Working towards improving billing management processes is an inescapable task if you wish to ensure that your healthcare venture maintains sound fiscal health. Investing in a billing tool is one way to ascertain this.
For most practitioners, the auxiliary organizational pieces that run parallel to their actual jobs of patient-care are of minimal interest. Sporting such an attitude can have adverse financial implications. One administrative aspect that needs maximum attention is billing management. If billing processes are not managed properly, the resulting chaos can lead to significant damage to the cash inflow pipeline. A sophisticated software application can be the answer to most of your billing woes. Aside from streamlining billing-related processes, a software solution can increase the productivity by reducing errors, speeding up time-consuming portions of the work and guaranteeing complete adherence to legal requirements. Here are a few factors that you need to focus on when choosing to implement a billing software:
The inclusion of All Current Codes – The medical coding system undergoes modifications frequently leading to the integration of new codes and changes to existing codes. The system that you select should be current and up to date as far as the CPT, ICD, and HSPCS codes are concerned. It should also have provisions for future alterations so that there is complete adherence to legalities.
High Security and Privacy Standards – An ideal billing system should have characteristics that help you achieve HIPAA compliance. Encryption features, multiple authorization measures, audit trails, and periodic backups to avoid data loss are all desirable elements in a billing application.
Availability of Tech Support – An assurance of ongoing technical assistance is a must when deciding upon a tool. Support for installing upgrades, training new staff members, handling common queries, and resolving bugs should be included in the package offered by the vendor.
Availability of Eligibility Verification – A tool that can provide information about insurance eligibility for patients preferably at the time of admission can be instrumental in eliminating patient debts.
Generating Payment Reminders – Sending reminders to patients who have overdue bills has been the norm for years. These letters were manually created in the past, but now with advanced billing applications, they can be posted automatically online which saves time and effort.
If all of the points mentioned above overwhelm you, you can choose to outsource your entire billing management to Mirra Healthcare, a company instituted by physicians who understand the requirements of healthcare entities of all sizes. Mirra has a skilled team of professionals who are well-versed in the nuances of billing management and can make a world of a difference to the way your billing needs are handled.
For more information on how you can partner with Mirra, get in touch with us - http://mirrahealthcare.com/contact-us.php