What is the turn around time from claim submission to receipt of reimbursement?
Providers can now realize faster reimbursement then ever before. In an effort to encourage Providers to submit electronic claims, Medicare and Medicaid are rewarding Providers by processing claims within 14 days of claim submitted electronically. Several of the major commercial carriers have also followed suit, by processing claims within 1-3 weeks following submission. Unfortunately, not every payer accepts electronic claims, and reimbursement time can still run between 1 to 2 months depending on the payer’s capabilities. To determine an overall average reimbursement time frame, BAW will consult with the Provider to evaluate his or her payer mix.
