If you are planning to hire a medical billing provider to outsource your medical billing and other related administrative tasks, it is imperative to choose a reputable company that can give you a complete A/R management solution. As a doctor or a health care center, you must ensure that the company you choose for medical billing helps you make error-free claims, get them paid quickly, and follows-up to reduce collection time and boost your revenue. For evaluating a medical billing provider, you should conduct performance checks across a few parameters.
Track Their Overall Performance
When evaluating the appointed medical billing company, you must check what changed in the performance of your medical practice post-hiring such a service. It can be done quarterly or annually to see if your company has benefited in terms of revenue and stability after outsourcing such a significant job of billing.
Communication with Your Medical Billing Service Provider
To evaluate your medical service provider, you need to check the quality, the level of communication, and the promptness of their response. Does the billing provider listen to your billing-related concerns? Can they provide a team to sit in-house at your premises if required? Does your staff have any issues regarding their interactions with the company? Such questions will help you decipher the level of sincerity your partner firm has been exhibiting now that you have bought the service.
Check For The Rate Of Accuracy
Whether billing or coding, your medical billing partner needs to be skilled to ensure accuracy in CPT/ICD codes, as a high rate of errors can damage your reputation. If you have hired a billing partner with a team of well-trained and certified employees, the error rate will likely be down.
Evaluate Receivables
If you see that accounts receivable balances are collected as timely as they should be, and the turnaround time is falling, you can be assured that the billing provider is performing the way it should.
Time Taken For Claim Submissions
It is imperative to evaluate if your medical billing provider is submitting claims within time. Moreover, the company should follow up with your staff, insurance company, and patients regularly to seek any missing or additional information required to keep all claims and bills up to date.
A medical billing service is typically hired to manage the workload involved in billing processes. It enables physicians and small or big medical practices to focus better on their core job, i.e., providing quality treatment to patients. The relevance of whether you are making an appropriate choice of billing vendor or not, cannot be overlooked. A proper evaluation of software quality, methods, and performance is integral to the growth of your practice and establishing a great relationship with your patients.
Also, not every billing company using sophisticated technology is as efficient in their services. So, you should ensure your hired provider for medical billing is trustworthy and adept for efficient data migration from your current billing system.
At OmniMD we have the expertise and resources to accommodate your practice needs. We can provide services that grow as your practice does so that you can focus on what matters most: patient care.
Medical Appointment Scheduling Software for Doctors, Physicians, and Clinics
November 18, 2022
It’s no secret that running a medical practice or clinic can be challenging. Not only do you have to worry about keeping up with new advances in the field of medicine, but you also have to figure out how to juggle patients while still making sure they get the care they need. This is why so many physicians and clinics are turning to online appointment scheduling software for doctors.
In this article, we will cover what makes this type of software so beneficial and how it can help your clinic or office run more efficiently.
What Is a Medical Appointment Scheduling Software?
Medical appointment scheduling software is an important tool for doctors and clinics. The software can help you streamline your appointment scheduling process, reduce wait times, and improve the overall experience of your patients.
As a software-as-a-service or SaaS model, medical appointment scheduling software provides an easy-to-use platform for healthcare administrators to handle their daily scheduling activities.
The software allows patients to schedule appointments with their doctors via phone calls, text, email, on-site bookings, and even via social media handles. The software manages the schedule set by the physicians or doctors on duty and automatically reminds the doctors of upcoming appointments.
Physicians who use the software have the flexibility to adjust their schedule at short notice, and the software will reschedule patients as needed. The appointment booking software saves healthcare facilities a tremendous amount of time and money. The cost of implementing this software initially may seem expensive to healthcare operators, but in the long run, it is cost-effective.
Benefits of an Online Scheduling System
Using an online scheduling system means you can take advantage of the following benefits:
Reduce the probability of manual errors to a great extent
Save time, money, and energy: you’ll have more free time to see more patients and grow your practice
Increase revenue by filling in-demand times that are currently empty or hard to fill
Improved care quality and satisfaction by giving your patients exactly what they want: a convenient, easy way to schedule appointments
How Does it Work?
Medical appointment scheduler software handles the same kinds of tasks as a traditional scheduler. The functions of this software typically include:
1. Automated Scheduling
The software enables you to create an automated schedule that can be programmed according to your specific business needs. This way, all of your appointments will be allocated in a timely manner without any manual intervention required from your side. In fact, you won’t even have to worry about double bookings because the app can detect such instances before they happen!
The software coordinates all appointments, taking into account the schedules of doctors, lab technicians, and other healthcare professionals.
2. Accepting and Updating Patient Data
A medical scheduler software helps update patients’ records. It updates contact information like home address, email, and phone numbers. It also updates billing information like the mode of payment of medical bills, banking details, and debit/credit card information and verifies the medical insurance papers of patients.
3. Rescheduling of Appointments
Sometimes, emergencies can prevent a doctor from seeing their patients on the day of the appointment. In this case, the medical appointment scheduler software will reschedule the patient to see a doctor at the next available date. This feature reduces stress and waste of valuable person-hours on both ends of the spectrum.
4. Medical Billing
Medical appointment scheduler software can update patients’ electronic medical records and run an automated system that handles all aspects of billing, including insurance claims for the healthcare facility. Healthcare administrators can rely on this software to make their jobs less cumbersome.
5. Centralized Management
The software allows you to manage all aspects of patient care from a central location, including patient appointments, treatment plan creation, and billing procedures. Everything can be done seamlessly from one single platform.
Qualities of the Best Medical Appointment Software
Medical appointment scheduling software can help you manage your practice and reduce the stress of dealing with appointments. These features of the best medical appointment scheduling software will help you:
Automate your appointment scheduling process to reduce no-shows, late cancellations, and billing errors
Create an online appointment booking system so patients can book their own appointments on their own time
Customize templates for different types of practices and patients’ needs
Integrate payment processing into the scheduler so that payments are automatically processed once the patient confirms the visit with the doctor or clinic staff member
Allow patients to book appointments through a mobile-friendly interface that they can access from anywhere at any time of day
This means no more waiting until after work hours just because someone forgot about their scheduled appointment time! With mobile-friendly software, it’s fast and easy for everyone involved in the processing so no one has any excuse not to use it!
A scheduling system helps you manage the flow of patients, appointments, and resources by automating the process. It also helps you develop closer relationships with your patients, improve the efficiency of your medical facility, cut costs, and maximize your revenue.
Bottom Line
Medical appointment scheduling software is a must-have for every healthcare facility. Whether you’re a small practice or part of a large hospital network, there are several benefits to using this type of software.
You should always test-run the appointment scheduling system before purchasing it. Most providers offer free real-time demonstrations to show the effectiveness of their software.
Also, check out reviews and feedback from other medical centers, especially those offering a similar health service as yours, to know if the software is what your clinic or hospital needs before you commit to buying one today.
What is the Purpose of Medical Billing, and Why is it Important?
November 1, 2022
What is the Purpose of Medical Billing, and Why is it Important?
Medical billing is crucial in ensuring that the billing process is done categorically and efficiently. During a medical procedure, it can get become challenging to correctly account for the different procedures that a patient might require and bill them without errors.
A competent medical billing solution can manage these situations better. Medical billing is particularly important for patients and healthcare practices when filing health insurance claims as it helps mitigate filing errors.
Medical software solutions maintain the complete medical history or patients’ Electronic Health Records (EHR). Moreover, they can auto-check insurance eligibility and co-payment clauses to provide a comprehensive and accurate bill paid off in one go without delays.
Why does a Hospital Need Medical Billing Software?
The medical billing procedure is quite a complicated process with several variables, which, if not handled correctly, can lead to the payment claim being rejected or delayed..
A medical biller ensures that all medical expenses are accounted for and raises any mismatches or errors before a claim is submitted. Medical software provides easy document storage and retrieval in one click and reduces manual efforts. The medical biller ensures timely remittance and sends reminders to payors for quick collection.
Moreover, there are many add-on advantages, such as integrated EHR and billing, ePatient systems, analytical dashboards, and an insightful reporting system that these medical solutions offer that go a long way in improving the profit margins of your healthcare practice.
Reasons to Opt for OmniMD for Medical Billing Solutions
Reduce claim denials: One of the main reasons for failed health insurance claims is a discrepancy between the insurance form and the medical bills. OmniMD medical billing solutions eliminate claim discrepancies and form-filling errors, ensuring a smooth and efficient insurance filing and claim process.
Reduce workload: Medical billing solutions can benefit small-scale healthcare facilities since they can share the billing and documenting workload, reducing the need for staff and saving on salaries.
Centralized System: OmniMD billing solutions are capable of securely storing patient details in a centralized system, which makes scheduling future appointments convenient, helps in better doctor-patient interaction, and faster operations.
Patient Satisfaction: An efficient billing solution ensures faster insurance claim settlements, and the billing automation process makes the process less taxing, leading to better patient satisfaction.
Why Choose OmniMD for your Medical Billing Solutions?
OmniMD is the leading solution provider of electronic medical records, practice management, and revenue cycle solutions. One of the pioneers in medical billing solutions, OmniMD offers dependable, user-friendly, and effective medical billing services to over 600 healthcare facilities.
OmniMD believes in a committed, round-the-clock support service that can ensure that healthcare facilities work as efficiently as possible, resulting in patient loyalty and satisfaction.
Health care facilities benefit significantly from an effective medical billing system since it frees the medical staff to focus on what they do best- treating patients. So, if you wish to see your practice grow, you can contact OmniMD for efficient, affordable solutions for your service.
What is the Best Medical Billing Service in the USA?
Medical billing is a complex but essential part of the healthcare industry, and the best medical billing service in the USA is one that can help you maximize your profits. The best medical billing services will help ensure not only that your bills are being paid but also ensure that they are being paid in full and on time with no complications or unnecessary delays. Medical billers work with insurance companies to make sure that patients receive their full coverage benefits for procedures performed by you.
While admittedly, there are quite a vast number of licensed medical billing companies in operation, very few match up to the competence level of OmniMD.
It, therefore, goes without saying that to improve the coding, billing, and cash flow of your medical establishment, you need to choose only the best medical billing software system available. This post highlights why OmniMD is considered one of the best medical billing software solutions providers in the U.S.
Providing a Simplified Medical Billing Process
While medical billing can be cumbersome, our medical billing solution is designed to simplify the medical billing process of your healthcare practice to ensure that your payment claims are accurate and clean at all times.
Our expert team ensures that your practice is always paid by your patients, insurers, or the government on time with minimum hassle. We help your practice recover any lost revenue while ending instances of payment claim rejections. We ensure that you receive your claims promptly to enable your practice to focus on providing quality patient care.
Our team of medical billing experts is conversant with the latest guidelines in coding and billing, so you can rest easy in the knowledge that the processing of every single payment claim will be done professionally. OmniMD can be regarded as your one-stop medical billing service solution for your entire revenue cycle management (RCM) needs.
Elimination of Billing Mistakes and Claims Rejection
You get paid quickly, as we ensure that there are no billing mistakes, erroneous payments, or claims denials.
Cloud-Based Storage
All patient data, including their medical history and billing information, is stored in our cloud-based system for security, easy accessibility, and paperless documentation.
Savings on Medical Billing Solution Cost
OmniMD provides your practice with medical billing software that can be integrated with your in-house technology systems. It saves your healthcare practice money on independent medical billing software costs, including the cost of employing and training qualified medical billing staff. By reducing your staff requirement, our medical billing solution reduces the need for office space and minimizes your office footprint.
Enhanced Cash Flow
We will streamline your revenue cycle management to promote quicker reimbursement and payment of claims filed to the insurance companies. It ensures that your medical practice has the adequate cash flow to cater to daily operational needs.
Transparency of Operations
We maintain complete transparency of the process. You can view and monitor your RCM process on our platform.
Why should you Outsource your Medical Billing Service to OmniMD?
You should not hesitate to outsource your medical billing serviceto OmniMD for the following reasons:
OmniMD consists of over 15,000 healthcare professionals.
We are currently servicing more than 600 healthcare facilities.
OmniMD has about 20 years of experience in delivering excellent customer service support.
We safely, securely, and confidentially manage over 4 million patient records with distinction.
OmniMD has a 99% customer retention and a 99.95% uptime percentage ratio.
We offer innovative RCM to eliminate errors in billing and coding, claims rejections, and delays in reimbursements by insurers.
We automate your medical billing workflow, reporting, and data integration for a seamless end-to-end revenue management process in your healthcare practice.
We integrate both the EHR and medical billing systems to provide you with a unified software solution suite that meets the specific billing needs of your healthcare facility.
Multiple billing and eSuperbill templates are available to integrate all your medical services into a single comprehensive bill.
OmniMD provides you with an eEligibility program that enables you to instantly know the medical services covered under a patient’s health insurance plan.
In Conclusion
At OmniMD, we understand the importance of analytics and reporting to the immediate and future planning needs of every healthcare practice. Our medical billing software provides an analytical dashboard and insightful reporting system for your performance review and planning needs.
OmniMD offers the best medical billing service in the USA. We have partnered up with some of the biggest insurance companies in the country and offer seamless integration between our platform and their systems. Our clients get more than just advanced billing software but also access to our industry-leading customer support team, who are ready to help at any time, 24/7.
If you are an established practice or planning to start one, we can help you increase efficiency and provide the necessary help in implementing and effectively managing your operations.
If you are looking for the best medical billing service in the U.S, look no further than OmniMD. You can call +1 (844) 666-4631 or schedule a demonstration here with us today.
Today’s Challenges for Revenue Cycle Management in Healthcare Systems
September 1, 2022
Revenue cycle management is at the core of any health care service provider’s sustained existence and growth. The revenue cycle management process keeps track of patients and the revenue side of their treatment. Healthcare providers may make use of standalone revenue cycle management software or incorporate it into their medical appointment software or plug it into the EHR system. Regardless, it plays a crucial role and covers various steps.
Steps in the revenue management process
The hospital revenue cycle management process covers:
Pre-registration of a patient
Registration
Charge capture
Claim submission
Remittance processing
Insurance follow up
Patient collection
There is more by way of gathering data, analyzing it and deriving information that helps to identify weak spots and bottlenecks. The RCM system is complex and needs a thorough grasp of how it works for operators to derive the optimum benefit and overcome inherent challenges in the revenue cycle management. According to Advisory Board, hospitals can lose about $22 million without having an accurate and efficient RCM in place.
Training personnel
This is a key but often neglected area. Personnel who use the RCM software often have to learn it on their own and barely get past the essentials. Knowledge of medical coding as applicable to that region is crucial at the preregistration stage and in subsequent billing stages. This involves a learning curve for which time is required. Due to this some service providers may consider outsourcing to a revenue cycle management company. Coding a medical claim can take hours and needs knowledge that in-house personnel may lack and, therefore it may seem appropriate to hand over revenue cycle management process to expert revenue cycle management services. It also entails additional expenditure so, for the long term, it is best to introduce a degree of automation at the pre-registration stage and put in efforts to get personnel to undergo systematic training, possibly by revenue cycle management consultants. If there is no precise coding then the billing will not be accurate and it results in a loss as well as delays in reimbursement. With training your personnel can overcome bottlenecks of coding, set up the hospital’s charge master and capture charges in addition to being better placed to inform patients about all that is involved right before they register.
Technology implementation
Administrators and doctors in hospitals may not be familiar with how technologies work. Technology may be implemented in a piecemeal fashion with medical appointment software, EHR and revenue cycle management software working in parallel and in isolation. There is no connect between the data in each path and that poses challenges of streamlining operations and keeping tabs. It also becomes cumbersome for doctors or those in charge of RCM to refer to each and concatenate results leading to errors of commission and omission obviously to the financial detriment of the healthcare service. The smart thing to do is to engage expert revenue cycle management vendors or get revenue cycle management solution providers to integrate all disparate streams to be usable through a single interface. If usability improves it aids efficiency and personnel will make optimal use to enhance operations across the board from start to finish of the cycle.
The gaps addressed
Coding is just one part that could pose an immense challenge in the revenue cycle management process. There are others that affect smooth cash flow.
It is vital for healthcare service providers to get their doctors accredited with insurance companies to avoid situations in which claims can be withheld on that ground. Overlooking this step can be a problem but it is easily taken care of with due attention right from the start when a doctor is going to be assigned to treat patients.
The preregistration is a crucial step in which several key information can be missed such as insurance information and eligibility as well as financial expectations of the patient and payment modes as well. One needs to meticulously gather data at this stage.
The registration step of the revenue cycle management process is another step that can face challenges due to inaccurate information and non-collection of advance payments and assigning insurance benefits as well as determining eligibility and amount.
Missing charges is another challenge. Charge capture may be done through manual input of data or automated. Regardless, some charges such as ancillary services may be missed and if recovery is attempted at a later date then a refusal is likely. Revenue cycle management consultants could possibly help address this gap through measures like claims scrubbing technology to ensure coding is done right.
Claims submitted to the insurance payer may not be in full conformity and this is also dependent on charge capture. Errors here may lead to refusal or delays. The solution is to vet each thoroughly and then track claims in real time to ensure only clean claims go through.
Accounts receivables, payments
It is often assumed that claims will be paid in full but that may not be the case. Insurance may pay less than expected and then it is for the healthcare provider to pursue the patient to pay the difference. Not paying attention to this could lead a mounting deficit. This deficiency can be overcome through the use of the right RCM system and by making the personnel aware about keeping track or, better, still, automating the system to send out a bill/reminder to patients fro such payments.
Data analytics
One must know how to analyze data derived from the revenue cycle management process, an area in which medical personnel may not be interested or capable of handling. It is essential that healthcare service providers know about key performance indicators and to keep watch over receivables as well as expenses and generate reports. Engaging revenue cycle management
consultants could bring your personnel up to speed in these areas. The RCM system generates and keeps on generating data that can be analyzed to derive useful information about revenue generation, reduce delays and address issues that affect processing. This is a challenge but training and familiarity through regular use of the revenue cycle management software by assigned personnel will deliver positive outcomes.
These are just a few challenges, mostly on the operational side but there will be others too such as software and hardware glitches from time to time. Retaining revenue cycle management consultants is one way to minimize and overcome challenges and ensure you get the most out of your investment in RCM software. Get in touch with OmniMD to resolve all such challenges and be prepared for future ones.
