The Medical Billing System is not a bed of roses and can be quite challenging, to say the least. It comes with one simple aim which is to ensure that healthcare service providers are reimbursed for their services as soon as possible. To move towards this aim, a provider needs to look into Electronic Health Records (EHR) that can substantially increase their revenue. Today, we will have a look into how an EHR system impacts the billing side of your facility.
Utilizing EHR software can optimize administrative tasks which would end up saving time and enhance productivity. They have the added benefit of catering to the billing side of a healthcare organization. They come equipped with features to give extra attention to denial claim management, medical coding, and invoicing.
EHR and Medical Coding
If you are a medical provider, you would understand how crucial medical coding is. It plays a significant role in avoiding denial claims, and rejections, and maintaining timely collections. EHR has released multiple features to assist with code lookup, documentation, and claims management. A major source of lost revenue is denied claims. Managing them can include, resubmitting, further rejections, and underpaid or error-prone resubmissions. This can cost your practice up to USD 100,000 monthly.
Keeping claim denials to a bare minimum should be the primal goal for any practice, and a great EHR system can very well ensure that. This system will assist you in thoroughly analyzing claims, and interpreting codes without any mistakes. This will give your practice an in-depth report as to what is the cause of the denial and how to counter it. This will also ensure mistakes are not made twice.
If the analysis is incorrect and you fail to detect where the problem lies within denied claims, your practice will likely repeat those errors. EHR systems in place make it convenient to manage denial claims, with keeping a close check on the originating sources once detected. A doctor or physician’s paperwork plays a significant role in reducing or increasing claims. The EHR will surely let the healthcare providers and the medical staff know how to prevent claims from their end.
EHR systems vary and depending on which kind you have in place for your healthcare organization, they provide different facilities. Most systems cater to extensive documentation with structured layouts and voice-to-text features. They are designed to assist in saving time and maintaining the quality of the records. They also in the long hall help the physician with providing better care.
However, some features may not be as friendly as you would hope as they lead to violations in the False Claims Act. They are fairly easy to click and point which may enable a higher level of service to be assigned. This may also result in an overpayment. These charges would usually go undetected until they pile up and complaints start coming in. This may also come up when an auditor goes through the records.
Utilizing the EHR system would not lead to fraud or errors, however, choosing the wrong codes manually will. To counter this problem, it is recommended that medical providers look into hiring a certified Professional Coder to review the claims.
A few factors to keep in mind to maintain error-free documentation are
- Caution when importing a patient’s previous examination.
- Include details of the patient visit.
- Ensure settings are up to date.
- Avoid documentation shortcuts.
- Review before closing notes.
- Avoid copying and pasting.
- Look into patient details for errors, instead of solely focusing on revenue-related information.
- Customize your templates.
EHR and Charge Capture Process
The significance of an EHR system is apparent throughout the healthcare industry. One area in focus is the charge capture process.
A healthcare facility maintains a record of the resources a patient has used which includes but is not limited to equipment, testing, medical supplies, medication, or medical staff. These charges are captured and billed to patients or third-party entities, if applicable. There are times when these records are not maintained properly and the utilization of service is overlooked. The process to charge capture is not a simple one, making it even more significant to have a system in place to after it. The EHR system ensures that charges are being captured promptly without any error to maximize the revenue of your practice.
This system also enables the inclusion of a list of Current Procedure Terminolif codes that provides the user to easily input information and minimize mistakes. Many EHRs have mobile or portable technologies which can further assist in managing the charge capture process.
Choosing to install the EHR system entails fewer errors and a smooth operation of your medical facility. This will reduce duplication and utilize less effort from the medical staff onboard who can then focus on providing care. However, an owner of a healthcare facility once must ensure that the system in place has the necessary features and suites the nature of the practice. It’s a key decision to choose which kind of EHR to go with. The right choice makes an incredible difference in results.
In the end, we would urge you to consider the EHR system for your facility, and make the right choice while doing it.
CBD and Drug Tests: How To Take CBD & Still Pass A Drug Test
CBD and Drug Tests: How to Pass A Drug Test Even After Taking CBD Love the benefits of CBD but…
incident objectives that drive incident operations are established by the:
Incident objectives that drive incident operations are established by: A. The planning section chief B. The operations section chief C….
Review Effective EHR software: Can it improve your revenue cycle?.