Who said, “Time is money”? Your first thoughts might be one of several successful 21st century business moguls like Richard Branson, Donald Trump, or Warren Buffett. If so, you would be wrong.
This quote is credited to none other than Benjamin Franklin (January 17, 1706-April 17, 1790).
It seems that the observation of the importance of efficiency has been around quite a while.
Many medical offices’ processes are prime examples of wasting time. Let’s look at a few of these inefficient situations:
- Manual entry of patient demographics. Countless hours are wasted by entering patient information like address and insurance coverage. Optimally, your medical billing software should allow the user to access payer eligibility information to build your patient demographic file.
- Completing, collecting, and then entering charge data from charge slips or “superbills”. This process is ripe with issues. Slips are easily lost and keying of data takes time and provides a perfect environment for data errors. A biller can easily fall behind, creating potential for “untimely filing” denials. Software that is accessible via internet can allow any user with a computer to enter charge data onto an electronically formatted charge slip.
- Submission of paper claims to payers or using multiple payer sites to enter electronic claims. There is no reason to have to spend time logging into multiple sites or printing and stuffing envelopes. Your practice management system vendor should coordinate transmitting electronic claims for as many payers as available through one ACH.
- Retrieval of ERAs from payer sites, and adjudication of payments. Modern medical billing technology can virtually eliminate this giant “time suck”, freeing up staff time and preventing entry errors along the way.
- Copying of denial EOBs for accounts receivable follow-up. Rifling through stacks of papers to call the payer, writing notes, then trying to remember what the status of the denial is …. no one enjoys this. By having a specialized Accounts Receivable module, paper copies are a thing of the past in advancedmedical billing software.
Why is it then that medical practices mire themselves with slow and tedious processes that reduce productivity and delay or even prevent proper claims reimbursements?
I do not have an answer for this, but I do have the solution to the problem: Iridium Suite Practice Management Software.
The advanced features can reduce time wasted by office staff on those areas mentioned above. We even have an amazing ability to communicate via HL7 with your EMR with our Connectivity Clearinghouse. Patient demographic data and charge information can be exchanged back and forth between the two systems in the blink of an eye.
Stop wasting time and money contact us today for your free demo: email@example.com.