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Federal rule to streamline electronic fund transfers and other billing transactions

from American Medical News

New operating rules regulating electronic claims transaction services in the healthcare industry are aimed at enrolling more physician practices in these time- and money-saving programs, officials say. The Centers for Medicare & Medicaid Services published an Aug. 7 regulation applying uniform business practices for electronic fund transfers and remittance advice transactions. The rule establishes uniform enrollment standards for health insurers so physicians and hospitals can receive transactions electronically from multiple payers. The simplification rules could make the billing process more efficient and save doctors and hospitals $4.5 billion over 10 years. more

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