Electronic Medical Insurance Billing & Training For Your Billing Service
Electronic medical insurance billing is no longer optional. Doctors will not
only assume you are capable of filing medical insurance claims
electronically, but expect you to provide this service; if you conduct your billing service using only paper claims you will have a hard time convincing potential clients to hire you for their billing needs. In order to get the proper features, you will need to thoroughly examine the many different electronic medical billing options, training and how
they factor into your choice of software and medical billing
Benefits of Electronic Medical Insurance Billing Service vs Paper Claims:
- Faster Reimbursement:Electronic medical insurance billing eliminates time wasted on snail
mail. Instead of the typical 45 day turnaround to receive payment, you
can receive your money and an EOB (Explanation Of Benefits) in as little
as 7-14 days. In addition, more insurance companies are following the
lead of Medicare and trying to mandate the electronic filing of medical
insurance claims. Your software company or clearing house should provide
the electronic medical billing training you need to get insurance
billing service started.
- Reduced Costs:You will eliminate postage, envelopes, CMS 1500 claim forms,
printing and the labor expense associated with mailing your medical
- Increased Productivity:Push a button and your claims can be transmitted electronically
directly to your Clearinghouse. No need to stuff envelopes and you won't
have to wait weeks to find out if a claim is rejected by the
insurance company. By using electronic medical insurance billing
software your insurance claims will not only get there
faster and with fewer errors, but also will usually receive priority
processing. Many sources confirm as much as a third of all paper claims
are lost or rejected vs just a 2 to 3 percent rejection for claims filed
- Immediate insurance Claims Confirmation:Acknowledgment of successful electronic transmission assures you
that the appropriate insurance companies received your medical claims.
- Electronic Remittance Advice:Another key benefit of electronic claims software is the electronic
posting of payments. Most of the top web based billing programs give
your medical biller the option to replace tasks which used to take hours
posting explanation of benefits by hand, with tasks that can now be
done in minutes electronically with participating
Looking for Medical Billing Software? Get multiple quotes and let companies compete for your business:
- Electronic Patient Statement Processing:This service can be a big time saver for your medical office staff;
If your clearing house offers this service you simply upload your
patient statements electronically to the clearing house who will then
print the statements, fold, stuff, put them in a stamped envelope and
mail them all for about same cost as your billing staff doing it
themselves. A good clearinghouse will provide enough training to get you
up to speed quickly.
- Patient Eligibility Verification:This is another service that your business could save time and
frustration if your software and clearinghouse allow you to check
patient benefits through electronic eligibility verification. Again,
when you need to verify with medical insurance companies about whether
or not a patient will be covered for a procedure you won’t have to do it
over the phone. You can do all of your insurance verification through
the computer without having to sit on hold all day. An electronic
medical billing software system automates this process and could save a
busy medical billing service hours each day.
The good news is that most medical billing software
packages include the ability to file your claims electronically to a
clearinghouse with very little additional electronic medical insurance
Medical Billing Clearinghouse Considerations article for help on
selecting a clearinghouse which is compatible with your Electronic
Medical Insurance Billing Service Software
The bad news is that many electronic medical insurance billing
software programs limit or are only compatible with a few
inferior/overpriced clearinghouses. Be sure to choose
a medical billing software that is compatible with a larger number of
If you find yourself stuck with software which has limited electronic
insurance claims submission options, consider filing some
of your claims directly to the insurance carrier. In many states you are
allowed to file Medicare and Medicaid claims, as well as other select
insurance carriers, directly for free.
While the FREE part may sound enticing, of course there is a catch.
Training might be very limited and in most cases you will need to do
"double entry" since the free electronic medical insurance billing
software is typically not compatible with your billing program. You will
need to enter the claims info in your medical practice software so you
will be able to generate your monthly reports and follow up on unpaid
insurance claims. You will also need to key much of the same information
into the free direct billing product.
Choosing the best electronic medical insurance billing
software for your new medical billing service is an important decision
that should be well researched. Be sure that your billing system has
all of the features you need and also consider the many web- based
billing options that are available.
For more information on choosing the best electronic medical insurance billing software, see our software area.
Electronic Medical Billing
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