Top 5 Strategies to Improve OTC Payment Performance With Electronic Medical Billing Software

For many practices, the proportion of over-the-counter (OTC) payments has recently grown from an average of 15% to as high as 75% of total payments. Systematic OTC collections, including measurable process that emphasizes upfront collections, often yield double-digit billing performance improvement. Most importantly, a disciplined and transparent collections process improves provider-patient communications, while early payment collections are also quicker and easier. Better communications and happier patients mean better health and more profitable practice.

OTC payments include copays, fees for non-covered elective services or retail products, and any outstanding balances. Successful collections of OTC payments require measurable collections process, specialized information technology infrastructure, adequate personnel training, and discipline.

OTC payment collection performance and costs greatly depend on elapsed time between service and payment. Collections performance dependence on collections timing stems from the dynamic nature of price-value relation: initially, perception of value received is high in the patient's mind. Similarly, correlation between value and price is also high. However, OTC payment collections grows more difficult in step with fading memory of service benefit.

Systematic measurement of OTC payment quality is critical for its performance improvement. Vericle's OTC payment quality metrics include the percent of accounts receivable beyond 120 days and the time spent on collecting on old account balances. While the national average of the first metric hovers around 18%, some practices have accumulated as much as 50% of their accounts receivable beyond 120 days. The second metric measures the front-office collections efficiency and it too varies widely between few hours per month to double digit hours per week spent by front office personnel chasing unpaid OTC invoices.

According to Vericle experience, the following systematic and measurable payment collections process leverages electronic medical billing software and establishes the discipline required for double-digit billing collections improvement:

1. Publish your payment collections policy and standard responses to typical patient's objections.

2. Clarify patient statement generated by your electronic medical billing software:
   1. Make outstanding balance easily identifiable.
   2. Add specific statement about the time period expected for balance payment (typically upon service or product delivery).
   3. Include phone number to call for patient questions.

3. Use electronic medical billing software to
   1. Test patient's eligibility and coverage. The results of such a test define patient's copay prior to her arrival to the clinic.
   2. Generate front office alerts about impending patient visit with unpaid OTC balance.

4. Train clinic physicians to direct patients to front-office staff to review financial statements.

5. Train your front office to collect OTC payments:
   1. Hold your front office staff accountable by setting up specific and personal collection goals.
   2. Use electronic medical billing software to track individual front staff collections performance.
   3. Establish personal awards for accomplishing collections goals and periodically review personal collections performance.
   4. Train your office staff to receive electronic medical billing software alerts.
   5. Develop a payment collections script and rehearse it with front office staff to improve front-office staff-patient communications.

Successful OTC payment collections help patient relationship management and improve practice profitability. They require measurable collections process, specialized information technology infrastructure, and adequate personnel training and discipline.

Yuval Lirov, PhD, author of "Mission Critical Systems Management" (Prentice Hall), inventor of patents in Artificial Intelligence and Computer Security, and CEO of Vericle.net Billing Technologies and Services. Vericle? unites hundreds of billing services across the nation. Its electronic medical billing software tracks payer performance from a single point of control and shares compliance rules globally. Yuval invites you to register to the next webinar on audit risk at BillingPrecision.com.

3 Benefits of Web-Based Electronic Medical Billing Software

When you decide to opt for Web-based medical billing software you will find many great benefits. These include but are not limited to, reduced install and maintenance costs, security from natural disasters, anytime access.

Anytime Access

A major benefit of a Web-based medical billing solution is that you can access the information anytime. Whether you are at home, or in the office, you only need an Internet connection and you will be able to access all the information you need. Late at night or early in the morning or during the day you will be able to access the information for your practice.

Reduced Install and Maintenance costs

Another benefit of the software being Web-based is that there are much lower installation costs. You will see this benefit right up front as it will be the first step that you go through. Another benefit is the reduced maintenance cost. Many server based technologies need to be upgraded and constantly monitored. This can sometimes lead to unexpected costs to help maintain your current system. With Web-based technologies these maintenance costs are much, much, much lower.

Accidents unfortunately happen

As much as we like to think that accidents never happen to us, there is a chance that they just may. Many people use insurance to cover them incase of these major accidents. But many people do not think about what is going to happen to their information in an accident. With Web-based electronic medical billing software there is greater satisfaction in knowing that if an accident where to go through a horrific accident, you would be not lose all of your records. If there were a fire, earthquake, flood and your servers were hit, you would lose all of your client information. But if you had a Web-based software solution, even though your office may be damaged, your records wouldn?t be. You would be able to be up and running in almost no time.

So when deciding between Web-based and server side software remember these major benefits of Web-based medical billing software.

Alex Hachtman is a Marketing Specialist for AdvancedMD Software in Draper, Utah. For more information about medical billing software, please feel free to contact an AdvancedMD representative.

Medical Billing - Software System Reports

In the land of medical billing, we get so caught up in the day-to-day operations of getting the bills out, we completely forget about checking to see if our software system is operating the way it should. Needless to say, as problems become noticeable, it is usually because of neglect in keeping an eye on things. In this review, we'll go over some basic system reports that you should be running just to make sure that your software is performing the way it should.

The first report that you should be running is an error report. All software packages track any kind of errors that occur during processing. This could be any kind of processing from submitting claims, to printing forms to running other reports. This error report should be run on a daily basis. The number of errors that occur should be minimal to say the least. If you find a gradual increase in the number of daily errors, this could be an indication that there are problems with the software. The most common of these are corrupted databases. If you suspect this, run a utility to check the integrity of your various databases.

The next report you should run is what is called a failed request report. This usually has to be run on the server unless the software package itself has this capability. Most high end DME software packages do produce a limited failed request report. But if you really want to get a full blown report with all the details that you're going to need. The usual cause of failed request is a bad network connection. If this is what you suspect, have your network administrator run diagnostics on the network. Also have him check all the wiring and network cards in all the computers. Usually the failed requests will come from one particular computer which narrows down your search for the culprit.

You're also probably going to want to run a report on network activity and system resources. For the most part, unless you have a massive billing department, the activity on the server should be minimal. Memory usage shouldn't even register a blip. However, if you find that there are spikes in memory usage, you might want to look at the times of the day that this is occurring. Find out from the billing department when their heaviest periods are as far as billing and other activities. See if there is a correlation between the two.

Finally, you're going to want to run a report to see the rate at which your databases are increasing in size. If you are a large medical billing company, your databases are going to grow at an alarming rate. While your server capacity may be in the gigabytes, it doesn't take long before you find that your medical billing software is hogging up 50% of your disk space. Once you see this happening, you're going to need to make plans to either add another drive or upgrade the one you have.

Medical billing is more than just sending out bills. If your system isn't functioning properly, you could be out of business before you even know what happened.

Michael Russell

Your Independent guide to Medical Billing

Medical Billing - The Internals Of Software

The things that medical billing people take for granted. Open up your software, push a button, login. Push another button, get a patient menu. Push another button, pull up a patient. Click, click, click and the process goes on and on. Medical billers have no clue what is actually going on behind the scenes of their software. In the following installments and this is mainly for you tech heads, we're going to show you exactly what goes on behind the scenes with your medical billing software with the main parts of the system. To cover everything would take a lifetime.

We'll be covering how patient files get put into the system and how they are ultimately access by a biller and placed into a work order to be billed. While this seems like a very simple process, it is actually quite complex and requires a lot of indexing and cross-referencing.

Another thing we're going to cover is how a claim gets sent electronically. This is one of the mysteries of medical billing as this whole process is actually invisible. While you can see a patient being pulled to a page, you can't see a claim file being transmitted. How does it go? Where does all that data come from when you have so many record specifications? How does the software know to interact with your transmitting device, which is usually your modem? These and other questions will all be answered.

We will also discuss how forms are printed. How does the software know exactly where to place that patient name and address? How do you choose a form, as there are so many of them? Where does the data get pulled from when all you see in front of you is a patient name?

If you're curious as to how security is set and how the software knows to lock somebody out of a certain part of the system, we're going to cover that too. The many options that you have to security systems make this part of the system mind boggling to say the least. We'll do a detailed walk through of a DME security system and show how it works.

Wonder how your software knows how to read those automated posting files that come from Medicare with all your money tied up in them? No problem. We'll dig deep into the auto posting system so you can see exactly what is going on behind the scenes there.

What about those add-ons? How does the system know that you even have them or not? Remember, they are not part of the standard package and have to be added later. So what is actually done by the software maker to let your system know that an add-on is there?

Finally, we'll show you how the software manufacturer can tell if you have a valid copy of the software and when it's time to pay your maintenance fee on it. This gets into some really low level programming.

The above topics will all be covered in future installments. So get a box of lightly salted popcorn and enjoy the show.

Michael Russell

Your Independent guide to Medical Billing

Medical Billing - Getting Your Software To You

Medical billing agencies take a lot of things for granted. They purchase a piece of DME software in order to do their daily billing and they expect everything to run perfectly. Well, in the real world, it isn't quite that simple. There is a lot of work that goes into putting out a piece of medical billing software. While we're not going to attempt to dive into this process in great detail, we're going to try to give you a decent idea of what goes into getting your DME software to you. In future installments, we'll cover this in more detail.

The first step in the process is actually deciding what is going to go into the software itself. This is usually determined by the owners of the company, but frequently, the programmers have a big say in the final product because they may know what is and what isn't possible. Just because management wants something doesn't mean it's going to be done.

The next step is to actually begin the design of the software itself. This involves specifications that are general as well as detailed. The software needs to be given an overall look to go along with the individual bells and whistles that it comes with.

After the software is designed, piece by piece, each section is given to a QA person to test. It is their job to make sure that the section of the software that they are testing works the way it is supposed to, whether it be billing, printing forms, updating prices or whatever. Because medical billing software is so complex, a team of QA people are usually assigned to test it.

If any bugs are found in the software through testing, the QA people send the software back to the programmers. This process continues until the software is found to be bug free.

The software is then given to the support people to learn. The reason for this is because they are the ones who are going to be taking calls from customers who have problems. So it is their responsibility to learn every inch of the software that they can.

Finally, after everything is completed, the manuals are written by the QA people or tech writers, depending on how the company is structured. These are the manuals that are distributed to the medical billing companies who buy the software.

When all of that is done, the software is then packaged in a nice neat and pretty box. This box is made by the graphic artists team. If you don't think presentation is important, think again. Presentation is almost everything in the business world.

After the software is packaged, it is then given to the sales people to distribute. These people usually have leads to companies looking for medical billing software. That's where they start.

It's a very long process from start to finish. So when you finally do get your DME software, try to understand that a lot of hard work went into getting it to you.

Michael Russell Your Independent guide to Medical Billing

 

Downloadable Billing Software

You run your own business. Do you have a system when it comes to billing? If not, then you could be losing money. Downloadable billing software is a great option when you are looking for something that will make your billing tasks easier. Are you not sure you need to buy downloadable billing software?

There are a lot of benefits for using downloadable billing software for your business. The first is that it will help your business run smoother. When you need to type and print every invoice by hand, this wastes time, especially if you have a lot of work to do.

Downloadable billing software can also help eliminate paper waste by making your business more electronic. Printing extra copies of your business transactions is not necessary, as long as you constantly back up all your customer files. If you only have your files in one location, if something happens, it can spell disaster. Possible ways to back up your files include having an extra hard drive, putting all on a DVD or CD, and putting the information on more than one computer.

Another benefit is that downloadable billing software can do more than just take care of accounting tasks. The extra features are nice, especially if they save you money. Some let you print out labels and create reports and other business documents. You can also have the software automatically generate statements on a specified time period, which is nice if the service you perform for the customer is ongoing, such as a long-term contract project.

Downloadable billing software makes running your business a lot easier. It helps automate your business, keep track of billing and accounting, and generate automated statements. Once you find the software that is best for your business, it will make your business run a lot smoother.

Billing Software provides detailed information on Billing Software, VoIP Billing Software, Chiropractic Billing Software, Free Billing Software and more. Billing Software is affiliated with HIPAA Complaint Medical Billing Software

Used Billing Software

One of the best ways to save money on our purchases is to tap the 'used' market, which means buying second-hand items. This is because doing so can provide access to some of the best deals and the lowest prices for quality goods. However, people who tap the second-hand market are not only given access to lower prices on products like appliances and clothes. Nowadays, people looking for a good price on software can also tap the used market. This is especially true for billing software because as companies expand, the billing software that they use needs to be replaced to accommodate the expansion, meaning that they have to replace their existing software. However, getting used software requires that you take the necessary steps to ensure that you are getting good quality software for your money.

Tips on buying used software

To get good quality used billing software, there are a number of steps that you can take to help you. They usually involve employing the same amount of meticulousness, if not a little more compared to when you buy brand new software. One of these steps is to read the customer reviews of the software you are considering because knowing what people think of the software can give you an idea on whether the software fits your requirements. Another step includes making sure that the software you are buying is compatible with your computer, which is very important for billing software because of the specific system requirements that it has.

More importantly, you should also make sure that you are buying from a reputable seller, by making sure you are getting the original version of the software and not copies. Other steps you can take include making sure that you are able to get the manuals that come with the software and asking for a warranty and return guarantee from the seller.

Nowadays, people looking for a good price for billing software can access the second-hand market. Individuals and companies that have replaced their old software sometimes opt to sell their old software to those who may find a use for them. However, buying used software also requires the same amount of meticulousness that people employ when they buy brand new services to ensure that they get good quality software and a good value for their money.

Billing Software provides detailed information on Billing Software, VoIP Billing Software, Chiropractic Billing Software, Free Billing Software and more. Billing Software is affiliated with HIPAA Complaint Medical Billing Software.

Count the Ways Medical Billing Software Helps You Save

Wouldn't you want the newest billing software that meets all the needs of your business? Your clients will be more satisfied with the service you give them. Your staff will stay on top of details and be more efficient. You will be able to manage your practices with less worries and stress. Medical billing software is the easy, simple solution that will help you treat your patients right, make life on your staff less complicated, and help you stay in control of your business.

Now let's count the ways medical billing software can help save you time and money.

1. Easy-to-use and maintain

2. Efficient and accurate in data entry process

3. Customizable to your office

4. Can work efficiently and effectively with multiple clinics

5. Doctors can schedule and manage patients from their office

6. Entry screens are easy to handle

7. Save on data entry time

8. Costs less than old software

9. User friendly

10. New employees will learn how to use it quickly

11. Tracking reports are ever changing to fit practices needs

12. Stay connected and updated with all your offices

13. Work anywhere with an Internet connection

14. It's secure--HIPPA-compliant servers back it up 24x7

15. Technical Remote Service always available for your needs

16. Tier 1 data center facility ensures system upkeep

17. Reduce IT costs across the board--no extra servers, log-ins, or installations needed

18. Synchronize data

19. Pay-as-you-go--upgrade or keep it simple depending on your practice needs

20. Updates installed often (usually weekly) and major upgrades as you go along

21. Guided setup makes it easy on staff and you for use

22. Professionals train staff and offer continuous help

23. Organize and retrieve client folders without hassle

24. Multiple locations can work on the same real-time data all day

25. Reports are always up-to-date no matter where you are

26. Can archive, download and run reports day or night

27. System speed is quick

28. Pre-configured defaults

29. Have option for patient and appointment data imports

30. It's web-based and easier to handle for your office than the old software

What do all of these mean for you? They mean better accuracy, more efficiency, and greater benefits for all involved. Not only will you save in time and money, but you will also reduce the amount of stress dealing with outdated software that doesn't meet your needs. Medical billing software meets and takes care of your clients' needs, your staff needs, and your needs. It will change the way you manage and keep up on all your office affairs for the greater good.

Jordan Bartlett is a client account specialist with 10x Marketing - More Visitors. More Buyers. More Revenue. For more information about medical billing software please visit AdvancedMD

How to Choose the Correct Chiropractic Billing Software

One important step in finding the perfect chiropractic billing software program to fit your needs is to take a look at your existing computer equipment. With system needs changing on a virtually daily basis, it is necessary that the software program you choose be compatible with your hardware.

You also have the option of upgrading your system if it is not currently compatible with the software option you choose.

Giving a rough estimate, there are approximately 30 different vendors that deal in chiropractic billing software. Prices can range from a couple hundred dollars to several thousand dollars. While cost is certainly a consideration, assuring that you get the best quality software to meet your needs should be the primary consideration. Many new chiropractors, fresh out-of-school may decide to go with a discount software solution in order to save costs. Experts in the field suggest that skimping on costs in the beginning can cause a huge headache in the future. It is often a lot of trouble and work to change over systems; not to mention that your files will temporarily be on hold while the change occurs. A good word of advice is to thoroughly examine your needs and then choose the appropriate chiropractic billing software program for your practice base your decision on need, not cost.

Chiropractic billing software can be a godsend for many practices. Not only will you save valuable space from limiting your need for paper files, your office staff will also be able to retrieve important medical information in a virtual instant. Most offices claim that the best aspect of the electronic billing software is the ability to instantly file insurance claims. This is an excellent way to reduce the cost of office staff and postage. Many of these billing software programs also have a built-in clearinghouse feature to enable the business manager to track and locate any outstanding claims.

Those using some of the more advanced chiropractic billing software programs are able to perform a wide variety of tasks that, in the past, could have taken hours or even days. Some programs allow the administrator to submit claims on a patient to multiple insurance companies. Other programs make billing less complicated when dealing with HCFA, Workers Compensation and Medicare: these programs have the necessary forms built into the program and are easily accessed. It is obvious that there is a plethora of variances in software; the key is to know what you need in a program and search for one that closely resembles your needs.

Chiropractic Software provides detailed information on chiropractic billing and office management software, as well as detailed chiropractic software product comparisons. For more information go to http://www.e-chiropracticsoftware.com and/or visit our affiliate site at http://www.original-content.net

A Review of Medical Billing Software Products

Medical billing software reviews are one of the easiest ways to find out important facts regarding the function and use of certain types of medical billing software, as well as their limitations.

One software package that regularly garners superlative reviews is Lytec medical billing software. Computer experts and users alike agree that Lytec software has many positives, including a clear interface and a simple approach to the medical billing process. The Lytec software suite tracks claims management, patient billing, insurance, and scheduling in a single package. The result is a workspace with a seamless quality in which a group of diverse functions, from electronic medical records to healthcare forms, behave in an integrated and coherent way.

A busy medical practice of any size can be a volatile environment, and a system that breaks down under heavy use is a real liability in this business. Lytec medical software is secure, auditable and completely expandable to your specific needs. More importantly it's simple enough to configure yourself.

NueMD is a medical practice management software created specifically for medical offices that also has received positive reviews. Comments have ranged from “NueMD is a functional and no-nonsense practice management solution transported over the Internet,” to ”NueMD allows online eligibility verification done by the client, claims submission, reporting, and analysis. This software is first-rate and is priced less than most systems of its kind.” Other reviews have indicated that the software is a success in small solo medical practices as well as large-scale operations, owing to its reasonable price and ease of use. The ease of use came up often, especially in terms of even a novice being able to pick it up quickly.

eClinicalWorks, another popular medical billing software provider, also earns a mention. It is considered one of the leading providers of integrated uninterrupted ambulatory EMR (Electronic Medical Records) and PM (Practice Management) systems for multiple-local medical practices that include diverse specialties. eClinicalWorks is an award-winning company focused on customer care and satisfaction. KLAS a research and consulting firm dedicated to improving the performance of healthcare information technology providers recognized eClinicalWorks, with its distinguished “Best in Klas Award” 2004. This accolade is considered one of the most important honors in the field.

Any of these three types of software are likely to provide the clarity, ease of use, and technological sophistication you require.

Medical Billing Software Info provides comprehensive information about medical insurance billing software, HIPAA compliant medical billing software, easy and free medical billing software, and medical billing software prices and reviews. Medical Billing Software Info is the sister site of Medical Billing Web.