| -> | | | | providing value added services such as scheduling, |
| New features can benefit you with a more | | | | super bill printing, and patient lookup. |
| efficient practice, lower costs, and increased cash | | | | Built in Efficiencies |
| flow. | | | | Leveraging newer technology such as EOB and |
| Medical Billing Software and Physician's Practice | | | | insurance card scanning, electronic patient |
| Management Systems are the best tools you can | | | | statements, and electronic remittance can cut |
| use to improve the financial well being of your | | | | time spent on billing chores by up to 30%. This |
| practice. Using one can help you to gain full control | | | | can allow more time for focus on patients and |
| over your finances, and grow your business. | | | | collections. |
| Cutting-edge medical billing technology can | | | | Reduced paper handling |
| significantly reduce time and costs spent | | | | Newer systems provide insurance payer rules so |
| processing claims. Not only will you have a better | | | | that users can immediately identify and correct |
| grasp of the health of your practice, you can | | | | claim errors that would delay payment of claims. |
| watch your receivables increase and your | | | | Some systems will submit all your claims on your |
| payables decrease. | | | | behalf including paper claims. Carriers can respond |
| In the past couple of years, new features have | | | | immediately so you get faster payouts, most |
| began to emerge to increase your operational | | | | within 14 days. Practice Management Systems |
| efficiency. Spurred on by the HIPAA regulations | | | | can also reduce staff workload by outsourcing the |
| mandating electronic file transfer standards such | | | | print and mail functions of processing patient |
| as X12, and the growth and maturing of the | | | | claims and statements. |
| internet, new features are now available to help | | | | When supporting documentation is needed in |
| your business. | | | | order for a claim to be paid, some systems can |
| Recent advancements include: | | | | attach scanned letters of medical necessity, |
| | | | accident reports, referral authorizations, worker's |
| 1. instant access from anywhere, even away | | | | compensation documents, and most importantly |
| from the office | | | | EOBs. This eliminates the need to photocopy |
| 2. manage multiple offices and functions from one | | | | paperwork and perform chart pulls later if there |
| database | | | | are any questions on the claims. |
| 3. enhanced scanning - electronically file all claims; | | | | Increased Security: |
| even those needing supporting documentation | | | | When using the internet, many users are |
| attached. | | | | concerned about security. A well established |
| 4. rules engines to identify errors before | | | | vendor addresses these concerns on multiple |
| submitting the claim | | | | levels. Just like banking at an ATM, all data is |
| 5. increased security to comply with new HIPAA | | | | encrypted during transmission and is protected by |
| standards | | | | a user name and password. Furthermore, with |
| 6. electronic patient statements | | | | most ASP vendors, all data and servers are |
| 7. electronic remittance advice | | | | backed up by expert IT staff at the data center. |
| Stay Connected | | | | Many ASp vendors offer redundant |
| With the maturing of the internet, new technology | | | | HIPAA-compliant servers, with backups in |
| supporting the ASP (Application Service Providers) | | | | different locations to ensure data recovery in |
| architecture allows access to your data including | | | | case of disaster. |
| data entry from anywhere with a internet | | | | Conclusion |
| connection. This flexibility is a true benefit to | | | | What is becoming standard in ASP-based medical |
| multi-office practices and billing services. Multiple | | | | billing software is subscription style pricing, and low |
| offices can now share the same database | | | | upfront cost which cover implementation and |
| without the need for specialized networking or | | | | professional fees. |
| wide area networks. The cost savings in | | | | If your business is looking to upgrade the medical |
| communication expenses alone can be enormous. | | | | billing software, examine the new features listed |
| Billing services can benefit by allowing limited | | | | to see if they will offer you cost savings and |
| access to their clients. This can instill a higher level | | | | increased efficiency. If so, insist on the new |
| of comfort for the client. This access can allow | | | | features in your next system. |
| give a billing service a competitive advantage by | | | | |