Computerization is no longer a luxury for a medical insurance biller (MIB). It’s a necessity that enables billers to handle hundreds of reimbursement claims each week and keep revenues flowing to their clients’ accounts.
In this insightful article, Nitin Chhoda outlines the benefits of electronic medical record (EMR) technology for the 21st century billing business.
Billing software and integrated EMR systems are available and both offer electronic medical billing and claims management abilities.
The primary difference is that billing software can cost hundreds and even thousands of dollars, while EMR systems can be obtained from reputable vendors for free.
Computerization is necessary under the Affordable Health Care Act to participate in government operated health insurance programs and submit claims to commercial insurance carrier clearinghouses.
EMR systems also provide the mandated security safeguards required by HIPAA for the transmittal of patient information.
Ninety-eight percent of government claims are reimbursed within 30 days with EMR technology and reduces the turnaround time with commercial insurance carriers to as little as 10 days. EMRs encompass a variety of measures to ensure security for authorized personnel, from passwords and time stamps to biometric recognition protocols. Payments can be posted and patient accounts monitored for amounts owed.
Computerization allows MIBs to assemble a complete record of a patient’s diagnosis, treatment and procedures without the use of paper records. Documentation is gathered for every step of the patient encounter and the data is stored electronically where can be accessed whenever needed.
Information data, including claims, can be stored on the computer or in the cloud, and paper reports can be printed when necessary.
An EMR allows users to import written forms and documents into the software program for storage. The software can be utilized with desktop computers, laptops and tablet technology. MIBs can work from any location where a high-speed Internet connection is available, providing billers with the freedom to work from virtually any venue.
No More Excuses
Insurance companies can no longer claim they didn’t receive the necessary documents in an effort to delay payments. Clearinghouse computers automatically send billers notification when claims are received. Billers can use their EMR to track, monitor and manage claims throughout every step of the payment process.
Customization and Coding
Custom documents can be created within EMRs to satisfy the individual requirements of each insurance carrier.
Claims reimbursements depend on the proper coding and EMRs are able to handle the transition to updated ICD-10 codes with ease.
EMR technology facilitates the claims process for billers and meets all the requirements for the secure transmittal of patient information.
The technology provides a full level of computerization for every task a biller undertakes. The software systems eliminate paper records and offers portability, enabling billers to expand their repertoire of claims services and open up on-the-go opportunities.