We’re cruising along in our series about the common challenges in revenue cycle management (RCM). So far, we’ve covered the challenges present in the billing and collections process as well as the effect of undertrained staff. Today, we’ll look at health information technology (HIT), focusing on its role in RCM.
HIT is at the heart of the administrative side for every hospital and medical facility. It plays a key role in daily operations. These technologies are used to ensure claims are submitted to payers in a timely and proper manner, respond to denials or rejections, as well as confirm payments are collected.
Some medical practices struggle to put HIT and billing infrastructure into place due to various reasons.
Hesitation to put out those heavy upfront costs can hinder the implementation of much-needed software. Oftentimes, medical practices will find out that the return is worth it. In tandem with a diligent staff, HIT can increase the number of claims submitted and accepted on the first pass. It also allows staff to quickly respond to denials and rejections as well as generate financial reports that can be helpful in tracking progress or discovering areas that may need attention.
Choosing the right software is also very important. Without the appropriate software, providers are not able to file claims effectively, identify coding errors, and monitor productivity, leaving them unable to optimize billing workflow.
When implementing new revenue cycle technology, it’s essential that the software will integrate well with your organization’s existing processes. Make sure to understand the software’s capabilities as well as its limitations in order to choose what will work best for your practice. From scheduling tools to managing the billing cycle, the right software allows for a more simplified RCM process.
It’s imperative to remember that software supports people. Practices still need highly trained staff and a certified medical coder to handle the claims process. Ongoing training is important to ensure that everyone knows their role in RCM and are familiar with the software being used in order to optimize performance.
Some practices may decide that integrating a medical billing company can be beneficial. Hiring a team of professionals that are proficient in medical claims and billing software can relieve staff of those time-consuming duties and free them up to focus on other tasks. Organizations need to select an outsourcing partner that works with their staff and current technology in order to enhance workflow and maximize collections.
At Reliance Medical Billing Solutions, we integrate our services using your current software to achieve a streamlined billing process. To learn more about what we have to offer or to receive a customized quote of our services, contact us at 717-740-2622 or visit our website at www.reliancembs.com.