A recent article by medical billing expert +Joy Hicks listed five areas you need to understand to be successful in medical billing. What made it interesting reading was realizing just how much Medisoft, the most popular patient accounting and medical billing software for small and medium practices, helps you meet the standard in each of those areas. Here’s an overview of Joy’s five standards and a look at how McKesson Medisoft makes it easier for your staff to meet them.
Understanding the Revenue Cycle
Joy’s article points out that every part of the patient contact cycle is important to maximizing insurance reimbursement. Because Medisoft includes patient accounting software, EMR (electronic medical records) and practice management software in one integrated package, you don’t have to do the manual connections between appointment setting, patient encounter, consultations, tests and imaging, diagnosis and treatment. From first contact to final bill, it’s all connected automatically within the software database.
Understanding Insurance Companies
In the article, Joy goes into detail about the differences in coding and billing practices for individual insurance carriers, including those that are part of the Medicaid/Medicare system. Medisoft actually makes it far easier to manage those differences in a number of ways, from out-of-the-box reports to allowing you to set code preferences per insurance company. It even error-checks your billing before submission and alerts you to any problems that might cause a rejected claim.
Understanding Coordination of Benefits
From v16 on, Medisofthas providedsimple support for secondary and tertiary payers, making it easier than ever for you to submit secondary claims for remaining balances. In addition, your +MedisoftEHR vendor can provide technical assistance to help you get through it the first time or two.
Understanding Medical Billing Software
One of the reasons for Medisoft’s popularity among busy small providers is its ease of use. No medical billing software is simple – patient accounting and medical billing is, after all, hugely complex and unwieldy – but Medisoft makes it as painless and intuitive as possible. McKesson has worked with providers for years, and routinely incorporates their wish lists into the regular Medisoft updates.
Understanding HIPAA
The Health Insurance Portability and Affordability Act protects patient privacy by requiring providers and others involved in medical care to follow certain practices. Medisoft is designed to make HIPAA compliance as easy as possible. While it’s up to you to train staff in patient privacy and discretion around the office, McKesson will help maintain privacy and portability of all electronic medical records.
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