The 2-minute Guide: Medical Billing Software

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There are many types of medical billing software available, so choosing the right software for your practice can be challenging. Medical Billing Software is a requirement for your practice in order to achieve meaningful use, and it can help with HIPAA compliance

Read more: Physician's Guide to Medical Billing Software | MedicalRecords.com http://www.medicalrecords.com/buyers-guide-to-medical-billing-software#ixzz2W1XKOiEk

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The 2-minute Guide: Medical Billing Software

  1. 1. The 2-minute Guide:Medical Billing SoftwareSummer  2013Wednesday, June 12, 13
  2. 2. Medical Billing SoftwareKey Software Elements123Wednesday, June 12, 13
  3. 3. Current RegulationsMedical Billing Software‣It is a requirement for your practice to achievemeaningful use‣ It can also help with your HIPAA compliance‣Take advantage of trial versions to see whichsoftware is the best fit for your office‣ Focus on: revenue management, fast medical billingcoding, electronic claims management, HIPAAcompliance, and technical support3Wednesday, June 12, 13
  4. 4. Key Software Elements‣Revenue Management‣ Tracks payment received and outstanding‣ Comes with most software because it improves the paymentcycle of your practice‣ Includes accounting and payment tracking features‣Fast Medical Billing Coding‣ Allows you to quickly find and insert billing codes digitally‣ Confirm that the billing software has a comprehensive andautomatically updating list of codes and confirm that the process iseasy to use4Wednesday, June 12, 13
  5. 5. Electronic Claims Management:Key Software Elements5Visual editingError Correction Claim Submission‣Can reduce the time andsave money during theclaims process‣Can increase the speed ofpayments and reduce thenumber of claims rejected‣ Allows you to create and alter insurance claimssing a graphical interface, which makes it easy toadd information and submit claims‣ Reduces errors with alerts of missing information,incorrect ICD/CPT codes, incorrect insurancepolicy numbers, and other potential errors‣ Decreases chances of rejected claims, whichcan save you time and effort!‣ Allows insurance claims to be submitted onlineelectronically, which saves time‣ Types: Clearinghouse system (extra fee) andDirect Online billing with the insurancecompanyWednesday, June 12, 13
  6. 6. HIPAA ComplianceKey Software Elements6User AuthenticationAudit Trails Automated Backups‣ Ensures that medical billing is restricted toauthorized users‣ Via password login, limited access torestricted areas, and automatic log out foridle sessions‣ Record all the activity on a system‣ Allows the administrators to view changes torecords, while files were accessed and whologged in at what time‣ Helps prevent data loss‣ Automatically backs up all your important medicalbills to on-site servers or to an off-site location,ensuring that you will not lose important dataData Encryption‣ Ensures that the medical billing data is secure adonly viewable by authorized recipients‣ Standard is 128-bit encryptionWednesday, June 12, 13
  7. 7. Key Software Elements‣Make sure the medical billing software vendoryou are considering offers technical supportbeyond installation‣ You and your staff may require training andadditional support to ensure proper use of thesoftware‣Check if technical support cost additionalmonthly or annual feesTechnical Support7Wednesday, June 12, 13
  8. 8. MedicalRecords.com works to connect physicians to the best EMR companies, matching the rightEMR system with specific medical practices. MedicalRecords.com is the world’s largest directory ofEMR software vendors. It is a privately held company based in Cambridge, MA whose mission is tobetter organize the EMR software market. The company was founded by seasoned technology andhealthcare professionals in 2010 after the passing of The Health Information Technology forEconomic and Clinical Health Act (HITECH Act).For more information about Medical Billing Software, please visit us at: http://www.medicalrecords.com/buyers-guide-to-medical-billing-softwareHow MedicalRecords.com can help!About UsLocation:55 Cambridge ParkwaySuite 103Cambridge, MA 02142Wednesday, June 12, 13
  9. 9. Thank you for reading The 2-minute Guide: Medical Billing Software.Please visit us at MedicalRecords.com so we can help connect you to the best EMRcompanies!How MedicalRecords.com can help!Medical Billing SoftwareWednesday, June 12, 13

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