Choosing A Medical Billing Solution For Your Clients

Medical billing allows insurance companies to reimburse patients or healthcare providers for the right amount. Medical billing can be a tricky process, as billers are responsible for adhering to legal guidelines and standards and ensuring that claims are free from errors.

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Overview on medical billing software

Overview on medical billing software

Medical billing provides insurance companies to reimburse patients or healthcare providers to do so with the right amount. Medical billing can be a tricky process, as billers are responsible for adhering to legal guidelines and standards and making sure that claims are free from errors. Approximately 80% of medical bills contain coding mistakes, and the process of following up on rejected or denied claims can be a timely one. It can result in reduced time spent with patients, so, therefore, it’s vital that medical billing is done correctly and that it is highly accurate. 

Medical billing software, such as Carepatron, can make this process easier by using integrated medical billing templates and resources to ensure that you include all essential information. Choosing a medical billing software solution can reduce resubmission times, coding, and billing errors and allow you to provide more significant support for your patients. 

What does medical billing software do?

Medical billing software translates the medical billing process into an electronic form and provides opportunities for healthcare businesses to improve their reimbursement rates and revenue. For example, medical billing services offer management for various workflow aspects, from clinical documenting, coding, and appointment scheduling, and so, many practices are beginning to transition towards outsourcing. 

Several companies, such as Carepatron, provide ready-made resources to make it easy for you to incorporate medical billing processes into your practice and in a way that allows for a high degree of accuracy. This way, when you submit claims, they are more likely to be accepted, and more time can be spent on providing care for your patients.

Seven tips for choosing the perfect medical billing solution for your clients

To ensure that your medical billing solution meets the needs of your healthcare practice, you need to consider the following seven tips:

  • HIPAA Compliance - Medical billing software must comply with the Health Insurance Portability and Accountability Act. This way, your patient data remains confidential and allows patients to access their information shared with you. Being HIPAA compliant means having a high-quality and highly secure system. For instance, this may mean using encryption or firewall installations. 
  • Is it within your budget? - The software that runs medical billing services can get expensive, and each company offers differing price options. You must choose a platform that meets the needs of your patients and business goals and is at a reasonable cost. It needs to offer a variety of features to ensure you’re also getting value for your money. For example, Carepatron offers a paid and free plan that works towards different needs. 
  • Insurance verification - Your medical billing software should check the insurance companies that each patient is with. This should be up-to-date, ideally real-time, and it saves you time in not having to wait for information to be sent over. For instance, if a patient comes in with an injury and needs coverage, you must access their insurer to be reimbursed. Easy access means you can spend more time attending to patients and providing care. 
  • Third-party flexibility - The software should be able to integrate third parties easily, with the software can work with administrative staff and other departments well. A seamlessly integrated system will mean less back-and-forth across personnel and minimizes the risk of missing information. If a doctor needs access to notes from another healthcare provider, this should be easily accessible. 
  • Network and device access - The medical billing software should work on devices such as laptops, tablets, and desktops, as this allows for greater versatility in your healthcare clinic. This also means you can pick up medical billing information from multiple places. 
  • Record access - Accessing client information, such as their medical history, from any location means that you can have an efficient system that integrates patient data across platforms. For instance, reviewing patient medical history and purchases of prescriptions from anywhere reduces the need to go back and forth. 
  • Turnaround time - Knowing the turnaround time of all billables allows you to make informed decisions about your finances. For example, you can gain a better picture of the financial health of your healthcare business regarding costs and revenue. This way, your financial resources are being used efficiently and are optimized in a way that prioritizes the care of your patients and personnel.
Seven tips for choosing the perfect medical billing solution for your clients
The dangers of picking the wrong medical billing company

The dangers of picking the wrong medical billing company

The decision to outsource medical billing services has proven benefits, however, choosing the wrong medical billing software can result in harsh consequences for your healthcare practice. 

It’s possible that the medical billing company may not have any existing coders or billers trained in your specialty, meaning it could take additional time to get them up to speed. The billers or coders that they do provide may also be pre-picked, meaning you won’t get a chance to assess other clients that may be better suited. In some cases, medical billing companies may not prohibit you from accessing their system to look at patient data, which can be concerning. Running your reports may be restricted too. 

It’s also likely that you may not have heard of the billing software they use, which can be troubling when you cannot research its practices or how often it is updated. This is particularly troubling when medical billing companies are also unlikely to use other software as this requires additional time and learning. As for its service, turnaround guarantees, such as daily processed claims, may not be solidified. This can be difficult when daily reports on adjustments or payments need to be provided, and they may not follow through on this. In rare cases, some medical billing companies cannot integrate electronically and resort to superbill methods, which can be easily frustrating with so quickly done through EMR orders.

Opt for medical billing software that meets all your needs: Carepatron

Carepatron is the perfect solution to your medical billing needs and avoids all the pitfalls of outsourcing medical billing services. For instance, Carepatron provides automation of medical billing and coding with high-end software used by 10,000+ healthcare professionals and various other features. It offers explicit resources to meet the needs of physical therapy, mental health, and physiotherapist professionals and supports practitioners with a seamless workflow. 

With Carepatron, you can manage tasks, schedules, and reminders all from one app and allow for online payments and clinical documentation composition and storage. The client portal also allows patients to view data and information quickly, so practitioners and patients have a high degree of transparency. With a paid and free option offering a variety of features for both growing and established teams, Carepatron is a leading option when it comes to medical billing software for your healthcare practice. 

Choosing the right medical billing software results in profitable practice

When it comes to choosing the right medical billing services, it’s essential to consider various factors. For profitable healthcare practices, you must ensure that medical billing software becomes an asset to your clinic and elevates the quality of your workflow. Medical billing software should be able to identify errors, and promptly notify you to avoid losses, and help you understand why claims may have been rejected or denied. Reducing mistakes should be a core component of medical billing software to increase the profitability of your practice and help keep track of your information.

Medical billing software should also connect to a remote billing office, as this way, you can employ focused medical billing staff that enables you to work on the day-to-day management of the office. Doing so will also allow for improvements in the efficiency of your practice, which data storage can also contribute to. Having data stored privately, in line with HIPAA regulations, means that digital data is secure and can be accessed anywhere. Software platforms, such as Carepatron allow you to protect patient information while prioritizing their needs and fulfilling medical billing demands. 

Whatever you decide, it is crucial to evaluate and assess medical billing platforms carefully. Harnessing them in the right way will allow you to drive your healthcare practice towards success and create a seamless workflow for you and your staff. 

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