Hard as it may be to believe, a lot of healthcare industry paperwork remains, well, on paper despite the best efforts of all concerned to move everything over to standardized digital formats. Efforts are underway, but these things take time to figure out a standard that all will accept. After that, it is still necessary to propagate it and the necessary software and hardware throughout the healthcare industry.
Until that happy day arrives, most medical offices are stuck with the need to translate various paper forms such as an EOB, or Explanation of Benefits, into whatever digital format that office is currently using. This obviously eats up a lot of staff time in menial functions.
Workaround solutions are available, however, in the form of various EOB converters which scan and read the paper format document and then translate that image over into a standardized digital format which is compatible will all of the other records of the office.
This is still not the perfect solution and still requires some administrative time, but it is a great leap forward compared to the tedious process previously used. All systems which convert EOB to digital do not simply create a scanned image of the original file. Instead, they extract the data contained therein and transfer it onto a new and increasingly standardized form which allows personnel to use ordinary digital search tools to find and collate information rapidly.
Since the purpose of an EOB is to spell out how much of a particular bill is being paid by the insurance company, fast processing of these records allows offices to quickly bill the patient for the balance due. The faster these bills can be generated, the quicker remittances can be received.
Another benefit of an automated EOB converter is that the small percentage of human error found in any manual form of data entry is eliminated. This also speeds payment since any errors in billing will need to be rectified before any actual payment can take place. Conversely, if payment is made on an erroneous invoice, it can lead to all sorts of complications and hard feelings, perhaps even serious underpayment.
All of these are issues which the current cumbersome system can generate. All of them can be easily eliminated by deploying an EOB converter. Just the savings on manual data entry costs will easily pay for the system over time as well as yielding actual savings. Meanwhile, the increase in turnaround time on the billing cycle will also provide even more benefits.
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