Does your practice employ a medical billing specialist? If it does, then you rely on that person to handle your medical billing and make sure that everyone on your staff is doing what they need to do to expedite claim payments and maximize your cash flow. Medical billing specialists have a lot of responsibility, so it’s important to find ways to optimize their workflow. Let’s talk about some of the specific ways an all-in-one solution can make your medical billing specialist’s job easier.
Automated and Built-In Coding
One of the key responsibilities of any medical billing specialist is coding diagnosis and procedure information for your patients. If the codes are not properly chosen and entered, it can lead to claim denials and time-consuming rebilling.
Investing in an all-in-one billing solution can streamline coding of all diagnostics and procedures by providing drop-down menus, search capabilities, and up-to-date coding information that your medical billing specialist can access during coding.
In other words, instead of stopping to look up codes or match them to procedures, your staff can rely on the billing system to do that for them. When claims and codes are matched automatically, there’s no chance that a coding error can delay a claim.
Streamline Patient Interactions
Your medical billing specialists probably spends time every day interacting with patients to clarify matters related to their insurance and billing. Even when a patient has had the same coverage for years, policy limitations related to physical therapy or changes to a policy may require clarification.
The benefit of using an all-in-one billing solution is that it puts every patient’s information at your billing specialist’s fingertips. They’ll be able to review the insurance, check the patient’s treatment history, verify the number of visits and their total coverage, and determine the best way to proceed, all in the same system.
Interface with Special Billing Programs
Different insurance carriers have different billing requirements. It’s your medical billing specialist’s responsibility to ensure that all claims are submitted in accordance with the carrier’s requirements and specifications in mind, since failure to do so can lead to the claim being denied.
When your specialist uses an all-in-one billing solution that integrates with special billing programs, they can be sure that all claims are being submitted properly. For example, HENO is integrated with Office Ally, which makes it easy to submit claims to insurance carriers in accordance with their requirements.
Follow Up with Insurers on Outstanding Claims
It’s not enough to submit claims to insurance carriers. Your medical billing specialist must also take the time to follow up with various carriers to check on the status of claim payments. If they don’t, your practice may run into cash flow problems and your profitability can suffer as a result.
Using an all-in-one billing solution simplifies the follow-up process by making it easy for your billing specialist to print reports of all outstanding claims. With HENO, we’ve made it possible to send and receive faxes within the system, which makes it simple to stay on top of every claim without creating a lot of extra work for your staff.
Follow Up on Patient Payments
In addition to following up with insurance carriers regarding claim payments, your medical billing specialist also needs to look at payments from patients who may be paying out of pocket for their physical therapy.
If you use an all-in-one billing solution, they can follow up on patient payments as easily as they can with insurance companies. It’s important to have a regular collection system in place, and the right software will allow you to follow up and send statements whenever you need to.
Keep Up with Coding Changes and Advancements
It’s essential for every medical billing specialist to say abreast of updates and changes in medical coding as it relates to your physical therapy practice. Using outdated codes is a common billing mistake and one that can affect your cash flow.
If you choose the right billing solution, you’ll always be sure that your codes are up to date. It’s important to pick a company that offers top-notch support and updates codes whenever necessary.
Maintain HIPAA Compliance
HIPAA compliance is a must for every PT practice. Your medical billing specialist must manage all bills in accordance with HIPAA regulations.
HENO uses HIPAA-complaint databases and encryption to ensure that your patients’ sensitive medical information is protected. Your medical billing specialist and staff will always have the tools they need to protect your patients’ EMR and maintain their privacy.
It’s clear why being a medical billing specialty requires extensive training. PT practices rely on them to keep track of a lot of important information that affects not only the practice, but the patients too. You can make your medical billing specialist’s job easier by choosing an all-in-one billing solution for your practice. Ready to see how HENO can help you manage your practice more efficiently? Click here to sign up for your free demo.