Physicians are losing more time and money than ever before due to an unnecessarily complicated medical claims process. However, a new proposal to require standardized electronic claim formats from insurers could help streamline the process.

The Department of Health and Human Services proposed the rule to help cut down on the red tape in the medical billing process and save an estimated $12 billion over the next 10 years.

The new rule could reduce the four hours of physician time and five hours practice staff time spent per week on the excessively complex medical billing system, according to a recent study published in Health Affairs.