Telling Great Billing Systems From Just “Oh Well”
If you’ve been billing for some length of time, you’ve no doubt worked with numerous systems and know the must-have features required to produce accurate claims and avoid denials. You likely also know some systems you would prefer to avoid in the future. A great medical billing system can ensure your insurance claims are complete and error free, thereby avoiding rejections, denials, and extra work from the errors that harm cash flow. Patients also have more confidence in your business when all the numbers add up and there’s less confusion to cause stress.
But what if you are less experienced? How do you tell a great system from one that’s just O.K.? The answer to this question can make all the difference in the world.
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Why Cloud Software Matters
While the service that you provide to your patients is the core of your business, your billing processes are the blood-flow of your finances. Ensuring correct billing codes and managing patient information is key to the ongoing financial success of your practice. Instead of searching for information on paper or on your computer system, billing software provides the structure that reduces errors and increases accuracy.
When In-House Billing Succeeds
Once you’ve made the decision to upgrade your medical billing processes, you need to decide what kind of medical billing option is best for your business. Do you want to outsource your billing, or would you like to use in-house software? The key to success is having both experienced staff and the right billing system to make their efforts count.
In-House Billing Gives You Control
In part, this depends on your staff. If you have a core staff that can handle your medical billing, and you have control over training that staff, in-house medical billing will allow you to maintain control over your billing. If you have a question about a bill or a potential error, you’ll be able to see what’s going on by simply by walking across the room.
In-House Billing Requires a Trusted Staff
In-house medical billing also works well when you have long time, respected staff handling your billing. Billing takes competence and ethics. It’s an area where it’s easy to make mistakes, and there is the potential for fraud. If you have staff you can trust and procedures in place to check their work, in-house billing can allow you to keep tabs on what’s going on with your billing practices.
Cloud Software: Control Costs, Security, and Accuracy
If you have your own staff working on billing, their workload may be higher at certain times of the year, but your costs will generally be transparent and stay the same. Outsourced medical billing often has variable costs depending on the amount of work, and you need to check for extra fees that could be added to the work.
If you often operate with new staff, a very small staff, or in multiple locations where it’s harder to oversee billing processes, you might consider outsourcing medical billing. It’s harder to maintain in-house medical billing when you have staff who are not completely trained or a small staff that would be greatly impacted if one person gets sick or leaves. Staff at an outsourced billing company are subject experts, and they can help you move claims denials processes forward and reduce errors. If you’re in a position where you’re often training new staff and don’t feel that your staff can manage in-house billing, outsourcing your billing could be the option for you.
Many practices choose to manage their finances in-house with medical billing software. If you’re looking for answers to your in-house medical billing, sign up for a free version ofPracticeSuitetoday.