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Standardized billing could save $7 billion, study says
Modern Healthcare

Standardizing medical billing by insurers could cut physician office administrative costs by an estimated $7 billion, according to a newly published study in the journal Health Affairs. Researchers drafted the estimate based on an analysis of labor and overhead costs to process health insurance benefits and claims at one large academic physician group practice in 2006. The analysis also included $6 million in lost revenue for wrongly denied claims, according to the researchers’ calculations.