Transaction type
Lower your costs and save time
Electronic transactions can save you time. They also cost less than manual ones. This table shows the cost savings for each of seven common transactions.
Cost savings of electronic transactions
|
|
Manual cost |
Electronic cost |
Cost savings per transaction |
Cost savings for 150 transactions |
|---|---|---|---|---|
|
Eligibility and benefit verification |
$8.57 |
$2.00 |
$6.57 |
$985.50 |
|
Authorization (Precertification) |
$12.88 |
$5.38 |
$7.50 |
$1,125.00 |
|
Claim submission |
$6.33 |
$3.05 |
$3.28 |
$492.00 |
|
Attachments |
$5.54 |
$4.51 |
$1.03 |
$154.50 |
|
Claim status inquiry |
$13.80 |
$3.64 |
$10.16 |
$1,524.00 |
|
Claim payment |
$4.99 |
$3.16 |
$1.83 |
$274.50 |
|
Remittance advice |
$5.67 |
$2.96 |
$2.72 |
$408.00 |
|
Transaction type |
Eligibility and benefit verification |
|---|---|
|
Manual cost |
$8.57 |
|
Electronic cost |
$2.00 |
|
Cost savings per transaction |
$6.57 |
|
Cost savings for 150 transactions |
$985.50 |
|
Transaction type |
Authorization (Precertification) |
|
Manual cost |
$12.88 |
|
Electronic cost |
$5.38 |
|
Cost savings per transaction |
$7.50 |
|
Cost savings for 150 transactions |
$1,125.00 |
|
Transaction type |
Claim submission |
|
Manual cost |
$6.33 |
|
Electronic cost |
$3.05 |
|
Cost savings per transaction |
$3.28 |
|
Cost savings for 150 transactions |
$492.00 |
|
Transaction type |
Attachments |
|
Manual cost |
$5.54 |
|
Electronic cost |
$4.51 |
|
Cost savings per transaction |
$1.03 |
|
Cost savings for 150 transactions |
$154.50 |
|
Transaction type |
Claim status inquiry |
|
Manual cost |
$13.80 |
|
Electronic cost |
$3.64 |
|
Cost savings per transaction |
$10.16 |
|
Cost savings for 150 transactions |
$1,524.00 |
|
Transaction type |
Claim payment |
|
Manual cost |
$4.99 |
|
Electronic cost |
$3.16 |
|
Cost savings per transaction |
$1.83 |
|
Cost savings for 150 transactions |
$274.50 |
|
Transaction type |
Remittance advice |
|
Manual cost |
$5.67 |
|
Electronic cost |
$2.96 |
|
Cost savings per transaction |
$2.72 |
|
Cost savings for 150 transactions |
$408.00 |
Savings estimates are based on the 2024 CAQH Index® From Transactions to Trust: Building Better Care Through Healthcare Automation
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