The financial strength of a podiatry practice is based on its accuracy in billing and timely reimbursements. There is a strong need to hire skilled coders and billers who are well-trained in helping podiatrists sail through billing and modifier challenges in medical coding. They also need to invest in the latest medical billing software to ensure that they get paid for every rendered service as soon as possible.
Importance of Investing in Latest Billing Software
Medical billing software is a very important investment for any podiatry practice. It not only enables providers to support patients’ requests in an effective manner but also helps them enhance everyday operations and handle time-consuming tasks.
The latest billing software is ideal for podiatrists who want to increase the number of patients at their practice and ensure extra control over their business operations. Since this medical specialty is always under pressure to bring down costs and boost productivity and revenue, this software becomes a necessity for streamlining billing practices. This can give podiatrists and their staff sufficient time to concentrate on patient care.
Why should your Practice Have the Latest Software?
Podiatrists should have the latest medical billing software that is programmed with billing and diagnostic codes that are frequently used in this medical specialty. Here are some of the benefits offered by the latest software:
Tracking Collections
Even after an error-free completion of claims, most often than not this medial specialty has to re-submit claims because of its complicated coding. With the help of a medical billing software, it becomes easy to track claims in the billing pipeline. The software also makes it easy to manage self-pay patient accounts.
Reducing Errors in Coding
The insurance companies deny claims when the submitted claims don’t have the correct encounter code or diagnostic code. In such cases, the medical billing software helps in reducing billing errors due to which claims either get denied or delayed.
EHR and Practice Management Software Integration
Podiatrists can eliminate administrative challenges by investing in medical billing software that integrates with EHR and practice management applications. This also helps podiatry practices save on overhead costs.
HIPAA Compliant, Secure Records
The latest medical billing software come with enhanced security features that ensure the confidentiality of Protected Health Information (PHI). HIPAA laws get violated when paper records are misplaced or thrown in the garbage. With billing software, it becomes easy to maintain HIPAA compliance and security of records.
In comparison to the manual billing process, medical billing software has made billing and other functions easy and efficient for podiatry practices. For many podiatrists, buying the software and training the staff to use it is a daunting task because of time and money constraints. In such cases, outsourcing to a billing company such as MedicalBillersandCoders.com is the best way to ensure timely payments. MBC has a team of skilled billers and coders who are well-trained in handling billing challenges for 42 medical specialties, including podiatry. The team has been serving practices across all 50 states in the US, helping providers strengthen their revenue cycle and improve cash flow.
