Currently, there are several major software developers, and while they each have unique interfaces, what they all have in common is that they allow the practice to electronically track a patient from first contact through receipt of insurance payments.
Innovations in technology have allowed practice management software to do more then just schedule patients. This invaluable software can integrate patient information, track claims and provide key reports to ensure the practice receives and payments in a timely fashion.
Easy to use interfaces allow staff to schedule appointments with a few clicks of the
mouse. A first time patients information can easily be entered while scheduling the appointment, some packages even immediately verify the patient's insurance coverage. Once a patient is established in the system, pop up alerts containing; co-pay information, special notes and follow up instructions enhance the scheduling process. Some programs even allow for immediate calculations of the patients' payment.
With web-based applications, such as LenonardoMD access to scheduling, patient
information and forms is available 24/7 from any computer, anywhere. Web based applications also, take the burden of data storage off of the practice. Web based applications store and maintain the databases for the practice. No more in house IT worries.
Every doctor knows that the improper coding of patient procedures is what leads to lost revenue. Use of a claim management module virtually eliminates these errors. With an online database of diagnostic codes, the software eliminates rejected claims due to coding mistakes. In fact, AdvanceMD guarantees that their claims processing software will reduce rejected claims to fewer than 5%. In addition, many software packages offer immediate reports of problem claims, so that they may be fixed immediately. No more waiting a month to find out a claim cannot be processed.
Submitting and reconciling insurance payments is a time consuming process, one that can be streamlined using claim management software. Electronically processing claims allows for tracking payments directly against charges. Another advantage to online claims is quicker payment turn around. While mailed claims can take anywhere from 30 - 60 days to be paid, those that are submitted online are typically paid with in 10-14 days.
Without a doubt, claims management and practice management software keep a medical practice functioning smoothly.
