How Medical Billing Software Helps Radiology Practices Get Paid Faster and More Reliably

How Medical Billing Software Helps Radiology Practices Get Paid Faster and More Reliably

August 2, 2016

No practice can survive without a steady stream of income. Securing this revenue is a function of two separate but related activities – regularly seeing patients, and ensuring that insurers or patients pay for the treatments provided. Those who have worked in healthcare understand that the latter is not necessarily a function of the former. There are a number of hurdles to getting paid quickly and in full, not least of which is the speed with which legislation changes.

Maximizing reimbursements is an important facet of clinical management, and there are many places where it can go wrong. If a doctor fails to get the right information during scheduling, or an administrator enters in the wrong code, it could lead to a claim getting denied. Over time, this creates more work for the practice, and can inhibit the day-to-day function. In addition to the financial incentive to get paid on time, every hour that is spent chasing down payments is one that is not spent providing care to patients.

How automation can help
For many physicians, part of the problem is that collection systems are outdated. Information has to be entered manually, which not only is time-consuming, but also opens up the possibility of errors. Older systems can be outdated or unwieldy, making using them an exercise in frustration for everybody involved. All of the time spent navigating these systems is time that isn’t being devoted to patients.

Medical billing software solves many of these issues at once. Here are some of the benefits that moving to an automated system offers:

  • Automating eligibility verification. Instead of trying to comb through Byzantine legislation, get an answer about which patients qualify immediately.
  • Submitting bills automatically. An Electronic Health Record (EHR) system can create and send invoices automatically.

  • Reducing coding errors. Entering billing information manually opens up the possibility for human errors, such as over or under-coding and use of incorrect codes.

  • Increasing speed. An automated system sends bills much more quickly and efficiently, meaning that reimbursements are more timely.

How to Get the Most Out of Your Medical Billing Software

Navigating billing and chasing reimbursements is one of the most time-consuming tasks that any medical practice has to deal with. This can be especially burdensome on smaller facilities, which don’t have the luxury of dedicating employees to the task.

When choosing a medical billing platform, look for one that will alleviate the biggest amount of this strain. That means finding software that has complete data integration, which eliminates time spent entering information into multiple systems. The ideal software also seamlessly integrates with EHR and patient portals, which allows a practice to manage every part of the process, from scheduling to seeing a patient to billing that patient to getting paid, all from one interface.

One of the ways to use the time and resources that are opened up by switching to billing software is to cross-train employees. This encourages engagement, increases flexibility and reduces the costs associated with turnover. Forbes contributor Chris Cancialosi described the myriad benefits of a well-developed staff:

“Cross-training your employees to mitigate risk may involve developing your team’s capacity so your company has the flexibility to respond to fluctuating workflows. It can also include training for different skill sets in the event that a key employee leaves, or simply as a way to prepare a lower-level employee to move up in the organization. Either way, cross-training can be extremely beneficial to your organization as a whole.”

Realizing these benefits requires having extra time and resources. For a clinic spending all of its time chasing down reimbursements, these are luxuries. However, by switching to medical billing software, clinics can improve efficiency and open up opportunities that would have once been logistically unfeasible. This can lead to more time to see patients, which improves satisfaction for all of the sides involved.

Recent News Blogs

©2014 Konica Minolta Healthcare Americas, Inc.