February 16th, 2017 By: Kelsey Moss
The complexities surrounding effective billing for your office might seem daunting, but it shouldn’t be. You just haven’t found the right solution that can make it effective billing in-house happen. Everything from procedure codes to collecting patient balances, there are requirements that must be met for the practice to keep moving along. The best part is you don’t have to spend thousands of dollars per month on software to meet all the requirements.
Things to consider when evaluating Medical Billing Software:
1. Training & Support
In order to successfully bill, you don’t have to hire a full team of medical billers, but you certainly can. If your practice is small, make the most of your resources and educate them about medical billing. You can even eliminate having multiple systems for data entry by having an integrated Electronic Health Record system so billing codes, patient demographics, and insurance information will be pre-populated in the Billing system for you! RxNT|PM offers ongoing training and continued support to all our clients (at no additional cost).
2. ICD-10 Compliance & Mapping Tool
We get it. Heavy books can be a pain to carry around and/or search through to find the accurate diagnosis code. What if you forget the secondary code? That’s why RxNT|PM offers a ICD-10 drill down tool to our clients that allows you to search for any code to ensure maximum reimbursement. You also can save favorite codes with our procedure macro functionality to easily match procedure codes, modifiers and diagnosis codes. Once the codes are added you can send the claim to the clearing house in real time (this means quicker payment for you!).
3. Electronic Remittance Advice
We’re all about efficiency! Save time and get paid faster by automatically posting your insurance payments. The payment will come from the insurer to your practice through an electronic funds transfer (EFT). The ERA will provide an explanation of each payment so it’s extremely easy to understand.
No practice is the same, so you’ll want to make sure you can customize all reports to suit your needs. One report isn’t going to cut it. You’ll want to ensure you have a plethora of options, such as aging, revenue, claim tracking, statements, and adjustment reports to name a few. Important functionality such as adding, deleting and modify data in a report is vital so that you can keep track of your billing. Make sure you’re able to export your reports too.
5. Authorization Log and Track
This is key. You’ll want a system that can both log and track authorizations. RxNT|PM will track the number of visits/units allowed under a current authorization and/or the end date of an authorization, whichever comes first! This ensure that you do not treat patients beyond the authorized number of visits. It is important to know when a patient approaching their authorized maximum so you can get a jump on obtaining another authorization! Without this functionality, you will be stuck in the days of tracking these manually!