Revenue cycle management and effective billing of hospitalized patients are the lifeblood of any practice. These elements help to provide the best measurement of an organization’s financial well-being. A streamlined hospital billing process is an ongoing challenge for even the best-run practices. A positive hospital billing experience can also greatly impact patient satisfaction and loyalty as well as raise revenue and reduce costs.
Here are 3 thoughts on improving the hospital billing process to help reduce costs.
Integrate your billing software.
If your medical billing software is integrated with an electronic charge capture system, instead of the old-fashioned ‘fee ticket’ or ‘charge slip’ method of manual data entry, then you will dramatically reduce the time it takes to process billing and reduce errors made during manual entry. Integrating medical billing software with a charge capture system like HybridChart will save you time all while creating a smooth and easy experience for everyone involved.
Communicate with providers.
Sometimes the providers and the coding specialists live in different universes, rarely crossing paths. Effective communication can help accelerate the revenue cycle, and will help reduce submission errors, resulting in claim denials. HybridChart allows convenient and secure communication so that billing staff and providers can quickly clarify ambiguities. Coders can easily get useful data in real-time regarding the patient, and HIPAA-compliant messaging is just a click away.
Clarify workflows and roles.
Every single person who is involved in the billing revenue cycle should know his or her role and where it fits into the entire process. Creating and establishing smart workflows with clearly-defined role assignments helps everyone to understand why their part of the process is important. HybridChart provides clear patient assignments and monitors the workflow carefully. The Billing Dashboard can give you an overview of productivity and division of labor. Robust reporting will keep your billing department one step ahead.
Empower your practice to reduce costs by using these tips to streamline your billing process for happier coders, lower costs and higher collections.
HybridChart’s focus has been exclusively on charge capture and billing with a customized approach specific to purposeful hospital rounding. Think HybridChart will help solve your purposeful rounding woes? Check out the HybridChart Story here to learn more!
Dr. Gregory Sanders is a Harvard-trained, practicing cardiologist and founder and CEO of HybridChart. He has been coding since the 1980s and has spent his medical career focusing on improving processes. His patient care skills earned him recognition as one of Phoenix Magazine’s TOP DOCs. He lives in Scottsdale with his family.