4M Superior Solutions
Calculate Your Savings
Compare manual claims filing with electronic submission and see your potential annual savings.
Instructions:
Complete the fields listed under "Enter Your Figures". Do not use decimals.
| Insurance Claims Filing | National Average: Providers Filing Paper Claims | National Average: Providers Filing Electronically | Enter Your Figures | Description |
|---|---|---|---|---|
| Number of Insurance Claims Filed Annually | 5,760 | 5,760 | |
Total number of insurance claims filed during a year. |
| Average Value Per Claim | $180 | $180 |
$
|
Average reimbursement amount received for each claim. |
| Total Annual Insurance Billing | $1,036,800 | $1,036,800 | $1,036,800 | Automatically calculated from number of claims multiplied by average value per claim. |
| Percentage of Rejected Claims | 25% | 1% |
%
|
Percentage of claims that are rejected and require rework or are lost. |
| Number of Rejected Claims | 1,440 | 58 | 1,440 | The number of claims rejected based on your rejection percentage. |
| Amount of Rejected Claims | $259,200 | $10,368 | $259,200 | Dollar value of rejected claims before any recovery. |
| Percentage of Rejected Claims Never Collected | 40% | 40% |
%
|
Portion of rejected claims that are never collected even after follow-up. |
| Total of Claims Never Collected | $103,680 | $4,147 | $103,680 | Revenue permanently lost because rejected claims are not recovered. |
| Savings From Using Electronic Submission | $99,533 | Estimated difference between your current workflow and an electronic filing benchmark. | ||
Your Total Billing
$1,036,800
Rejected Claims Lost
$103,680
Potential Annual Savings
$99,533