How An Efficient Electronic Medical Claims Submission Software Can Improve Your Medical Billing Efficiency?

The most important aspect in RCM (revenue cycle management) is the timely submission of medical claims which have an undeniable impact on how much and when the providers are paid. Easier said than done, however, there are numerous hurdles to the timely filing of claims that are encountered in a healthcare facility and by their staff on a daily basis. The biggest hurdle to timely filing is claim resubmission, when the claim is rejected and resubmitted due to insurance company error or incompetence. Usually, an in-house staff has to juggle numerous issues and interact with numerous payers. This causes delays in the submission of claims and often induces human errors. But it has been proved that investing in process automation will certainly improve the quality and productivity of claim submission. Modern electronic medical claims submission software accelerates the revenue cycle and improves the overall claims filing process, lowers costs, saves caregivers time, increases patient payments and caregiver revenues, and improves patient satisfaction.

 

Now the most important question, what are electronic medical claims?

Electronic medical billing is a process by which a healthcare provider or third-party billing company electronically submits a bill or claim to a patient or third-party payer (usually an insurance company). Here the claims are submitted electronically, which automatically reduces the chance of claim errors and improves accuracy so that claims are processed faster. The medical billing software with an electronic claim submission feature often does not allow medical coders to submit invoices without filling out all the important information. The software also includes scrub tools that check for common errors in the claims submission process. So the common mistakes like misspelled words or blank spaces are avoided with electronic claim submission. Error-free claim submission automatically results in faster claim reimbursement.

 

Benefits of electronic medical claims submission

·         Great time saver: - Filing claims electronically through medical claims software reduces the time and resources the clinicians spend on manual administrative tasks. Electronic medical claim processing allows physicians to spend more time with their patients and provide better care. 

·         It reduces postage, supplies, and mailing expenditures: - Filing claims electronically reduces stationery and postage costs and eliminates the storage requirements for paper invoices. It also requires fewer medical office workers who no longer have to manually print and send invoices and follow-up messages. In this way, the postage, supplies and postal costs for the healthcare institution are reduced.

·         Pre-audit feature lessens potential errors: - Electronic claim submission pre-audit claim fields automatically to detect potential errors involving medical billing and coding before submitting to a payer. Patient data from electronic health records can be shared with billing systems, enabling clinicians to generate more accurate claims to insurers. Data sharing also eliminates human errors associated with re-entering billing sheet charges and entering incorrect codes, ensuring error-free claims submission.

·         Transparent communication improves patient satisfaction: - By submitting electronic claims, healthcare providers can communicate more proactively with their patients, who can receive their bills on their smartphones, tablets or laptops as per their choice. Through transparent communication, patients receive more detailed information about their medical bill or payment options. The process removes the doubt about the authenticity of the medical bill from the patient’s mind. The transparency of information improves patient satisfaction.

 

 

From what we have discussed until now, you should have a clear idea why more and more healthcare facilities in the United States are opting for electronic medical claims submission from a reputable cloud-based medical software solution provider.

If you wish to have more information on this, contact billrMD now!