Choosing Medical Billing Software for Billing Companies

Claim reimbursement is increasingly challenging with insurers doing their best to minimize claim payments.  The deployment of well-designed billing tools can help level the playing field, increase income for your medical practices and generate more revenue for your physician medical billing services.

In order to achieve maximum claim reimbursement, it is critical to submit clean claims initially, receive quick insurance payments, monitor denials, and collect patient payments.  When seeking the best medical billing software it is important to have the following functions in your system:

1. Real-time Eligibility:  This function should be built in to your medical billing system to allow staff to check patient eligibility in "real-time" before services are invoiced to the payer.  It eliminates denials for terminated policies or rejections due to incorrect identification numbers, etc.
2. Claim Scrubber: To prevent denials based on the NCCI edits, the medical billing software should have the ability to "scrub" claims for conflicts between the procedures being billed. 
3. Integrated Electronic Invoicing: A medical billing system should allow for submission of electronic claims providing quicker turn around for claim processing.  It also drastically reduces the possibility of claims lost in the mail,  or denied for untimely filing.  As we progress to a "paper-less" environment, this function is crucial.
4. Automated Electronic Payment Adjudication:  The best medical billing software should have the ability to automatically adjudicate electronically received insurance explanation of benefits.  Through this process, insurance payments are posted faster allowing you to quickly collect remaining balances from secondary payers or patients and initiate any appeals for denied services.
5. Practice Management Tools:  You need a medical billing system that can provide all the necessary information to manage your customer's practices reimbursements.  Full ranges of accounts receivable and revenue reports, as well as, practice statistics keep you on top of any potential reimbursement issues and provide the accountability your customer's require.

So remember these 5 key elements of functionality when you are doing your medical billing software comparison.