Mercury Data Exchange (MDE), a provider of real-time electronic data interchange (EDI) services for dental offices, payers, and vendors, is partnering with Delta Dental of Colorado to offer real-time processing services to their provider networks, the companies announced in a press release.
The EDI transactions available through this partnership will include eligibility and benefits verification, real-time claims adjudication, electronic remittance advice (ERA), and direct deposit through electronic funds transfers (EFTs) for final payment into providers' bank accounts.
Working together to rollout the services to Delta Dental of Colorado's 2,750 providers, the organizations will collaborate on training and support for providers.
"In addition to the administrative benefits, payer and provider alike will improve communications with patients by preparing them for the financial costs associated with their treatment at the time of service as opposed to receiving a bill in the mail at a later date," said Linda Arneson, COO of Delta Dental of Colorado, in the release. "This will also help patients plan for future treatments with a full understanding of their out-of-pocket costs."
Utilizing MDE's real-time adjudication applications will allow Delta Dental of Colorado to reduce paper-based processes and provider inquiry calls related to eligibility, claims, and payment, the companies said. Dental providers will also be able to:
- Receive patient eligibility and co-payment information electronically prior to service
- Submit claims in real-time or batch transactions
- Receive ERA prior to the end of the patient visit for detailed financial responsibility information
- Run tracking reports on submitted claims
- Receive electronic payments
Delta Dental of Colorado plans to use the real-time technology to maximize the value of electronic claims submissions, and as a result increase the number of its providers who submit transactions electronically. The company offers providers daily payment via direct deposit/EFT, which means claims submitted one day may be deposited within providers' bank accounts the next day. This will minimize A/R days for providers and mirrors the way the providers are paid today when they accept credit card payment from their patients. Additionally, ERAs will be made available daily to allow for simplified electronic payment posting in the dental provider's general ledger, the release noted.
