What Makes a Good Medical Billing System?

medical billing software

What Makes a Good Medical Billing System?

The digital age has changed how medical billing systems work. But with so many digital medical billing software on the market, it can be hard to determine which one is best for your practice. Don’t let your practice fall behind because you aren’t keeping up with the best of what digital medical billing has to offer. This article details many of the best aspects of quality medical billing systems and can help you ask the right questions before investing in software. 

 

What should I look for in a billing system?

 

Digital records

Gone are the days of lengthy paper trails and all the problems that lost or misplaced paper bills brought. Digital records allow both the practice and the patient to view billing and services in real-time. 

 

Insurance verification

Sometimes patients don’t realize there have been changes to their insurance. Other times, they might not even realize that they have lost coverage. A good medical billing system allows you to verify a patient’s insurance before any medical treatment begins. 

 

Claim processing

Digital claim processing speeds up the process. It also limits the chances of making errors. Your medical billing system even makes the process of resubmitting claims a breeze. Top billing system programs scan your documents for errors before submitting the claim. 

 

Electronic bills

With electronic billing, you get paid faster. With paper billing, it is easy for a patient to misplace their bill or simply forget. With electronic billings, you can send friendly reminders and payment updates. 

 

If your practice has multiple doctors and providers, an excellent billing system will organize payments by provider or whichever way works best for your practice. All your billing information is kept in one central program, so finding billing details is easy.  

 

Payment tracking and reminders

With the right medical billing system, you don’t need to spend time trying to collect payments and figure out who owes what. Reminders and late notices are sent out automatically, allowing your staff to focus on other essential aspects of running a medical practice.

 

Cloud-based

What will happen to your practice if your computer systems crash? Are your thousands of documents backed up in the case of computer failure? With a reliable and secure cloud-based digital billing system, you don’t have to worry. All of your critical information is protected off-site on secure servers. You’ll never have to worry about losing files due to computer mishaps every again. 

 

Can use anywhere

If you are part of a busy medical practice, you already know that you are always on the go. Sometimes there isn’t enough time to be sitting in front of your desk computer working on your billing. A modern medical billing system lets you access the system from anywhere, including from your phone. 

 

Secure

When purchasing a medical billing system for your practice, make sure it provides optimal security. When it comes to medical billing, these systems store extremely sensitive personal data. Ask questions. Find out the ways software companies protect your information from online threats. 

 

Multi-practice

If you are running a practice with multiple locations, make sure your medical billing system can handle several locations. It can be quite distressing to buy a billing system only to find out later that it doesn’t have the power to serve multiple locations. 

 

Booking features

Why not have your billing and scheduling all in one place. A good medical billing system also allows your team to schedule appointments as well. This makes billing that much easier as you’ll be able to match your services provided with the actual bill. 

 

Patient portal

Another critical aspect of a quality medical billing system is an easy to use a patient portal. Here, patients can log in directly to see their services and an itemized list of what they owe. Patients can make payments c through the portal, making collecting on services that much easier.

 

Are quality medical billing systems affordable?

These systems are a bit of an investment, but if you think of them in terms of time saved and value-added, they are definitely worth it. And in a world of digitalization, if your practice is still using paper systems for your billing, you aren’t spending your time wisely. Furthermore, digital systems get you payments faster, bolstering your bottom line. 

 

What happened to paper?

Up to the turn of the century, most medical practices and insurance companies were still using paper systems for filing claims and billing. But with the dawn of the digital age, most practices and insurance companies found they could save much time and effort by going digital. Furthermore, most states across the United States have enacted laws that make digital billing and claim filing necessary.

 

Using paper claims led to many mistakes both in billing and how claims were filed. It made communication between patients, practices, and insurance companies almost nonexistent. By going digital, these communications have become streamlined. Best of all, much of this communication can be viewed in real-time by all parties involved. This is great for resolving disputes. All the user needs to do is print or take a screenshot of a payment record as proof to the disputing party. In the past, disputes would often take weeks to resolve. Now, your team can resolve billing disputes almost immediately. 

 

How can a quality medical billing system save your practice money?

Before the digital age, many large practices had to hire an entire team to handle all the billing and insurance claims. Some even had to outsource to expensive billing firms. Because digital medical billing systems streamline the process, you can now eliminate a large portion of payroll and let the software do its work. Essentially, one billing specialist with the help of a quality medical billing system can do the work of an entire team. 

 

Now that you understand a bit more about digital medical billing systems, you’ll be able to spot features that make certain software a cut above the rest. Your medical billing system is one of the most important decisions you can make for your practice, so make sure to ask plenty of questions. Use this article as a guide to help you formulate your questions.