New standards for electronic funds transfers in health care will save up to $4.5 billion in administrative costs for doctors and hospitals, private health plans, states and other government health plans over the next ten years, according to estimates published last week by the U.S. Department of Health and Human Services.
Required by health care reform, the new industry-wide standards allow health providers to use electronic systems for determining eligibility for health coverage and checking the status of a health claim.
