The Medical Group Management Association (MGMA) blog has an online petition asking for your support to streamline health insurance identification cards. Project SwipeIT calls for the issuance of machine-readable cards (with a magnetic strip much like a credit card) by 2010. The cards would save providers time and money by eliminating hassles of photocopying insurance cards, entering patient data into your computer system and more.
If you go to www.SwipeIT.org you'll find a running calculation of money lost since Jan. 1 (at 10 a.m. June 2, the tally was $435 million and some change). The MGMA estimates $1 billion will be wasted this year.
So, who stands to benefit from standardized IDs? "Everyone," the MGMA says. "Patients will have less hassle from denied claims. Providers will save money on labor and copying, and will get paid more quickly and accurately. Insurers will save by doing less manual work on rejected claims. Ultimately, employers should see savings from less growth in health care costs."
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