3 Reasons to Make Sure Your Medical Billing Services are Up to Date
The healthcare industry is one the biggest in the world today. In the United States alone it’s estimated that $46 billion will be spent on healthcare in 2020, according to the Centers for Medicare and Medicaid Services. Besides the actual services medical facilities provide, one of the most important and expensive aspects is medical billing and coding. Their services need to be properly reimbursed just like any other businesses and the enormous influx of patients can make it an overwhelming procedure for even the best equipped centers. Here are three reasons every hospital, medical center, and doctor’s office should consider evaluating and updating their patient billing processes.
1.) Efficiency: Becoming more efficient is good for any business, but it takes on another level of importance when you’re talking about the health and well-being of people. Even though it has nothing to do with the treatments being provided, an improved and up-to-date billing process can be a great way to keep your patients happy. The last thing anyone wants to be worried about after getting medical help is dealing with a clunky, inefficient exit procedure. In a traditional healthcare system there can literally be hundreds of people involved in generating a single bill. From the nurse to the medical coder, as many as 250 people could see it in one way or another. Fortunately, 78% of office-based physicians utilize some type of electronic health record (EHR) system in 2013, up from 18% in 2001. Make sure you’re part of the majority.
2.) Cost: Going hand-in-hand with efficiency is of course the cost-effectiveness of a state of the art billing process. Cutting down on the sheer amount of people involved is one simple way bottom-line costs can be cut. The overall results of immediacy and accuracy only contribute to the benefits.
3.) Convenience: As a healthcare professional, patient care should be a top priority. That shouldn’t end with treatment either. Making all aspects of their visit as convenient as possible should always be a goal. Approximately 73% of American adults say they would use a secure online communication tool that would make it easier to get lab results, request appointments, pay medical bills, and communicate with their doctor’s office. In addition, 43% of customers said being able to choose from different billing options increases their satisfaction.
In the end healthcare is just that, a field of caring for people’s health. That shouldn’t stop with physical treatment though. If your administrative services are outdated, it’s time to get with the times. Your patients will thank you.