What are the benefits of filing electronically?
Accuracy – Significantly reduce your chances for receiving an error notice from the IRS. Security – Your privacy and security are assured. Electronic signatures – Create your own personal identification number (PIN) and file a completely paperless return through your tax preparation software or tax professional. There is nothing to mail. Proof of acceptance – Receive an electronic acknowledgement within 48 hours that the IRS has accepted your return for processing. Fast refunds – Receive your refund in half the time. Get it in as few as 10 days with Direct Deposit. Federal/state e-file – Prepare and file your Federal and state returns together and double the benefits you get from IRS e-file.
Answer Filing claims electronically is the first step towards a fully electronic office. Your payments are processed at a faster rate, typically two to four days versus a paper claim that could take up to nineteen days. Receiving audit trails electronically can save you time and money. Electronic audit trails optimize the benefits of electronic claims by providing you with documentation regarding the status of your claims transmission without the delay of mail. Claims transmitted before 3:30 p.m. produce audit trails available the following business day allowing you to correct and resubmit claims that have errors. The ability to retrieve an electronic remittance is also available. If you submit your claims electronically, you are qualified to receive electronic access to patient account information including benefits and eligibility, claims status, fee schedule and payment history information. Additionally, if you choose to participate in all of the Blue Cross electronic options and wo
There are four key benefits Savings – it’s cheaper because there will be savings on (for example) printing costs, paper storage and office manpower Flexibility – Filing electronically allows data to be sent to HMRC at a time that suits the contractor. However, the monthly deadlines for submitting returns do still apply Speed – it’s a lot faster. Information is transferred in terms of hours or minutes as opposed to days for traditional ‘snail mail’. In addition, the electronic submission of forms cuts down on a lot of human intervention along the way. Quality & Accuracy – Filing electronically improves the quality of service since it enables information to go from one computer application to another with no manual intervention. So the likelihood of errors is significantly reduced. (For example, approximately 2% of hand-written forms attract errors at the subsequent keying-in stage. But, by filing electronically, forms are processed at a near 100% accuracy rate.
