The importance of choosing the best Medical Billing System for your Practice or Billing Service is one that has lasting implications and shouldn’t be taken lightly. That’s why we’ve compiled a list of critical features to help you select the best medical billing software for your situation.
1. Processing Claims
Being able to efficiently process claims is fundamental to the medical claim software. If claims aren’t being paid promptly the financial health of the practice is in jeopardy. Assuming all applications send claims electronically you want to think about features that make the billing process more efficient.
2. Scrubbing Claims
How easy is it to create and submit clean claims? Resubmissions put a clog in your revenue cycle; getting claims paid the first time should be your top priority. Higher quality billing systems have claim validation functionality to spot possible rejections before claims are submitted.
3. Choice of Clearinghouse
Can you choose the clearinghouse? Some cheap medical billing software will tie you to using their clearinghouse services – for a not so cheap price. Good electronic medical billing software will allow you to create claim files and upload them to the clearinghouse of your choice.
Every vendor will tell you they have the best support available. So don’t rely on their opinion. Ask the vendor for references and search the internet for user experiences.
Most billing software is intuitive – especially for those experienced in billing. If you have users who will need training, explore what training is available and what the cost is – is it included in the initial purchase?
6. Ease of Use
Do you have to go through several menus to perform basic tasks or access important information? Ask to see the user interface. All features should be easy to find and accessible with few clicks.
7. Timely filing
Does the medical claim software have the ability to prove you submitted claims within timely limits? Make sure the system provides adequate proof to satisfy the requirements for timely filing of insurance companies.
8. User access
Can you customize feature access for each user on the system? For example if you hire a consultant, you may not want them viewing certain data not related to their tasks.
Many providers regularly use the reporting features monitor the financial performance of their practice. Running insurance aging reports is a necessity for billing. When considering report functionality look for reports that:
- Allow you to select date ranges
- Allow for reports be customized
- Display data organized by Payer or Receiver
10. Electronic remittance
When Electronic Remittance files (ERA’s) are available from the insurance carrier, this feature can be a real time saver for posting payment information. Many medical billing software applications have the capability to import ERA’s and post the payment information for all the associated claims paid by the payer.
The medical billing system is something used daily, usually by several people. So although this purchase can mean a monetary commitment, it is important to remember that the application is a key business tool for monitoring the revenue associated with your practice or billing service.
Some features, while they may cost more, can ultimately save you greatly in the long run through increased productivity, fewer rejected claims, or tools designed to identify issues with your billing.
If you already have experience using a medical claim billing software, think about the features of the systems you have used that were helpful. Also think about the features you wish the software had that would have made your work easier.