Medical practices’ revenue cycles can get pretty complex, but the steps needed to approve claims and get payments in a timely fashion tend to be more straightforward. Patients get their appointments scheduled, starting the cycle, and concluding the cycle once your medical practice receives payment. If you have all of the tools you need, providers are capable of maximizing the revenue their practices bring in.
Revenue cycles become increasingly complex when working with patients who are dealing with substance abuse. Payments tend to be harder to procure, regardless of whether they come through insurance providers or out of pocket. Fortunately, the right medical billing software could be the answer you need. Here are some features you should have for medical billing software used for substance abuse patients.
Specialty Specific
If you have generalized medical billing software, your billing workflow could take a hit. If you have medical billing software specifically for substance abuse, your productivity will be much more efficient. You don’t have to be slowed down by billing codes that don’t apply to your specialty, making everything not just more efficient but more accessible as well.
Prior Authorizations
Many providers make use of prior authorization, but it’s especially crucial for providers who treat substance abuse. Medical billing software has to include prior authorizations for the treatments of their patients. Otherwise, payments can’t be protected. If the provider provides services before the patient’s insurance company authorizes it, the patient could be the one held responsible for the payments, which leaves the provider with fewer payments.
Total EHR Integration
The integration of EHR (electronic health records) is among the most critical features for providers that use medical billing software intended for substance abuse. Patient data will shift all of the time, and it’s a tedious process entering data into both an electronic health record and your billing software.
Also, by integrating EHR into your substance abuse-adjusted medical billing software, patients will have the ability to access all of the billing information they have without a problem. This information is accessible in real-time, and it helps providers because increase timely payments.
CMS 1500 & UB-04
Medical billing software designed for a provider in the realm of substance abuse has to be capable of using two claim forms that are fairly commonplace across different insurance companies. These claim forms are the UB-04 and the CMS 1500. If you can’t make institutional and professional claims, your claim submission will not be as quick, meaning payments won’t be made as quickly.
If you find a dependable medical billing company to provide you with medical billing software built for substance abuse, these claims can be made and converted much more easily. You can submit your claims automatically to whoever the proper payer is so they can be reimbursed on time.
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