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An Effective Way For a Medical Billing Company To Enhance Productivity

Running a medical billing business involves many parts:

  • Billing teams
  • Insurance companies
  • Clearinghouses
  • Clinical teams.

The staff is always busy, so the company fails to achieve the desired profitability.

Isn't it time to look into this issue and see what's happening?

Let’s start by analyzing the activities keeping your staff on their toes at all times.

Daily Activities Consuming Staff Time

  • Fixing errors, incomplete, rejected, and appealed claims
  • Tracking and prioritizing claims
  • Communicating with clients about stuck claims

When a billing company tries to solve productivity issues, it hires more staff. The common belief is that more staff is needed because there is always more work and less time.

Consider Medical Billing Software for Productivity

One solution often overlooked is medical billing software. It is a tool for processing claims, while efficiency is expected from the staff alone.

A medical billing company rarely focuses on solving productivity issues with good software. While choosing, the main focus is usually on how to successfully submit and send claims. But, it's crucial to think about the features of the software. To boost productivity and business performance.

Key Features for Productivity

High First-Time Pass Rate

Medical billing software should enable a high first-time pass rate. It should have real-time eligibility checking and an excellent scrubber.

Eligibility Checking: Instantly verify patient insurance details, saving time on phone calls.Scrubber: Ensures clean claim submission with few denials. It checks each claim line, verifies codes, and fixes issues.

Scrubber: Ensures clean claim submission with few denials. It checks each claim line, verifies codes, and fixes issues.

Simple Claim Tracking and AR Management

A good medical billing software should offer easy claim tracking with user-guided steps. It should provide interfaces and dashboards with filtered data for each claim step. It will help users focus on and be more efficient.

  • Claims: Show claims to be scrubbed, audited, or submitted, both electronic and paper.
  • Submitted Claims: Track pending reimbursements and claims without responses.
  • ERA Posting: Show automatic ERA posting and payment postings needing intervention.
  • Denials: Help track denials and provide insights into denial trends.
  • AR Management: Offer insights into pending AR, and aging buckets. It helps focus on AR efforts.
  • Patient Responsibility: Provide information on what statements to send out. It can also track paid statements.

Great Communication and Flawless contact between the teams

AR management requires good communication between billing and clinical teams. Lack of communication makes the process inefficient and wastes resources. Billing staff spend many hours to get missing information for claim processing. Ultimately leading to delays.

Good medical billing software should provide a communication portal. Which simplifies the whole communication process between billing and clinical teams. It will reduce the need for excessive emails or calls.

Conclusion

The right medical billing software will free your staff from repetitive tasks. It will allow them to focus on more important matters and help you lead more effectively.

Medical billing software should not be seen as just a tool to help staff with their activities. It is a crucial necessity that work with staff to achieve the desired productivity.

AltuMED PracticeFit is one of the Industry Leading Medical Billing Software. PracticeFit is the intuitive advocate that your company needs to compete in this cut throat Medical Billing industry. Sign up today and claim your free subscription.

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