Tips to Selecting the Best Medical Billing Software for your Business

1. Tips to Selecting the Best Medical Billing Software for your Business Selecting the right Practice Management System is critical for the success of your medical practice and can help you streamline day to day operations and increase cash flow. Choosing the wrong software solution can impact your revenue cycle, and cause delays in claims reimbursement. So how do you decide which system is right for your business, and what features are essential to ensure your business’s success? It’s important to choose a trusted software vendor that has the best solution relevant to your requirements and can provide you with the proper support every step of the way. The right Medical Billing Software can provide valuable insight and data to the doctors and billers using it and can be an important tool for office staff to maximize their productivity. Here are some tips on how to choose the best Practice Management Solution for your practice or business. Create an Assessment Roadmap Consult with employees about what features they need in a new system, what they are currently lacking, and what would save them time. Study the patient experience from the first appointment to payment collection and identify any functionality that would help streamline this process. For example: Is an online portal for payment processing helpful to secure patient payments and reduce A/R? Make a “needs” checklist and consider what features are essential to optimizing your current workflow and others that can be integrated to simplify the staff’s jobs. Try it Before you Buy it A system can be cloud based or hosted on a private server. If it’s a hosted service, it may require on-site installation which can be more difficult to set up. A cloud-based system offers remote access and eliminates installation efforts and costs. It’s a good idea to sign up for a free demonstration or webinar to view the product and ensure that it can be easily navigated by the staff, and how it can be customized to fit their daily routine. Ask Questions about their Support The software provider should be able to provide a full scope of support and should have multiple channels of communication (live chat, phone, email, etc). You should have a clear understanding of who will be dedicated to your success, and the process of training and implementing the program. Technology is constantly evolving and so are government regulations, so it’s necessary

2. that the software you choose adheres to such mandates, such as the switch from ICD-9 to ICD- 10, and all compliance and security rules. The Healthcare Industry is ever changing, so make sure that any software support/upgrades do not incur a hidden fee and are included in your service. Make a Pros/Cons Price List Consider what investment you are willing to make for features that save on costs, time and help you serve your patients better. Some systems have upfront sign-on costs and long-term contracts and others offer pay-as-you go pricing. The most expensive system isn’t necessarily the best, and the cheapest will not always save you money in the long term. Make a list to evaluate the features you need vs. the price you will pay and any additional benefits/detractors of each software. Ask for Referrals / Do your Research It’s a good idea to get recommendations from acquaintances and to research how established the software vendor is in your particular specialty. Some Medical Billing Software claim to be an “All-in-one” solution which seems convenient, but it can hinder your business if they are only highly qualified in one area. Do not compromise quality for simplicity. Find the expert in practice management and billing systems and also select the appropriate EMR/EHR solution for your specific needs. Often times it’s possible to seamlessly integrate your EMR/EHR with your Practice Management or Medical Billing solution so that it fully supports your specific needs and individual business preferences. The best way to find the right fit is to seek advice from others and do your own research. Authors Bio: The author has been working as software developer with several billing software development firms for several years in different categories and is also an active contributor to technical blogs to maintain her personal interest in latest advancements in billing software. Her experience with both development and implementation issues have helped prepare her to write articles that present real-time perspectives of scenarios, especially related to customized medical billing software programs.