Is your practice up to your ears with paperwork and overwhelmed with the logistics of medical billing software? Or are you juggling multiple medical billing software and nothing seems to help but just create more work and trouble? Between front office customer service, billing and scheduling, you’re jugging a lot of balls every day.
Physicians use nearly 12 percent of their net patient service revenue to cover the costs of “excessive administrative complexity” according to a study done by Health Affairs. In fact, a staggering seventy-four percent of those costs are due to inefficiencies in medical billing. This is mainly caused by time lost from office staff or physicians trying to prepare paperwork or communicating with payers directly with questions about treatment plans, prescriptions or diagnoses. According to Healthcare Business & Technology, an estimated $125 billion is left on the table each year due to poor billing practices. The two most common factors contributing to a loss in profits are billing errors and failure to stay up-to-date on medical billing regulations and rules.
It’s time to smooth out your system to ensure your practice becomes more accurate, profitable and well-organized. Your medical billing software should help you, not cause headaches.
Consider these 4 tips to improve your medical billing software practices.
Your medical billing software should be user friendly.
You already have tons on your plate. Medical billing software shouldn’t add more to it by being hard to learn or difficult to manage. It should make life easier by tracking appointments, creating bills and receipts and following up with denied claims or unpaid bills.
Your medical billing software should be integrated.
If your medical billing software is integrated with an electronic charge capture system, instead of either the old-fashioned ‘fee ticket’ or ‘charge slip’ method or a manual data entry from the practice EHR to your billing software, then you will dramatically reduce the time it takes to process billing and reduce errors made during manual entry. (Not to mention completely eliminating the risk of losing pieces of paper between the time the clinician fills them out and they get to your office!) 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.
Your medical billing software should prevent mistakes.
If there are any mistakes made in medical billing, it can make a big dent in the cash flow of your practice. Errors in coding, personal information or typographical errors can all result in denied claims. The last thing you want is to have a claim denied due to entering incorrect patient information or sending a claim to the wrong insurance company. Having effective medical billing software in place will help you to catch these errors before any money is lost.
Your medical billing software should be up to date.
It’s important to choose a software that is current and up to date with the ever changing billing practices. Accurate and current billing codes will allow for greater accuracy and help you prevent errors in billing.
If you’re struggling to manage your medical billing and are suffering because of it, consider these helpful tips. Utilizing an effective and up-to-date medical billing software that fully integrates with a mobile charge capture system will help your practice operate at its best potential and eliminate costly errors that may inhibit your ability to provide exemplary patient care.
HybridChart offers six layers of protection from missing charges. Easily capture commonly used hospital visit codes, to specific diagnostic orders, to complex procedure codes, all appropriate charges can be entered with just a few clicks. Our software is completely customizable and specific to your organization which means we can ensure it fits perfectly within your company as well as your existing systems. Your team and billing staff will especially appreciate the streamlined process HybridChart will provide to processing your charges as it helps to eliminate unnecessary steps and wait time in getting charges into the system and revenue collected. Review the benefits of HybridChart for your practice here!
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.