Top Medical Billing Features You Need
Unlock the True Revenue Potential of Your Practice
As the complexity of the medical billing process grows, getting paid appropriately and on
time for services provided is becoming very critical to operating a successful practice.
This feature list will guide you through the critical medical billing software elements
that will help yoru practice optimize revenue collection.
Cloud-Based All-in-One Solution
When choosing the right Medical Billing platform, a main factor to consider is
practicality. Since
Medical Billing involves claim submission, staff and billers need access to patient records
for
accuracy. This means being connected to an EHR platform that documents all patient and exam
details. A sensible Medical Billing solution is fully integrated with an Electronic Health
Records
(EHR) platform, practice management system, and designated clearinghouse(s). Say goodbye to
third-party integrations and have complete access to an all-in-one powerful interface.
Effective Practice Management
A clean claim starts before patients show up for their appointment. Medical Billing
platforms
should proactively lower no-show rates and cancellations. This includes requiring patient
details
and performing insurance eligibility checks pre-appointment to make sure your practice gets
paid appropriately for services.
Your Medical Billing platform should be able to grab exact details of copays and the
precise
amount your patient’s insurance covers before administering treatment. You should also be
able
to track their detailed insurance benefits over time. Have a Medical Billing platform that
can
verify for primary and secondary insurance? Even better.
With the ability to send automated reminders via text, phone, or email, offices will
improve
attendance. This will result in more revenue.
As part of the patient check-in process, patients should be able to answer basic background
questions or sign forms to save time and increase accuracy of data prior to their
appointment.
ICD-10 Ready with Auto-Population
Billing codes and notes should be synced with your Medical Billing and EHR software so
claims
can be automatically transmitted from your EHR to the clearinghouse.
If you commonly see patients with similar diagnoses, a successful Medical Billing platform
has a
couple of features. Providers can set up most common diagnosis and medical billing codes
for
easily retrievable settings that populate saved ICD-1O codes when needed. CPT codes should
also be auto-copied from a previous visit and applied to a current visit.
Medical Billing On-the-Go
Your Medical Billing platform should be cloud-based to allow you to access Medical Billing
onthe-go. With a cloud-based platform and accompanying phone app, you have access to your
Medical Billing anytime, anywhere on mobile or Web. You can also submit claims without
access
to a computer, view claim statuses, see your claims feed, enter ICD-10 codes, and more.
ERA / EOB and Patient Statement Integration
Electronic Remittance Advices (ERA) and Explanation of Benefits (EOB) need to be seamlessly
available at a moment’s notice. After all, your practice will need to provide these reports
to
insurance companies and your patients.
In addition to one-button reporting, your ERA payments should post directly into your
practice’s
bank account via direct deposit. Your Medical Billing platform should be equipped to deal
with
ERA scenarios including denials, underpayments, overpayments, multiple adjustments,
automatic
cross-overs, secondary remittance, and reversals.
Send patient statements to all of your patients directly through the Medical Billing
platform. You
should also be prepared to provide your patients with a statement before they leave your
office.
Smart Medical Billing Tools
With business intelligence tools, your practice can gain real-time insight into analysis of
payments, denials, and utilization for real-time insight into the health of your medical
practice.
This is essential for optimization. The Business Intelligence tools should have quick
filters to sort
through data quickly along with advanced billing reports.
A live claims feed means your practice can manage and monitor claim statuses in one place.
An efficient live claims feed engine will help practices efficiently handle any payer
inquiries or
resolve claims quickly and easily.
Denials Management
There’s nothing more frustrating than getting claim denials. A great Medical Billing
platform will
automatically post denials directly to your Live Claims Feed so your practice can take
action as soon as possible.
Denial Management tools should also be able to efficiently resolve denials by helping
correct
errors and assist with re-submitting any denied claims.