Are you looking for a reliable medical practice management or billing Management Software platform for your medical practice? It is worth noting that as healthcare is becoming increasingly mobile in the US and medical information is more frequently required to be shared and exchanged between facilities, cloud-based billing and practice management solutions have becoming the preferred type of deployment, as opposed to on-premise.
The best thing about cloud-based solutions is that they provide all the functions and tools you need from your billing and practice management software without any hassle.
Note that a cloud-based practice management system can streamline your clinical workflows, assist with claims management, automate billing, and lower overheads. This will help increase the overall efficiency and effectiveness of your day-to-day operations, whether you run a hospital or an ambulatory clinic.
You will be happy to know that some of the leading medical billing and practice management software providers offer this as a single facet of their overall solution. Did you know that cloud-based practice management software helps deal with and manage the daily operations of your medical practice?
The Management Software regularly allows users to perform tasks, such as capture patient demographics and schedule appointments. It can also maintain lists of insurance payers and generate valuable reports.
Similarly, using a medical billing software solution for your practice allows you to spend more time and resources on patient care. This is because you don’t have to waste time keeping track of medical billing. Did you know that many leading software providers deliver a cloud-based medical billing and practice management software platform that helps avoid complicated workflows in the front office? It also simplifies and streamlines the billing process for your back office.
Why Choose a Cloud-based Software Platform
There is no doubt that in the last couple of years, many cloud-based medical billing and practice management solutions have gradually become quite popular for numerous reasons. Some of these reasons are accessibility and cost savings.
Different from an on-premise software solution, note that cloud-based medical billing or practice management software solutions operate on remote servers. Note that by being accessible on almost any device, such as a tablet, with internet capabilities, cloud-based billing systems let clinicians and healthcare professionals perform billing tasks using their smartphones or tablets.
This is excellent as it saves health providers time and expedites the number of patients you can see on a given day.
Besides increased mobility, you will be happy to know that cloud-based servers help eliminate the need to spend money and time on the extra staff needed for on-premise solutions. One of the best things is that rather than requiring your IT team on-site to handle issues or problems that arise, your software provider’s support team can easily handle upgrades, maintenance, or troubleshooting.
As there are so many options, note that choosing the right practice management or medical billing software for your medical facility can be quite a challenge, especially if you don’t know your requirements or the software features you desire.
You should know your medical facility’s unique needs, requirements, and preferences beforehand and then choose a software solution with the suitable functions, tools, and capabilities to accomplish your needs.
Medical Practice Management Software Features
Did you know that in addition to the traditional workflow features and financial functions of practice management software, several cloud-based practice management systems also include other amazing features to streamline operations?
And some of these nifty features are:
While e-prescribing is usually a function of EHR software, many practice management software includes this functionality or built-in integration with a pharmacy network or service, such as SureScripts. It is worth noting that many PMS even support the latest barcode technology, allowing providers or nurses to scan medications before administering. This is helpful as it makes sure your patients receive the right medication and dosage.
Financial Management and Accounting
You probably know that billing and claims management are financial functions; however, many practice management software platforms include some robust accounting features. Some of these features are timesheet and payroll management, accounts payable and receivable, journal entry and GL (general ledger), and fixed asset management, which is convenient.
Keep in mind that some PMS includes a built-in and robust laboratory information system (LIS) or some other lab management system. This system automatically sends orders to multiple medical laboratories and diagnostics centers, like phlebotomy labs, optical laboratories, and cardiology diagnostics.
Best Cloud-Based Practice Management Software
Here are some of the leading cloud-based practice management software vendors:
You may have heard of Simplex HIMES. It is a reliable cloud-based practice management solution, which helps clinics, hospitals, and pharmacies manage patients’ medical records and book appointments. You can also use the software to monitor drug inventory as well as plan treatment procedures. Some key features include radiology management, custom consent forms, and insurance management.
The Management Software is excellent as it covers healthcare regulatory compliance and revenue cycle management with auto-update. It is also a highly customizable software platform with several features built-in as a core part of the system.
Your hospital or clinic can use the software solution to manage patient intake, schedule operation theaters, track the status of available beds, and record various patient demographics, such as age, in a centralized database.
Practice Fusion EMR
This is a cloud-based practice management software program that has been carefully designed to improve and facilitate the flow of information between patients and doctors. The main aim is to boost efficiency in medical procedures and save valuable lives.
Did you know that Practice Fusion EHR Software is one of the largest cloud-based EMR (Electronic Medical Records) software platforms today?
Do you run a mental health institution? If so, you will like SimplePractice, which is an excellent cloud-based solution for your mental health facility. The PMS helps wellness professionals, such as counselors automate client relationship management processes through payment processing, scheduling, and documentation.
You can switch to SimplePractice and join more than 90,000 customers that run thriving health and wellness businesses in the US. Some of the key features of this PMS include claims management, appointment reminders, initial assessments, and a self-service portal.
Benefits of Practice Management Software
You will be pleased to know that practice management solutions enable doctors, therapists, specialists, and chiropractors manage electronic health records, track patient information, and control online billing management.
Some other benefits are as follows:
Swift and Timely Reimbursement
These software solutions enable medical coders and medical billers in your organization to search various reports, like remittance reports, insurance information reports, and claim advice reports. They eliminate the need for extensive paperwork and help medical billers process reimbursements much faster.
Focus on Patient Care
Did you know that a high-quality PMS will maintain all of the relevant papers online, allowing healthcare units to easily search EHR documents? As you can track various processes, create progress reports, and capture patient demographics easily, your doctors, therapists, and chiropractors can save time and treat more patients.
Common Features of Medical Billing Software
Note that when comparing several medical billing software solutions for your practice, you should have a comprehensive understanding of the common or standard features the come with this software.
The software can automate the creation, submission, processing, and tracking of medical insurance claims to collect payments from providers.
You can use the software to run medical claims through an auditing procedure before you submit them to find any errors and correct them in coding. This is an essential feature as it helps reduce rejected and denied claims and increases the approval rate
The billing software checks patient insurance eligibility before appointments in order to ensure that patient insurance covers medical procedures and services.
Best Cloud-based Billing Software
AdvancedMD is an excellent cloud-based billing and practice management solution. It is ideal for small and mid-sized medical practices. You can use this billing software to handle tasks like claims management, patient scheduling, and reporting besides managing your facility’s medical billing workflow.
The best thing about AdvancedMD is that it allows your medical facility to easily submit medical claims and post payments in just the blink of an eye. Did you know that its ClaimInspector tool is excellent and automatically scans medical claims and helps eliminate any HIPAA, CCI, or LCD errors?
Did you know that NueMD provides a cloud-based software platform for medical practices of all sizes? Note that NueMD is an integrated and effective practice management and medical billing solution. If you are using it for your medical billing needs, you can use the software to process an unlimited number of medical claims via NueMD’s HIPAA-compliant and dependable claims clearinghouse. Some additional features of this software are integrated credit card processing and straightforward one-click paper claims.
athenaCollector is one of the more economical options, and the software can handle patient registration, patient check-in, appointment scheduling, medical billing and claims management, and performance reporting. This is an excellent medical billing software platform that caters to healthcare facilities of all types and sizes.
Outsourcing Medical Billing and Revenue Cycle Management
You can use a practice management and billing platform to get paid faster. Note that medical billing is a breeze with one of the above software solutions. You can increase the efficiency and productivity of your medical practice further by outsourcing the medical billing and revenue cycle to a professional medical billing company.
Due to the changing demands and needs of the healthcare industry, your hospital or clinic needs to look for ways to maximize revenue and slash overhead. Outsourcing revenue cycle and billing activities to a professional billing provider is one of the best strategies.
You have several options for cloud-based medical billing and practice management software. This is why you should do your research on each software program to make sure that you choose the one that best fits all your needs.