For that, we need to look at the past, present and future for five key areas related to medical billing. Let’s discuss.
1. Eligibility verification
Eligibility verification was always done over the phone which was a time consuming process and was often neglected. Presently, not much has changed. Phone-based, manual procedures are still in use for most practices. However, a comprehensive electronic billing/practice management system enables instant patient verification and saves a lot of time for other tasks.
Paper-based billing was error prone while electronic billing software has advantages over paper, but it is not always integrated with other daily use applications.
With a unified and complete solution, all departments (clinical, administrative and billing) use the same system. Workflows improve, error rates go down and efficiency increases.
3. Claim corrections
Paper-based systems meant claims errors were only uncovered when the claim was denied. Legacy electronic billing systems help practices avoid patient-data errors and clearinghouses catch many coding issues, but the process still takes days or weeks.
Next-generation systems provide front-end edits, claim validation and multiple levels of status information.
4. Role of the biller
Biller was essentially a data processer, performing re-keying and faxing functions. Using traditional billing methods, even top-notch billers still spend a great deal of time on manual, low-level tasks.
Simple tasks are performed through electronic billing/practice management system—when a physician completes an encounter and saves the chart, the software automatically pulls the diagnosis and CPT codes and creates a charge.
5. Reporting and transparency
In older systems, payables were lower due to patients seen but never billed for and co-pay never collected. However, end-to-end, cloud-based systems mean up-to-date patient, billing and financial information is instantly available from any device.
Social tagging: med billing > top medical billing companies