What is the one consistency across all businesses, no matter the industry? Every single one relies on steady payments made in full for their products and/or services in order to profit and continue to thrive. Although, medical providers in particular are put in a rather precarious position. Instead of receiving payment before performing a certain service, or passing along a product, medical practices provide their service, then send out the bill. That payment isn’t always a guarantee.
We have all run into several occurrences where claims get denied by insurance companies for a plethora of reasons. If you find that it is frequently the case for you and your practice, it may be time to invest in electronic medical billing software. With the right software, your practice can benefit from reduced claim denials, and an overall increase in practice revenue.
Eliminate Errors in Medical Billing
It’s easy to say that medical billing errors are often one of the most common reasons that claims get denied. While they may be easy to track down the fix, it may inevitably take longer to receive your payment if any sort of error is made. If you provide your practice with a superior medical software, there often won’t ever be errors that occur in the first place. Proficient medical software will be accustomed to current codes, which drastically improves efficiencies and overall effectiveness within your practice. Obviously, human error is relevant in this regard. No matter how much you believe in your employees, we all make mistakes. Upon implementing electronic billing software, you will almost immediately see a growth in accuracy, while seeing a drop in errors.
Improve Record Accuracy
Practices often find that inadequate or incomplete patient records can be another reason for claim denials. When a practice isn’t able to track a patient’s information thoroughly through their internal systems, it almost always leads to a claim denial, as the insurance company isn’t able to locate the patient in its own records. In another instance, if a patient’s information is incomplete, this could be another situation where a claim gets denied.
The special benefit to EHR software is that it highlights all particular areas that have to be filled out in order for a claim to be approved. This creates an environment where everyone in your practice – from office personnel to your nurses – will be primed with the information they need to ensure that they ask all of the right questions of their patients, resulting in an all but guaranteed situation that you get paid on time in the future.
Keeping Up to Code
As we all know, the complex landscape of medical billing is ever-changing. Those that work in billing or medical coding of any form often have to undergo constant training to keep up-to-date with new codes and changes in the field. Relying on these individuals, no matter how much trust you have in them, can inevitably cost you time, as well as money in the form of fees and damages. Learn more about common EHR questions.
There is nothing more maddening than seeing denied claims come through. They certainly come as an unwelcome addition to your normal bills and overhead expenses. Investing in an EHR software could be your solution to eliminating denied claims altogether. Wouldn’t that be nice? If you know that your practice is in need of an EHR system, be sure to contact us today and get a FREE 5-minute demo to see how our Ultra Charts™ system can improve your practice.