Medical billing can be a complex area, particularly if it’s something you attempt to manage in-house. Invariably, clinics and healthcare providers end up investing significant resources when they struggle to process billing without specialist support.
While outsourcing your billing requirements is always advantageous, automation means that relying on external billing support is more cost-effective than ever before. To learn more, take a look at some of the benefits automation in clinical medical billing offers:
1. Secure Technology
As a healthcare provider, you’ll be familiar with the regulations regarding patient confidentiality and data security. When it comes to billing and payments, however, your systems may be particularly vulnerable. As this is the data most likely to be accessed by unauthorized users, it’s essential to take extra security measures to protect your patients and your reputation.
When you work with a specialty clinic medical billing company, you can ensure that end-to-end software is in place at all times. Furthermore, the increased use of automation reduces the number of users required to access personally identifiable information, which means your patients benefit from increased confidentiality.
2. Streamlined Processes
Traditional, medical billing requires staff to have extensive knowledge of the industry. Applying this knowledge inevitably takes time, which slows down the billing process and requires more man-hours. With automation, however, even specialty clinic medical billing can be streamlined and simplified. By making the process more efficient, automation ensures that billing and collections activity can be carried out with minimal human involvement. As a result, your clinic benefits from increased productivity and profitability.
3. Lower Costs
To date, facilitating payments and chasing overdue accounts probably takes up a significant proportion of your resources. Whether you’re paying costly fees to a billing provider or hiring in-house staff to chase patients, there are ways to reduce your outgoings. When the billing process is automated, for example, every aspect of the payment procedure can be conducted electronically. Due to this, fewer staff are required to oversee the process or actively liaise with patients. With fewer resources needed to manage your medical billing, automating this area of your business can significantly reduce your costs.
4. Increased Efficiency
Although it’s normal to give patients a grace period to settle their accounts, waiting for overdue bills to be paid has a considerable impact on your cash flow and bottom line. Like any business, you need to ensure that you are paid in a timely manner for your services. Of course, when staff are under pressure, it may be impossible for them to act on unpaid bills as soon as they become overdue. This delays collections activity and means you’ll wait even longer for funds to clear.
With automated billing and collections, however, the system is capable of initiated action without a manual prompt. No matter how busy your staff are or how far resources are stretched, automation ensures that your billing activity is always on time.
Introducing Clinical Medical Billing Automation
Although automated medical billing can be a great addition to your clinic’s operations, it’s only going to be effective if you choose the right software and setups. At New England Medical Billing, we provide a range of options to suit our clients and ensure you have access to the tools you need. To learn more, contact us today on 888 – 771 – 6115 or 508 – 297 – 2068.