Medical billing technology is always changing, and usually much quicker than one expects. While your current processes may be working for you, there just may be something better available to reduce staff time and increase your revenues. The thing is, technology has made huge strides in the medical billing industry in recent years, offering a number of ways to send and receive data faster, while still protecting sensitive patient information.
So, over the next several posts, we will explore different features technology can offer to increase your efficiency as well as your ‘bottom line‘. We will consider how your Electronic Medical Record (EMR) can communicate with your Practice Management (billing) software, the key features to look for in your Practice Management software, and how it can communicate with other programs, such as Clearinghouses and statement vendors.
This Medical Billing Technology Series will include:
- Validation vs. Scrubbing
- Rejection vs. Denial
- Integrating With an EMR
- Integrating With a Clearinghouse
- Basics of ANSI/EDI Reports
- Patient Collection Policy/Credit Card Processing
- Using Templates
- Is Integrated Eligibility Worth It?
- Statement Options
- Selecting a Practice Management System (Ease of Use/Access; Training; and Support)
Now, not every office will benefit from the same “bells and whistles,” and there are so many options out there. It can be overwhelming. Chances are though, your office could benefit from considering some updates, and some may not even cost you at all!
EZClaim suggests that you take a fresh look at the workflows and processes that you have in place today, and start thinking about the tasks that are wasting time or that are causing delays in collecting payments (from both patients and insurance). These insights just may help you create a positive change to your workflow and your revenues!
So, if you need some help getting started, consider working with a consultant. One of EZClaim’s partners, RCM Insight, offers an annual fee schedule review, and during the month of February 2021, they will be offering four practices a FREE fee schedule review. So, visit their CONTACT US page for your chance to win! [ Note: RCM Insight uses EZClaim’s medical billing software for their billing services, so it could be a ‘win-win’ if you are—or will be—using EZClaim’s medical billing solution ].
EZClaim is a medical billing and scheduling software company that provides a best-in-class product, with correspondingly exceptional service and support. Combined, they help improve medical billing revenues. To learn more, visit EZClaim’s website, e-mail them, or call them today at 877.650.0904.
[ Contribution: Stephanie Cremeans with RCM Insight ]
Which is the BEST kind of Medical Billing Software? “All-in-One” or “Specialized”?
When considering WHICH medical billing solution they should use, practices wonder which is best, an “all-in-one” solution or specialized software. Well, the following are a few important pros and cons to consider when making a choice between these solutions.
An “all-in-one” system tries to provide a single, comprehensive solution that offers functionality for the major areas of the practice—Practice Management (PM), Electronic Medical/Health Records (EMR/EHR), and Revenue Cycle Management (RCM)—accessed from one central point. It has features like clinical notes, patient information, and history, diagnosis and treatments, scheduling, appointment reminders, reports, patient educational resources, as well as a medical billing section.
• Most of what a practice need is included in the system
• There is no need to be concerned with multiple integrations or vendors
• Tends to have a higher ‘entry’ cost
• Usually designed for the “middle-of-the-road,” therefore sometimes doesn’t properly address specific needs of a practice
• Sometimes, the practice is left paying for additional customizations to fit their particular needs
Specialized medical billing software, on the other hand, is particularly programmed to maintain billing details of tests, procedures, examinations, diagnoses, and treatments conducted on patients. However, many specialized software providers extend their scope to include features like practice management, scheduling, and other administrative and clinical functions (that are generally a part of EHR software systems) by partnering with other specialty software companies—creating a “best-in-class” solution.
• Integrating multiple “best-in-class” software packages—each taking a much more focused approach—creates an offering with much more in-depth capabilities
• Usually are more ‘nimble’ in responding to industry and regulatory changes
• More ’scalable’ in supporting the growth of a practice
• Most of the time the practice has to deal with multiple vendors
Where “all-in-one” solutions offer a wide breadth of capabilities across the business, they usually also lack focus, depth, and sophistication. “All-in-one” solutions are usually only efficient in one area, with the other areas tend to be ‘compromised’ and not fully developed. Then, when it comes to flexibility, they tend to be slow to adapt to changing practice needs.
Specialized software, however, typically offer a more efficient experience, with each ‘component’ streamlined and designed with a specific purpose in mind. Their focus on limiting the software scope makes them flexible and easy to use.
EZClaim—a leading software package in medical billing and practice management—has made it easier for the medical practice to have the benefit of a “all-inclusive” solution. They have created the best of both worlds by taking on the responsibility of integrating the “best-of-breed” into a harmonized “best-of-class” offering that allows the practice to pick and choose for their specific needs. The seamless integration of partner products and services ensures the practice does not have to give up robustness and flexibility for a simplified “all-in-one” solution, and it further enhances the practice’s workflow.
As a specific example, one of EZClaim’s partners is TriZetto Provider Solutions (TPS), a provider that seamlessly blends claims processing with revenue management and analytics software, so the practice can get paid faster, and more accurately.
Today, the practice can get the benefit of all the power and ease of use of EZClaim’s medical billing software and all the access and security that is needed when dealing with personal records by using TPS—which includes patient access, claims and denials management, patient financials, and advisory services.
The powerful integration between EZClaim and TPS efficiently adds functionality to the practice. Now the practice can gain deeper insight into the claim lifecycle, and take the proper steps to improve the overall health of the practice. The right ‘integrated’ solution makes all the difference!
So, if your practice needs more confident billing, after payments, and more informed decisions, but the power of EZClaim and TPS to work for your practice with the integrated suite of revenue cycle solutions.
In addition to TPS, EZClaim has tightly integrated a variety of of ‘components’ to be able to offer an “all-inclusive” best-in-class solution for a medical practice’s needs: Electronic Health Records (EHR), Clearinghouse, statement and payment services, HIPPA compliance, claims scrubbing, appointment reminders, and inventory management. It has partnered with a variety of providers like QuickEMR, BestNotes, and PracticeFusion [ Click here for an entire list of EZClaim’s partners ].
It is important to note that an “all-in-one” solution does not usually include the Clearinghouse portion that TPS offers. The powerful integration between EZClaim, TPS, and EZClaim’s EMR partners, efficiently adds functionality to ANY practice!
If you are considering the best course of action to meet your practice’s needs, consider using EZClaim by downloading a FREE TRIAL or contact one of their product specialists today to explore all the options for how to best solve your practice’s operational challenges, and grow your business.
For details and features about EZClaim’s medical billing software, visit their website.