Real-time electronic claims processing,
for
FREE!
Earn
residual
income
from clearinghouse commissions!
Clearinghouses and how they
work... Billing Services typically submit claims electronically
for real-time processing at a national clearinghouse
(there are dozens of them
nationwide). The
clearinghouse scrubs,
formats and submits claims in real-time to hundreds of insurance companies for payment. The reason
clearinghouses are important is
they have the ability to meet the specific data transmission requirements of
every insurance company that
accept electronic claims. This
task can be time-consuming to perform
independently on your own. You would need to
communicate electronically and individually with hundreds of insurance companies,
which can be a tedious
process. Instead, you only have to communicate with a single clearinghouse.
For this, you pay a small
fee to some clearinghouses
but with some other
clearinghouses, this service
is FREE!
You may wonder, why FREE?
In order to understand this,
it's important to know how
clearinghouses make the bulk
of their income.
Clearinghouses receive
rebates paid by the
insurance companies for
every claim that's submitted
electronically to them.
Insurance companies do this
to encourage electronic
billing and cut the cost of
manual processing. Most
clearinghouses make
additional income by
charging consumers (doctors
and billing services) a
small fee as well. So some
clearinghouses make money
from both side of the
equation: (1) From insurance
company rebates, and (2)
From consumers (end-users of
various software, like
doctors' offices & billing
companies). In recent years,
several reputable
clearinghouses decided to
offer this service FREE to
the consumer side in order
to attract higher volume of
claims submissions and
capitalize only on the
handsome rebates paid by
insurance companies.
Now, the majority of the
clearinghouses that charge
consumers, the fees they
charge are typically small
and reasonable. For example,
some charge 35 cents per
claim and some charge a flat
monthly fee that's around
$50 per month per account,
on the average.
With
ClaimTek's software, you're in control to decide which clearinghouses fit your
need the best. You are free
to make many important
decisions for your business.
Our software allows you to:
Submit claims
electronically, directly,
and FREE to several
clearinghouses
Submit claims electronically
and directly to several
clearinghouses that charge
reasonable fees
Submit claims electronically
and directly straight to
insurance companies (You
may elect to do this if you
have a doctor that deals
mostly with one or two
insurance companies. i.e.
Medicare and Blue Cross).
You can go direct and bypass
the clearinghouse
altogether!
Your decisions to choose one
clearinghouse over another
depend on several factors.
You may sign up a client in
a different state and some
insurance companies may not
be
on the list of payors with
your current clearinghouse.
In this case you may want to
choose another clearinghouse
for this new doctor account.
Another reason can be
customer service. If you
become dissatisfied with one
clearinghouse, you need to
be in a position to choose
another without interrupting
your business or being
forced to change your
software. Also, a
clearinghouse may increase
their fees. If they're your
only choice, you cannot go
elsewhere.
Keeping your costs under control is a
key element for small business
success.
When you have your own business, controlling expenses
is often a key element for
reaching a good level of
profitability. You also need
flexibility and the freedom
of choice. After all, that's
one of the main benefits of
having your own independent
business. You should be
concerned if a
company you're interested in
doing business with allows
only one choice for a
clearinghouse. We advise you
to analyze and learn about
all fees before making a
decision.
We say this because we
learned some competitors
that offer basic web-based
software charge you nearly
$1.00 per created claim,
which is far above industry
standards of 35 cents.
What's more, they charge you
another 95 cents if you
discover an error, correct
and re-save the claim! Most
clearinghouses that charge
per claim basis, do so per
submitted claim not
per created claim. You don't
pay again if you correct and
resubmit.
If you're looking to
start a new billing service
business without prior
experience, we advise
you to be alert to this kinds of secret business tactics.
High fees and limited
choices are not the norm in
this industry and will hurt your business.
Compare costs for yourself!
Based on the national average of 440 claims per month per doctor, when you have
10 doctors, you’ll be processing roughly 4,400 claims per month. With ClaimTek,
your clearinghouse fees will be free or around $500 if you go with a
clearinghouse with monthly
fee. Again, this is in sync with the
industry standards. With some
competitors, you’re
looking at a cost of around $4,400 per month! When you have 20 clients, your
fees will double to $8,800 per month while with ClaimTek it would be around
$1,000 or much less in many cases. Take a
look...
Number of Doctors
(based on the national
average of 440 per month)
Number of claims per month based on
the national average
ClaimTek (FREE or average of $50 per
doctor/month).
Browser-Based Competitors charging $1 per claim!
1
440 claims/month
$50
$440
2
880 claims/month
$100
$880
3
1,320 claims/month
$150
$1320
4
1,760 claims/month
$200
$1,760
5
2,200 claims/month
$250
$2,200
10
4,400 claims/month
$500
$4,400
20
8,800 claims per month
$1,000 or less
$8,800 cost
per month
Money out of your pocket
and into the company's!
ClaimTek claims processing is fast and inexpensive. you can send
claims direct & FREE to many insurance companies.ClaimTek will save you
thousands of dollars each month adding tens of thousands to your bottom line
each year.
Does ClaimTek benefit from clearinghouses fees? Can I benefit as
well?
Yes, ClaimTek receives commission of a few cents per claim from most
clearinghouses. We've built close relationships with reputable clearinghouses to
provide you with several choices and ensure that you receive top notch service.
However, you're not limited to the clearinghouses that we recommend. Our
software submits claims in a compliant EDI format that's accepted by all
clearinghouses.
ClaimTek also benefits from Merchant Transaction Processing when our clients use
the credit card module of our software.
As a reseller of our software, we can set you to earn monthly
residual income from our approved clearinghouses and merchant services when your doctor clients use our software to
submit electronic claims and credit card transactions! This can amount to thousands of dollars monthly when
you have a healthy client base. Such income is paid as long as you have your
business, even for a lifetime!
As you can see, while ClaimTek has vested interest in your success, your
relationship with ClaimTek is built on mutual benefit, mutual respect, and
mutual balance. You're charged reasonable fees for services, and allowed to
participate in generating residual income as you grow your business.
Below is a list of some clearinghouses on our recommended list:
Gateway
EDI: $86/mo Flat-Fee ENS-Health
| $60/mo Flat-Fee ET&T
- 35 Cents Per Claim
Automated Clearing House | For
Electronic Fund Transfer Service (EFT)
The ACH clearinghouse is where the Electronic Fund Transfer EFT transactions are sent. The Automated Clearing House (ACH) is the electronic network to which 95% of the nation's banks belong,
including the Federal Reserve.
For ACH, there is a one-time fee of $50. The cost per transaction starts at $0.45 but can be reduced to $0.23 depending on volume (this is explained in our Medical Billing Manual). Once you start processing transactions, a $25 monthly fee applies. There is no additional setup fees for new account or any annual fees.
Fees to all clearinghouses are not due until you start processing claims or EFT transactions.
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Real-time electronic claims processing,
for
FREE!
Billing Services typically submit claims electronically
for real-time processing at a national clearinghouse
(there are dozens of them
nationwide). The
clearinghouse scrubs,
formats and submits claims in real-time to hundreds of insurance companies for payment. The reason
clearinghouses are important is
they have the ability to meet the specific data transmission requirements of
every insurance company that
accept electronic claims. This
task can be time-consuming to perform
independently on your own. You would need to
communicate electronically and individually with hundreds of insurance companies,
which can be a tedious
process. Instead, you only have to communicate with a single clearinghouse.
For this, you pay a small
fee to some clearinghouses
but with some other
clearinghouses, this service
is FREE!
Submit claims
electronically, directly,
and FREE to several
clearinghouses
Gateway
EDI: $86/mo Flat-Fee
ENS-Health
| $60/mo Flat-Fee
ET&T
- 35 Cents Per Claim