Recent studies show that about 40% of medical bills contain errors. Examples of such errors include duplicate charges, incorrect patient information and inclusion of a service not received. These errors cause you or the hospital to incur losses; they could also contribute to medical claim rejection. If you work at a health facility, don’t be too hard on yourself when there are errors in your medical bill. However, it would be wise to invest in a medical billing system to nip this problem in the bud. Stick around to learn the features to prioritize when selecting a medical billing service.
1. Financial and accounting management
Errors in the medical bill could cause patients to overpay or underpay. An excellent medical billing service should help you track your finances to avoid losing money to errors or refunding money to patients who paid more than they should. In addition to that, a medical billing service should also break down your hospital expenses and income and help automate the payment of salaries to your staff members.
2. Encryption of data
It is your responsibility to ensure the patient data in your medical billing system remains confidential lest you face a lawsuit and hefty fines. First and foremost, it would be wise to choose a billing system that complies with the Health Insurance Portability Act. The next step would be to ensure that your patient’s data remains encrypted and protected by using strong passwords. Cloud storage would be a safe way to store patient data as you can easily retrieve it if the files get lost.
3. Scheduling programs
Gone are the days when doctors used manual calendars to schedule appointments. Manual scheduling is tiring, and you risk booking two clients simultaneously. Therefore, as you look for an appropriate medical billing service, it would help to choose one with excellent scheduling features. The program should indicate when you are booked and use color coding to make your work easier.
4. Management of medical claims
Filing a medical claim can be pretty tedious, especially if it is done manually. You are also more likely to make a mistake when you fail to automate medical claims management. An excellent medical billing service should help your staff validate health insurance claims and codes before reporting back to the clients. It would also be best to choose a billing service that can handle tracking, insurance listing and electronic claims processing.
Last but not least, you wouldn’t want your facility to get in trouble with the law because your operations don’t align with the law. The medical billing service you choose should be in line with the HIPAA regulations on your patient’s data privacy. The accounting software should also have provisions for tax payments and other permits that will keep you in the good books with the federal authorities.
A medical billing system helps you improve efficiency at your healthcare facility, automates billing tasks, minimizes errors, and facilitates better financial reporting. These systems also improve patient care, which is crucial when running a healthcare facility. We hope this article has helped you in your quest to choose an appropriate medical billing service.