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6 Benefits of Billing Software vs Insurance Paperwork

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Stacks of paperwork, long hours in the office, and potential errors. These are just a few of the many stressors that come from billing insurance manually. Maybe you’re someone who thinks they can get by without a medical billing software—and hey, maybe you’re doing okay on your own. But the indisputable truth is this: billing by hand wastes time and money. Sure, the best medical clearinghouse software is an investment, but it’s a worthwhile one that will save you from submitting inaccurate claims that set your payments back. Read on to discover the benefits of billing software vs. insurance paperwork. 

Reduce errors, rejections, and denials

No matter how experienced we are, human errors are inevitable. This is especially true when providers are billing dozens of claims every day. Reliable insurance billing software isn’t always a low-cost option, but it’s a smart financial choice. It makes it easy to avoid errors by scrubbing each claim for inaccuracies to ensure less rejections and denials, so you receive your payments faster without any speed bumps. You’ll save invaluable time with a software, and in turn, you’ll see better results at your business and higher profits. 

Track every claim

With software, there’s no guessing where your claim is or when you’ll be reimbursed. Medical billing software allows you to track your claims and notifies you of any issues that are found. If errors are found, you’ll know immediately so you can fix and resubmit right away. The software will explain the error in detail, so you aren’t left wondering how to fix a problem and wasting more valuable time. Billing software will increase your data accuracy overall and improve your business’s productivity. 

Improve intelligence reporting

Custom reports are a must for a successful billing operation, and they’re also an advantage of medical billing software. Real-time insights help providers understand where they’re succeeding, and where they’re falling short. With these reports, you can access payment data for a deeper dive into your company’s statistics that will ultimately help you improve your business structure overall. Plus, intelligence reporting is a great way to see your finances listed out all in one place. 

Gain better access to patient information

Having access to up-to-date, accurate patient information is crucial to your billing process. If you input the wrong data, that will slow down both billing and reimbursement—which doesn’t help anyone. On top of that, it can jeopardize your professional relationship with patients, and worst case scenario, prevent them from working with you again. Good Medicaid billing software keeps patient information safe and secure, so both you and your passengers can feel confident about billing and working together. 

Streamline coding

Medical professionals use a standard shared system of codes known as ICD-10, which is in its 10th revision of the International Classifications of Diseases. By using a standard set of coding, medical professionals everywhere have a mutual understanding of each code’s significance and are able to complete billing efficiently and accurately. Billing software automates the coding process to save time and reduce errors. The software knows which codes to use, so you don’t have to spend hours deciphering data anymore. The process becomes much simpler, and your business will feel confident that you aren’t filing error-filled claims.  

Enhance patient care

Patients want a convenient, seamless experience. Having the ability to offer electronic payment methods is important for patient satisfaction, plus, having a patient portal where they can access all information about their health benefits and billing statuses is a great way to keep them involved in the process. With electronic payment options, the billing process moves faster for everyone involved.

Final Thoughts

The choice is clear: billing with software is exponentially more efficient than manual billing. Not only will you streamline your operation, but with the right software, you’ll be able to bill from anywhere, on any device! No more long days at the office—bill from your patio, a coffee shop, or anywhere else you find yourself—and feel confident that it’s all processed properly. The benefits of EDI billing software outweigh the cost. Don’t wait to make your operation better. Find a solution that’s right for you today. 

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