Using a nephrology medical billing service can be a very effective way to manage and streamline your billing process. While there are a number of benefits to using this type of service, it is also important to make sure that you are using a system that is suitable for your specific needs. Here are some of the features you should look for in a nephrology medical billing software system.
As a nephrology practitioner, you likely confront the following major challenge:
- Managing dialysis orders on the move
- Receiving notifications of changes in patient status
- Denials and rejections of claims
- Getting alerted to changes in patient status
- Maintaining adequate documentation
- Correctly billing and coding
Nephrology-specific Billing Will Benefit You in the Following Ways
Electronic Claim Submission
Using electronic claims to submit claims to a payer can be a smart way to save money on claims processing. It’s less time-consuming and requires less effort on the part of the medical practice, and can cut claim processing costs by up to 60%.
Using electronic claims in medical billing is becoming an industry standard. Electronic claims can be submitted in a variety of ways, including via an integrated clearinghouse, or through a third-party vendor.
If you are a multi payer practice, you should consider using an integrated clearinghouse to expedite claims processing. This is also a good way to keep your administrative costs down. You can also use practice management software to create claims that can be submitted directly to the clearinghouse.
Using an integrated clearinghouse to submit claims can reduce the time it takes to submit claims by up to 30-days. Using an integrated clearinghouse is also a great way to streamline the medical billing process.
The average cost of a clean electronic claim is only about $2.90, while a paper claim can cost upwards of $6.63. In addition, electronic claims have fewer errors than paper claims, improving cash flow.
Using an integrated clearinghouse can help you reduce your medical billing cycle by at least 30 days. In addition, you will get real-time status reports. These reports typically list payer, patient, and procedure information.
Some Additional Nephrology-Medical Billing Features
Using Nephrology medical billing software can help providers reduce denials and improve revenue. This software will also improve the overall quality of care by allowing providers to focus on patients rather than data entry.
While there are many nephrology billing software options out there, choosing the best one is important. Nephrology providers must ensure that their software provides all of the functionality they need. A nephrology medical billing software solution will provide a suite of features, such as eligibility checks, patient surveys, and test results tracking.
Verification of Real-Time Eligibility
Performing a real-time eligibility check before a patient’s medical visit is beneficial for both the provider and the patient. It is also a good way to improve cash flow.
The purpose of real-time eligibility verification is to ensure that the patient has the appropriate coverage for their medical treatment. This includes levels of coverage, deductibles and co-pay obligations. Performing a real-time check also ensures that patient data is accurate and updated. It also reduces the risk of claim denials.
Performing a real-time check can also help to prevent delays in collecting payments. By knowing the patient’s responsibility, the provider can collect upfront co-pays.
Performing a real-time eligibility check also improves patient satisfaction. In the past, front office staff relied on numerous phone calls to verify patient information. This led to a number of errors during the claim submission phase of the revenue cycle.
Using cutting-edge patient eligibility verification software can also help to streamline the process. By collecting payer-remit data, the software can identify claim denial risks in advance. The software also provides alerts when corrective action is required within a specified window of time.
Real-time eligibility verification is also a vital part of the revenue cycle management process. It helps to improve patient satisfaction and streamline the front office process.
Why Medcare MSO?
If you are a nephrologist and worried about the financial growth of your practice, then you do not need to be concerned about it. Medcare MSO has a professional staff that has assisted nephrology specialists with revenue cycle and practice management responsibilities for many years. Your nephrology clinic can benefit from our assistance with billing and coding, EHR installation, and healthcare IT services, all of which can lead to more effective practice management and a stronger revenue stream. Therefore, call us at +1 800 640 6409 right now to learn more about how we can simplify your billing process and boost your practice’s profitability.
