Medical insurance billers (MIBs) once dreamed of a modern way to submit claims that eliminated paper records and allowed claims to arrive almost instantly at their destination.
With electronic medical record (EMR) technology, the future is now. In this informative article, EMR expert, Nitin Chhoda, explains what billers need to know about electronic claim software.
MIBs have the option of purchasing billing software or an EMR for their company’s needs. EMRs offer a wider range of functionalities for use in the 21st century medical billing enterprise.
Modern and convenient, they provide the critical security measures and protections mandated by HIPAA for the transmittal of reimbursement claims.
Medical billing software costs range from $500 to $5,000. EMR technology can be obtained from reputable sources, with monthly user fees as low as $49. Both types of software systems accomplish the same objective, but EMRs offer other functionalities that can make a biller’s job easier and enable them to offer additional services.
Claims and Security
The Affordable Health Care Act mandates that billers submit reimbursement claims electronically. Claims that aren’t will be denied. Submissions must also conform to HIPAA security regulations for transmitting medical data. EMR software complies with both of those goals, has built in safeguards to protect patient information, and will alert everyone within the network in the event of an attempted breach.
Coding and Billing
The upcoming transition to ICD-10 codes has many in the medical field concerned about revenue disruption. Electronic medical records are capable of handling the addition of all the new codes and insurance plan modifications with efficiency and finesse, including those used outside the U.S. Most billers won’t encounter the foreign coding, but an EMR allows MIBs to be prepared.
Billers must implement HIPAA’s 5010 transaction standards for digital transmissions before utilizing the new codes.
Document templates can be created for any practice or specialty with an EMR, and can be modeled on documentation with which staff members and billers are familiar. The systems can be integrated with other clinicians, pharmacies and medical facilities for referrals, prescriptions and diagnostic testing. The full complement of documentation is available to billers for clean claims that are approved quickly.
Many billers are tasked with monitoring and tracking the financial accounts of their clients’ patients.
An EMR allows MIBs to communicate with patients through multiple means that includes phones and mobile devices, mail and email, and text and voice messages.
MIBs can remind patients about outstanding balances and monitor if deductibles and co-pays have been met.
Electronic claims are no longer a futuristic dream. They’re available now with instantaneous and secure transmissions that conform to the Affordable Health Care Act and HIPAA.
The multi-functionality of EMR software allows MIBs to painlessly integrate the new ICD-10 codes, collect client revenues quicker, and offer all the services practitioners require.