Posted By Denton Dickerson On March 21, 2024
Improve Your Collections Process with 5 Easy changes
Is your healthcare organization missing out on revenue due to an outdated or ineffective collections process? Navigating healthcare billing complexities equally demands the right team and the right technology. Whether your organization serves as a public health department or functions as a behavioral health center, you need an EHR, Practice Management, and Billing solution with the right tools to improve your collections process and increase efficiency across your organization.
Let’s dive into the billing claims process and find out what it takes to get the most out of an EHR system…
Secure Payment Upfront
Preempt post-service billing issues by obtaining payment before delivering services. Verify patient insurance before treatment and collect the appropriate co-payments upfront according to insurance and agency policies. Choose an EHR system with real-time Insurance Eligibility Verification (IEV) and Electronic Remittance Advice to help simplify this process.
Submit Clean and Error-Free Claims
Reduced denials translate to quicker payments. Choose an EHR solution capable of “scrubbing the data” and detecting errors to ensure clean claims from the start. Efficiently optimized billing systems diminish claim resubmissions and save both time and money for your organization.
Automate Claims Submission
Once your claims are clean, submitting them efficiently is crucial. Automate this process by utilizing an EHR system that connects with over 5,000 payers through an integrated clearinghouse. This eliminates the need for time-consuming uploads and downloads of billing files (such as 835/837 formats). Enquire about potential costs related to these connections.
Reduce Denials and Errors
Streamline processes by selecting an EHR system that integrates patient scheduling, electronic charting, and billing. Input data once and rely on autofill functionality throughout the system. This feature reduces repetition, saves time, and minimizes errors.
Generate Efficient Reports
With tight budgets and rising costs, tracking the status of claims and understanding your financial health becomes essential. A high-quality EHR system should quickly produce meaningful reports on demand.
If your existing collections process lacks these features, evaluate your workflow and utilize your EHR software to its full potential. These improvements can enhance your collections process and significantly increase revenue. By strategically implementing these five steps, you will empower your healthcare organization with the ability to secure payments upfront, submit clean claims confidently, automate comprehensive claims submission, reduce denials and errors, and generate valuable reports.
If you don’t have an EHR with an integrated billing system, here’s some helpful information on finding the best EHR for your organization.
Originally published by Ashok Mathur, CEO of Patagonia Health