The practices are balancing between higher reimbursements and better patient care. As a result of billing not being done in time or coding errors, there will be low revenue generated and the practice workflow will be impaired.
What should a Practice Management Software Do?
- A success rate on the first attempt Clearinghouse Claims.
- Concurrency checking to ensure there are no overlaps in billing times.
- A must-have feature – the base unit being linked to procedure codes for accurate results every time.
- Variable unit pricing is based on insurance for quick reimbursement (reduces stalls by payors).
- Claim tracking and denial management.
- System-produced or offsite patient statements.
- Ability to handle multiple Tax IDs.
PMS features should allow the staff to easily register the new patients and be able to maintain the check-in and checkout of the other patients. Some of the important features are:
- The demographic information should auto-populate and must keep track of all modifications using built-in HIPAA compliant audit trials.
- Ability to scan and store multiple insurance card images and maintain a complete history of patient’s past insurances; also be able to take patient’s picture and scan insurance cards.
- Use digital pads for the patient’s signature.
- Easy check-in and check-out, using a self-check-in Kiosk.
- Should collect co-pays/past payments using credit cards and print receipts.
After registration, scheduling appointments is equally important. The PMS software should have the following features so that the staff can operate easily and efficiently:
- Should be able to schedule appointments for the providers at multiple locations along with color-coding (based on reason and status).
- The duration should be automatically marked as per the appointment reason.
- Should provide a customized view of scheduler chart to group providers.
- Should have the ability to block specific time slots for specific appointments.
- Must have waitlist and recall list management.
- Automated verification for all scheduled appointments, also rescheduling of appointments using easy-to-use drag/drop.
- No-shows can be reduced by sending automated reminders through either phone, text, or emails.
Keeping all the above features in mind, also know that the longer the vendor is utilizing the software, the better chances are that it will always be updated. Train the staff well so that they can take advantage of this timesaving software. The integration of PM with the EHR system is vital in order to implement a better billing system. The EHR enables a clean transmission of the data from it to the best practice management software so that the claims can be quickly submitted.
The billing software has a workflow to bring-in efficiency in all areas of operations of your practice. Documentation, submitting claims, and managing collections are all linked together, providing streamlined communication, time efficiency, and an effective tracking mechanism. Evaluating, assessing, and comparing different software vendors can be overwhelming. Be cautious in selecting your Medical Billing Software, and ask detailed questions to determine the expertise of the software before moving ahead.
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