMS estimates electronic records will save the industry between $300 million and $3.3 billion over the next decade.
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The federal Centers for Medicare & Medicaid Services will require medical practices adopt electronic transfer records and electronic remittance advice by Jan. 1, 2014. The shift to electronic records should produce savings by reducing paper, printing, postage and processing time.
CMS estimates electronic records will save the industry between $300 million and $3.3 billion over the next decade.
More Articles on Billing, Coding and Collections:
Georgia Medical Programs Over Budget by $100M, Overpaid $30M
Surgery Center Coding Guidance: Endoscopic Nasal Sinus Dilation
CMS to Determine New Payment Rates for Tumor Cell Testing