Medical billing software is an utmost necessity with the increase in the use of telemedicine. Doctors are on the lookout for harnessing technology to automate not only the medical process but also their billing process. Since they have little time on their hands, they have to ensure that any software they pick is easy to use and integrate with their current system.
Medical billing software reduces the chances of error as well as makes the overall workflow efficient. It is the perfect way to make overall practice management efficient and robust. However, at times this crucial decision is taken so fast, that it leads to a waste of time and money. Here are the 50 mistakes whole selecting medical billing software:
50 Mistakes While Selecting Medical Billing Software
- Not Gathering Requirement
The very first step in buying medical billing software is that people do not gather requirements accurately. At times, people don’t invest enough time to know what type of system they need and what will be used for that system. Requirement gathering is crucial, hence, make sure you spend enough time on that process.
- Ease of Use
Although a system may seem easy to use, at times they become complex after integration. Ensure that the billing software is easy to use for not only the doctors but also for the patients as well. Since patients at times are even tired to make an appointment, an easy-to-use system is necessary.
- User Interface
With the increase of technology, user preferences regarding how they perceive software applications have changed immensely. The modern UI/UX design is necessary to grab user attention. Therefore, before you finalize your decision regarding medical billing software, ensure that the medical billing software is highly interactive.
- Accessibility
Mostly, medical software is used by patients. They are one of the main actors/users of the system. Therefore, it is essential for medical software to be accessible. However, at times while buying and integrating medical billing software, accessibility is overlooked. Therefore, ensure that medical billing software is accessible.
- Budgeting
No business is budgetless. Since your clinic or hospital does have a budget. Therefore, before diving into finding a medical billing it is essential to know your budget constraints. Once your budget and requirements are set, then finding the right software becomes an easier task.
- Scalability
Every business has growth potential and so is your business. When you come across software that meets your business requirements, ensure that it is scalable with changing business needs and requirements.
- Not Involving Finances/Billing Team
Every company has its process of billing and finance. Even if the overall process may seem similar, there are smaller differences that can create a whole lot of differences. Since, your billing team will be the major user of the system, involving the financing team is essential.
- Ease of Integration
Medical billing software has different modules such as practice management, electronic health record management, patient portals, and so on. Make sure that if your medical software has different modules, it integrates with all of them seamlessly.
- Message Communication
In-app communication is necessary. However, there is much medical software that sends out billing reminders or payment checks after a complete check-up. Therefore, ensure that your medical billing software and message module integration are accurate.
- Reading Terms & Conditions
One of the most overlooked aspects of any software is not reading terms & conditions. Since payment involves money and other critical business revenue details, ensure that your business information is secure under strong terms & conditions.
- Claim Management Support
Claim management is an efficient part of medical software. Since it also involves payments and continuous communication with patients and insurance parties. Therefore, ensure that your medical billing software works effectively with cases requiring claim management.
- Bank Integration
Ensure that the medical billing software you use, allows the patients to integrate their credit/debit cards accordingly. Since, third-party payment methods such as PayPal are now being used commonly, ensure that your medical billing system allows payment via PayPal.
- Secure Connection
It takes a single vulnerability for payment systems to get hacked. Therefore, ensure that the medical billing software you opt for, has all the major licenses and certifications claiming security.
- No Customer Support
Customer support is essential for any quick queries and concerns. Hence, make sure that any medical billing software that you use has strong customer support. If they have documentation and recorded training, that is a plus point.
- Invoice Support
Since various users are involved in the utilization of medical software, they must have invoicing support. All the users that are involved in that particular medical flow, must be allowed to view and download those invoices.
- Customized Invoices
Every business has its requirements. Hence, ensure that you are allowed to customize invoices according to your business needs.
- Email Invoice
It is not an essential feature, but if the users can have their invoices in their email inbox, they can easily use it for further processes. For instance, many users can claim OPD from their organizations, hence, invoicing email can be very helpful.
- Feature-Based Purchase
Paying for the whole system, when you need only a few features can make you invest more than required. Hence, when you decide to invest in invoicing software, make sure you buy a system that lets you pay based on the feature you need.
- Late Invoicing
At times software sending out invoices can have a fixed time of invoices. All the users might receive the invoice at the same time. However, it can cause a bit of chaos for a few users. Hence, make sure timely invoices are sent out.
- Late Payment Support
Late payments require the users to pay some extra amount. Therefore, ensure that your system supports late payments and adds additional amounts based on your business setup.
- Client Support
One of the most common mistakes that people make is that they do not check if their medical billing software will have clients onboarded or not. A medical business has to connect with pharmaceuticals or equipment companies. Hence, ensure that your medical software supports client payment schedules if needed.
- Tax Calculation
Including tax in the invoice is necessary. Hence, make sure when you are dealing with client-side invoices, the tax calculation is done accurately.
- No Multi-Device Support
This is a critical point and is often missed out when users feel that they have found the right system. The integrations can become impossible if the invoicing & billing system does not support multiple devices.
- Currency Conversion
Currency conversion is essential if your medical system is used in more than one location. Therefore, ensure that your medical billing software supports currency conversion. Also, make sure they follow the latest currency rates.
- Read/Get Reviews
Even though every medical service has different requirements, it is necessary to get reviews of the system you are about to purchase. Ensure that the reviews you read or take are from authentic sources.
- Trial Version
Billing systems are difficult to integrate. Therefore, make sure you first opt for a trial version. If you are satisfied with it, then you can go ahead and purchase the full version.
- HIPAA Compliant
Ensure that your medical billing software is HIPAA compliant. Since you are dealing with patient data, get a system that keeps patient data secure in all ways.
- Updates & Releases
Look out for a system that is continuously updating itself. Even if the system does not release many new features, ensure that it does have regular updates to current features. Also, the system is checked for security vulnerabilities from time to time.
- Train The Staff
Training your staff is essential. At times the organization and its people face a hard time understanding the system leading to delays. Hence, ask the software you are opting for to provide training for the users.
- Change Management
Although it may seem not an essential requirement it is important to make sure your team is ready for a change. At times organizations are using traditional billing methods which leads to resilience for a new system.
- Medical Billing & Coding
Ensure that your staff knows the coding process for the billing system. At times you might need to enter information manually, hence, the coding process should be clear and easy to understand.
- Insurance Management
Ensure that your system and patient’s insurance data are linked accurately. Since insurance processes are tedious, it is important to see if it works well with your overall system.
- Analytics and Reporting
Financial applications can help you understand your overall spending in a better way. Therefore, ensure that you have a financial analytics and reporting dashboard.
- Revenue & Expense Tracking
Medical billing software is just like any other billing system with specific features. Therefore, ensure that they offer expense and revenue tracking.
- Vendor Management
Medical systems do have their vendors that need to be managed. Having a centralized system helps you with all your medical billing under a single roof.
- Vendor view
Ensure that your system has a vendor view, where you can invite various vendors so that the payment and billing process becomes seamless.
- BI Reporting
With all your users under a single application, you can also check if BI reporting is supported. It helps you to know your business in-depth and the strategies you need to take moving forward.
- Pricing Models
Ensure that the system you purchase has different pricing options as it can help you pay for what features you want to use.
- Cloud-based/Desktop Based
Since everything is moving on a cloud, make sure to get a cloud-based system. However, you can also buy a Desktop-based system if it fits your requirements.
- Poor Denial Management
Ensure that the billing system you purchase has a proper denial management system. Having a denial management flow helps both your practice and patients know the details in time.
- Quality Technology
It is not an essential factor but it is important depending on how far you want to go. Ensure that your system uses the latest technology stack or the one that is continuously improving without having to face any issues related to technology being obsolete.
- Functionality Over Design
Since it is a medical billing software likely to be integrated with your current medical system, focus more on functionality rather than design.
- Open Source / Paid
There are many open-source payment solutions also available. If you have a lesser budget or want a temporary solution, do not rush into paid solutions. Instead, opt for open-source systems.
- Ask Your Staff
Before you dive into search or even include your billing team, ask your staff and users what features they need in the billing system.
- Transaction Fee
Every medical billing system has some transaction fee. Therefore, ensure that you know the overall transaction fee and that there are no hidden charges.
- Automated Reminders
Reminders/notifications for payments are a plus point. Therefore, ensure that your payment/billing system has automated reminders.
- Margin of Error
Although it is a technical requirement and must be checked by the software vendor themselves. Do give a verification check yourself to ensure there are no errors in invoices or bills.
- Transaction History
Transaction history helps you track all transactions in the past. It is a plus point if it has a filter built-in.
- Bank Integration
While buying a medical billing system, do verify if you can integrate your bank with the application. It allows a smooth payment process.
- Remittance Management
The medical billing software you choose should also have a remittance management system. This allows you to track payments from insurance companies, as well as patient payments. It also helps when you have a multi-location medical application.
Conclusion
Overall, a medical billing system may seem like an easy purchase. But there are thousands of factors and points that you need to consider. We have listed the 50 most important features to get you started!