Leading edge web-based medical billing software empowers medical organizations to personalize their billing and coding procedures to increase profitability, prevent errors and expedite claim reimbursements. Although every practice and facility needs flexible medical software solutions that allow personalizing the billing processes and procedures to fit the enterprise, there are some common feature every medical organization needs. Below are three key features that are critical for financial health and stability.
Ability to quickly resolve recurrent error patterns
Comprehensive, accurate medical records are the key to “perfect” billing and coding. Medical billing software solutions with web-based interfaces enable providers to access stored …show more content…
Ideal solutions allow providers to post charges at the point-of-care to expedite filing. Software solutions enable insurance eligibility verification and allow providers or billing agents to process claims according to different insurance company requirements. For example, some carriers require office notes as supporting documentation for certain conditions or diagnosis codes. Verifying coverage limits, co-payments and exclusions prior to coverage improves collections by identifying self-pay requirements at check-in. Along with automated claims submission, electronic tracking features allow financial teams to monitor claim status, improving cash flow management activity. Another benefit for administrators is electronic claim submission make internal review and auditing more efficient as reports can be generated to randomly assigned claims for internal audit based on practice or patient population criteria.
Monitoring Risks Management and Compliance
Healthcare organizations must continuously review billing processes and procedures to ensure they are following best-practices. Medical billing software that includes frequent updates that mitigate coding and compliance risks strengthen the health and profitability of the enterprise. Whether the organization is participating in the Meaningful Use Incentive Program or concerned about protecting patient privacy and data security,
Ability to quickly resolve recurrent error patterns
Comprehensive, accurate medical records are the key to “perfect” billing and coding. Medical billing software solutions with web-based interfaces enable providers to access stored …show more content…
Ideal solutions allow providers to post charges at the point-of-care to expedite filing. Software solutions enable insurance eligibility verification and allow providers or billing agents to process claims according to different insurance company requirements. For example, some carriers require office notes as supporting documentation for certain conditions or diagnosis codes. Verifying coverage limits, co-payments and exclusions prior to coverage improves collections by identifying self-pay requirements at check-in. Along with automated claims submission, electronic tracking features allow financial teams to monitor claim status, improving cash flow management activity. Another benefit for administrators is electronic claim submission make internal review and auditing more efficient as reports can be generated to randomly assigned claims for internal audit based on practice or patient population criteria.
Monitoring Risks Management and Compliance
Healthcare organizations must continuously review billing processes and procedures to ensure they are following best-practices. Medical billing software that includes frequent updates that mitigate coding and compliance risks strengthen the health and profitability of the enterprise. Whether the organization is participating in the Meaningful Use Incentive Program or concerned about protecting patient privacy and data security,