You’ve heard that time is money and this is especially true for physician medical billing services. Making the most of your efficiency really equates to dollars; and it often comes down to how good your medical billing office technology is. At Outsource Receivables Incorporated, we’ve built a technology system that works for our clients. It allows us to maximize efficiency to create cash flow for each our clients.
Below are some great technology updates that are a starting point for cash flow and efficiency of physician medical billing services:
- In-the-cloud computing for virtually everything. Live and work in a virtual environment allowing you to efficiently complete the medical billing process from anywhere with internet access.
- Understand the clearinghouse technology so you can set up your clearinghouse edits correctly. This gives you real-time access to all of your billing. Are you able to pull special reports and access analytics to find the answers and reports you need?
- Do you have a paperless environment that focuses us on files and not paper? Maintaining HIPAA compliance is much easier when you don’t have sensitive documents on every desk.
- Do you receive EFTs (electronic funds transfers) and ERAs (electronic remittance advice) to help you post payments and zero pays quickly and efficiently? To facilitate the reimbursement process you need as many payers on ERAs as possible.
- Always send your patient statements to the clearing house electronically.
- Cycle billing that helps you bill the patient portion faster and breaks up the number of statements and thus evening out incoming calls (and cash flow) is easy with technology solutions.
- ORI has a proprietary feeder system that keeps our reimbursement experts on track with timely follow up for any denials, zero pays, and past due self-payments. Some practice management systems are capable of this and can eliminate timely filing issues saving you money.
- Invest in a telephone system that has intelligence built-in so your medical billing office can handle calls with the highest degree of professionalism and accuracy. At ORI, we provide first party services to present a seamless experience for patients. Our systems let us know who is calling so we know how to correctly answer phone calls.
- Automation of outgoing calls to ensure accuracy, efficiency and accountability for patients in the physician medical billing services cycle and collections process for those who don’t pay their bills.
- Make sure and equip your physician medical billing services staff with dual large screen monitors on adjustable arms to help with eye strain, accuracy and on screen efficiencies.
- Do you use iStream or another electronic check acceptance system (EFT) to speed up the deposit process helping you receive your money sooner? Can you process credit cards immediately and create payment plans? These features exchange receipts for reports and trips to the bank for trips out for lunch!
Physician medical billing services start with the right relationship and then the right technology solutions. Outsource Receivables Inc. provides revenue cycle management expertise to surgical, family practice, specialty clinics, therapy offices, and mental health clinics throughout the Upper Midwest. Located in Minnesota, we have a special focus on clinics in Minneapolis, St. Paul, Madison, Milwaukee, Des Moines, Sioux Falls and Fargo.