How Your Healthcare Practice Can Benefitted From Various Important Features Of Medical Billing Solution?

 In recent times, the medical billing system has undergone massive changes, several updates and new laws have been enforced with a conscious effort to streamline the process and bring all types of medical organizations under one branch. One should be aware of changes to medical billing guidelines, insurance policies, recent code-related changes, and new government protocols. Today, medical billing is the process of submitting health insurance claims on behalf of the patient to various health insurance payers in order to obtain payment for services rendered in a medical facility. With ever-evolving technologies and their increasing use in healthcare, nothing is permanent. The medical billing process, which was once entirely a pen-and-paper process, has been upgraded to a medical billing solution, a computer application that automates the healthcare billing process. Medical practices and billing companies can use this solution to significantly improve their entire medical billing process, improve reimbursement rates, optimize revenues and support the financial health of their healthcare operations.

 

 

The features that a a technologically advanced medical billing software must have

a)    Appointment Scheduling: - The software must have an inherent appointment scheduling feature that helps the healthcare facility to schedule appointments for their patients very easily. Some of the best scheduling systems accurately display appointments and also show the time frame when the doctors are unavailable. The software must also have a color coding to accurately specify each day’s scheduling.

 

b)   Pre-registration of patients: - This is a time-saving feature that the medical billing and coding software must possess. The feature ensures that all new patients complete intake forms and provide insurance information over the phone, even before their first appointment. Once the information gets updated in the software, it saves caregivers and patient’s time to discuss policies in the healthcare facility before their first appointment and the facility has time to review their insurance policy to confirm whether the patient is eligible for insurance claims before the patient arrives.

 

c)    Automation of electronic claim: - This is more of a benefit than a basic feature. Well-curated medical billing software solutions have an authorization feature that verifies insurance entitlements and enables the billing agent and healthcare providers to process claims according to the requirements of other insurance companies. The software must also help the healthcare facility to have an efficient internal analysis and audit report that can be prepared for unexpected assigned claims for patients.

 

 

d)   The medical billing software must be HIPAA compliant: - For data security purposes, your medical billing software must be HIPAA compliant. As a healthcare provider, you have a legal and ethical obligation to protect your patients' electronic health records in accordance with HIPAA regulations. That means you should only have the very best medical billing software for your healthcare organization that should have the very best security features. The software must include ongoing revamp that reduces coding and compliance risk to increase an organization's profitability and efficiency.

 

e)    Strong medical code search capabilities: - The billing solution should have web-based interfaces that enable strong search capabilities that help medical coders provide the most productive coding that dramatically reduces medical billing errors, accelerates the claims lifecycle and results in maximum reimbursements. It will also help in error free medical insurance claim submission.

 

f)     Credit card payment option: - Many patients nowadays want to pay with their credit card. So, the medical billing software should have an option to accept credit card payments. The feature has been proven to save money for the healthcare facility and make it easier for receptionists to process payment.

 

 

 

So, you must have understood the immense benefits that a medical facility can derive from a well-made medical billing solution. The software solution will allow the medical organizations to customize their medical coding and billing and that way expand profitability, reduce errors and accelerate claim reimbursements.

For more information, visit billrMD today!