The Health Insurance Portability and Accountability Act 1996, commonly known as ‘HIPAA’, has played a key role in making software necessary for practices. Standardizing & supporting electronic transmission of administrative and financial transactions is one of the primary purposes of HIPAA.
Due to the advent of EMRs (Electronic Medical Records), billing software adoption has become increasingly common in medical practices. Electronic medical records are digital records providers use to record data about patients’ health, diagnoses, prescription & treatment. They make patient information available for several of HCPs (health care providers) in digital form. . EMR helps in several tasks like processing payments, scheduling patient appointments, and sharing information, etc. Implementing EMR helps practices comply with HIPAA and ICD-10. The first question that may come up in your mind is how and where medical billing software helps you. The answer is that medical billing software is really handy in all tasks of medical billing. Take a look at some of the tasks where medical billing can help :
- Managing appointments and scheduling
- Pre-registration of patients.
- Support for medical coding
- Claim management.
- Managing Electronic remittances.
- Reminders about payments.
More About The Benefits Of Medical Billing Software:
- In the beginning, when a practice receives a query regarding appointment scheduling, medical billing software can assist with appointment scheduling and insurance verification.
- Furthermore, when your team starts working on medical coding, medical billing software can help locate errors or notify users if any coded service needs review. So coders make fewer errors resulting in a higher percentage of successful claims on the first go.
- Medical billing software can make your claim management efficient, secure and high tech. You can expect to file a claim without mistake, track it all the time, know the status of your claim, and respond quickly. Furthermore, you can look into recurring issues & analyze frequent causes resulting in denials.
- Medical billing software provides error-free and rapid electronic remittance functionality. The billing software allows you to track and import information on all payments made. You can complete the processing for your bulk ERA tasks and reconcile patients account information quickly. It saves you time and you don’t need to do manual tasks of inputting data. Furthermore, you don’t need to deal with physical papers.
- The billing software can automate all aspects of medical billing. It helps you to communicate with patients about upcoming or past-due payments. In short, all tasks can become automated to a certain extent while committing fewer errors.
- Adoption of medical billing software will save you money, time and lead to better management of financial resources.
- Cloud computing is an underrated feature of medical software, This enables you to remain worry-free as your data remains secure in cloud servers. Security becomes less of a headache via cloud-based medical billing software.
Popular Medical Billing Software :There are several medical billing software popular among medical billing companies.
- The Brightree- The Brightree HME/DME software platform is a cloud-based management software platform. It automates patient intake and collection processes.
- Advanced MD- It is a cloud-based software that helps in several tasks of medical billing. A practice can track revenue cycle performance with easy-to-read reports as well as receive reimbursement faster via Advanced MD.
- eClinicalWorks,- It is another cloud-based software that works for scheduling and check-in through documentation, prescribing, billing, and follow-up processes.
- Webpt: Webpt is medical billing software that works for physical and occupational therapy patient care.
- CSeye : It is a specialized billing software for optometry billing. C-Seye is popular among practices working in the field of eye care.
- Aethna – It is billing software that can help with several tasks such as medical billing data recording, claim submission, monitoring and follow-up.