Looking to grow your medical practice or RCM organization? Taking steps towards automating the billing process is an excellent place to start. From improving the efficiency of your claim processing, to making life easier for patients, the results of nuanced automation of the medical billing process are extremely impactful on your business’s day-to-day operations. Let’s take a look at some of the key benefits of medical billing automation.
Faster Claim Processing
Many medical practices and billing companies constantly struggle with perfecting their revenue cycle management and ensuring they receive reimbursement on time, with optimal accuracy. Medical billing automation enables claims to be processed more efficiently than with manual billing methods that take a considerable amount of staff time and effort that could then be refocused onto patient care and satisfaction. Faster claim processing leads to quicker reimbursement and improved cash flow for your practice.
One of the great things about medical billing automation is that it helps improve accuracy by minimizing the human element and increasing the probability that all necessary information is properly entered into the billing system. This can help prevent claims from being denied or delayed, which can save your team substantial time on rectifying incorrect or denied claims, as well as increasing revenue.
You have a business to run. Automating troublesome, manual parts of the medical billing process helps reduce the time and effort required to process claims, allowing staff to focus on patient care or organizational growth initiatives. When you’re spending less time on tedious manual tasks, you can spend more time on ensuring your business is the best it can be.
Ensure Patient Satisfaction
A practice whose patients are repeatedly enduring billing errors and delays is doomed to fail. For many, going to the doctor is already stressful enough without layering on issues in the medical billing process.
By reducing the amount of time it takes to process claims and reducing errors, medical billing automation can help improve patient satisfaction and take some stress out of the process. Your goal should be to make life as easy as possible for patients. Automating the medical billing process is an important step towards getting there.
Improved Financial Management
You should be using nothing but the most accurate, up-to-date information when making important strategic decisions for your business. Medical billing automation can provide real-time, accurate insights into revenue and financial performance. This can help owners and managers make informed decisions about how to grow and improve their business.
The medical billing process is as important to your business as it is tedious for those who aren’t making proper use of automation. Automating parts of the medical billing process not only makes your process more efficient, but more accurate, resulting in smoother operations for your entire business.
At EZClaim, our goal is to help your business reach its full potential with medical billing software. We make automation easy and provide a centralized home for all of the critical information you need to run your business that seamlessly integrates with your other tools and technology. Request a free consultation today to learn more about how EZClaim can help your business grow.
The success of a medical practice depends on its ability to manage patient records, billing, and administrative tasks efficiently. A great practice management system can help streamline these processes, saving you time and money while improving patient experience. In this article, we’ll take a look at five features that every great practice management system should have to ensure maximum efficiency and effectiveness for your medical practice.
The healthcare system as a whole is still remarkably reliant on pen and paper and manual processes. Your practice management tool must help you change with the times.
Perhaps the most important feature of a great practice management system is its ability to automate the billing process, which is typically the single-most time-consuming administrative task medical practices have to tackle. Automating the billing process eliminates the need for manual data entry, and saves your staff tons of time and effort.
Automation also reduces costs by eliminating mistakes made via human error, which are likely more frequent than any practice would like to admit.
The best practice management systems offer a range of automated billing options that allow you to customize your workflows. Your practice is unique, and you need a practice management tool that can be customized to fit your unique needs. Don’t settle for less when it comes to customizing billing automation.
Ease of Integration
A stellar practice management system should integrate seamlessly with EMR/EHR systems, clearinghouses, and any other relevant software and service vendors you use or interact with regularly. This saves you a ton of time by creating a simple, reliable path for your data to travel between your various tools and software.
You should be looking for a comprehensive, connected solution for your practice—not a system that is going to live on an island, cut off from other helpful resources.
Without a management system that integrates with other tools, you’re not even scratching the surface of your practice’s efficiency potential.
Outstanding Reporting Capabilities
Robust reporting capabilities are absolutely essential for measuring performance and success metrics within any healthcare organization or office setting. A great practice management system should provide customizable reports that can be generated quickly to track progress, trends, KPIs, etc., helping you make more informed decisions about your operations.
Reports should be easy to understand so that non-technical users can interpret them correctly without having any prior knowledge about data analysis or statistics. This enables your practice to not only make the right business decisions, but to make them quickly.
This is often what separates a good practice from a great one.
A Great Customer Support Team
As we touched upon in a recent blog, Why Customer Support Defines a Great Medical Billing Software, a great customer support team is an absolute must for any great practice management system.
It’s inevitable that you’ll encounter problems, and you’ll likely need to rely upon a support team to find a solution. Whether it be a process issue, or if a system adjustment is needed, a great customer support team helps you reach a resolution quickly.
Make sure you’re relying on the best.
While typically not quite as big of a time-suck as billing, your practice management system should also enable you to automate the scheduling process as well. You should be able to create patient visits, create claims, and transfer these claims into the billing process.
This will lead to improved accuracy, plenty of time and effort saved, and a more efficient practice.
Color coding is often a very helpful tool to look for, as well as alerts, a drag-and-drop interface, and of course, integration with billing.
A great practice management software provides the foundation for successful operations of any healthcare organization or medical office setting. Investing in a high-quality system and processes helps ensure smooth operations while saving your practice time and money in the long run.
If your practice is in the market for new software to manage its practice, we can help. EZClaim’s affordable, easy-to-use system is designed to make practice owners’ lives as easy as possible. Schedule a free consultation if you’re interested in learning more.
EZClaim is a leading medical billing, scheduling, and payment software provider that combines a best-in-class product with exceptional service and support. For more information, schedule a consultation today, email our experts, or call at 877.650.0904.
Have you ever been a bit overwhelmed when shopping around for all your medical practice needs? Of course! There are so many pieces required to meet all the HIPAA and reporting requirements, but it’s also about efficiency and ease of sharing information between clinicians to administrators. This can make the all-in-one Electronic Health Record (EHR) and Practice Management (PM) systems very tempting. Keep in mind, you will pay a hefty price for an all-in-one, which makes this a very simple decision for some practices. The good news: You have alternatives that still provide the same ease of sharing data through integration. I recently interviewed Dan Loch, President of EZClaim Software, LLC. EZClaim offers a stand-alone billing platform that offers several options for integration with clearinghouses and EHR’s. I asked Dan what he felt the biggest advantages were to using stand-along programs.
- Your practice will get the best of both worlds! Often practices will find a great EHR, but the billing side is not the best, or vice-versa. Using stand-alone programs that can talk to each other allows a practice to choose an EHR solution that is best for their clinicians AND a PM solution that is best for the billers and administrators.
- Typically, stand-alone systems are more ‘nimble’ in responding to industry and regulatory changes.
- Integrating multiple ‘best-in-class’ software packages creates an offering with much more in-depth capability.
If you are currently using separate EHR and PM solutions but the programs are not integrated – consider looking into this feature. This will relieve the burden of entering data twice. Start by verifying if the programs have an existing integration.
- If so, the hard part is done! Just ask what the process is to get set up and if there are any fees associated.
- If not, consider contacting your PM software vendor to inquire what formats they accept for EHR integrations. Once they provide the specs, work with your EHR to determine if you can export in the required format.
There is no single solution that works for every practice. If you’d like to learn more, check out this article from EZClaim ‘All-in-One’ or ‘Specialized’ Medical Billing Software? Which is Best? I hope that this information will help you weigh your options and find the right fit for your specific situation. If you have questions or would like some help determining what would be best, RCM Insight is here to help! Visit us at www.rcminsight.com and submit a request to chat on the Contact Us page.