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Medical Billing Made Easier
Electronic medical billing has made the billing procedure much easier and more efficient. The software helps in fast and accurate invoicing while reducing denials or rejections. It is a cost-effective way to increase cash flow in the medical office.
The improved productivity is directly related to the software used in electronic filing. That means, if well-programmed software is used to process the billing, the cash flow is more in the medical facility. According to the government, all electronic medical billing must comply with HIPAA, health insurance portability and accountability law.
Some of the software may provide only partial HIPAA compliance. Any lapse in HIPAA compliance could lead to complications and punishment. Built-in compliance prevents any fraud in coding and billing. So before purchasing any electronic medical billing software, it is better to evaluate the complete HIPAA compliance and other security measures.
This type of software provides a wide range of benefits. While paper claims take about 1-2 months to be paid, electronic claims are paid in 10-15 days. This is possible because any error in the claim can be fixed in a few hours, unlike paper claims; where it takes days to notify the error in the claim.
Patient and customer satisfaction is guaranteed in electronic medical billing. The software is well designed so that it is more user friendly, yet very secure. This gives the flexibility in scheduling an appointment and updating any personal information.
With the use of electronic medical billing, employee productivity is greatly increased. Compared to paper filing, E-invoicing does not require much manpower as it is automated. This software is so easy to use; it helps to process the billing very quickly and accurately. E-Invoicing saves time and money for healthcare providers by eliminating printing, folding, sealing and mailing of the statements. As electronic invoicing software produces reports and statements through automation, it saves a lot of time.
One of the disadvantages of electronic medical billing is the cost involved in purchasing the software. Software is available in two forms. First one is completely installed in the computer of the health service and the other is part of the software is in the database of Software Company. Productivity both work the same way. Technology becomes obsolete every few years. So doctors are forced to buy the new ones in the market.
However, when you consider the benefits of electronic medical billing, every penny spent on the software makes it truly worth it.
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