Medical Billing Solutions Development for Faster Turnaround of Payments

Automated appointment scheduling and tracking is one of the essential features of comprehensive and efficient patient billing software. Manual appointment scheduling is time-consuming and a process of hassle. A patient scheduling solution integrated with medical billing solutions can save your time and take the hassle out of the task by automatically scheduling and tracking the patient appointments. OSP can make appointment scheduling a part of medical billing solutions, patient pre-registration is made simple.  

We can build medical billing software systems as a healthcare cloud solution based on your requirements. Scheduling patients without verifying insurance eligibility can be hazardous to a clinic’s cash flow. Also, calling insurance companies to check a patient’s insurance eligibility is a resourceful task. We can build tailored cloud-based medical billing software with appointment scheduling feature that can help automate insurance eligibility verification while setting up the encounter forms for procedure and diagnosis. You can also add scheduling rules based on physicians’ availability to make your medical billing management more efficient. 

Medical billing and coding are a standard method through which standard ICD 10 codes are established to categorize patient information records and dictate medical billing towards the insurance companies. According to the CMS (Center for Medicare and Medicaid Services), medical coding errors have caused around $16.73 billion in improper payments in FY2019. Medical coding, if done manually, is a highly complex process and requires a workforce. Still, medical coding errors can break the cash flow and revenue management of a clinical facility or hospital.  

OSP has experience building medical coding automation solutions that can add pre-defined ICD 10 codes to appropriate treatment procedures removing the chance for error and further denial of a claim. We can build tailored medical billing solutions that can help avoid billing inaccuracies and costly mistakes. These medical billing systems can identify and validate the right CPT codes and bring 100% accuracy in your claims for better case management. 

Integrating EHR to the medical billing systems solves multiple challenges the providers face while maintaining their medical billing services’ optimum quality. Integrating the healthcare billing solutions with EHR reduces the risk of human error, leading to non-uniform data. Instead of being complicated and time-consuming, such patient billing can navigate and exchange data from your EHR system and vice versa. These billing systems can become interoperable and remain under one management system. 

Medical claims management can be simplified with robust integrations to HIPAA compliant medical billing systems. EHR integration not only brings all the processes to a single platform but also helps to maintain the much-needed transparency in medical billing service. The medical billing solutions with EHR integration can eliminate the lost superbills and electronically generate superbills and then bill the insurance carriers. With an integrated EHR, healthcare providers are no longer required to devote their time and effort to fill out forms and process medical claims. The reduced billing workload gives the healthcare staff more time to focus on providing quality patient care. 

Revenue optimization is the crucial goal of the RCM system. We build customized medical billing solutions that strive to maximize your clinical facility and hospital’s revenue optimization. Automated charge capture, timely payment posting, revolving credit balances in AR, seamless AR management, avoiding payment duplications, online statements, and payment plans can be incorporated while customizing medical coding solutions.  

Medical billing companies determine what patients owe and what expenses the insurance companies cover. They process billing and send invoices to patients and insurance agencies, Medicare, and Medicaid to ensure they pay their respective expenses. The healthcare payment systems can be streamlined for revenue optimization and collection of payments through multiple digital payment modes, even e-Wallets. We can tailor medical billing solutions with a wide variety of functionalities like patient statements, bill generation, bill recording, billing rules engine, denial management, electronic superbill, payment reminders, and batch payments. 

Medical claims management is the central process in a medical billing system. Healthcare claims management requires medical billing and coding, filing, updating, and processing medical claims. These medical claims are related to patient diagnosis, medical treatments, and medications. Maintaining patients’ medical records, interacting with health insurance companies, and issuing invoices for the rendered medical treatment is time-consuming and complicated.  

OSP can engineer medical billing and coding solutions that can simplify electronic claims processing and paperless claims collections. We understand the tour needs in detail and build medical billing solutions to streamline the medical billing process and prevent communications from being lost in the mail. We can build comprehensive medical billing management for you by adding insurance payment listing, electronic claims processing, claims scrubbing, claims tracking, managing claims history, claims reconciliations, and electronic remittance advice and alerts. 

AR follow up is an essential feature in the medical billing platform. Accounts receivable directly impact the financial health of the practice and including this in the hospital billing system software can efficiently optimize the revenue cycle. OSP can develop software for medical billing with AR follow up feature to maintain a stable cash flow. We can monitor payment timelines, identify delays and discrepancies.  

Our custom medical billing solutions with AR follow up can also prevent revenue leakage by identifying and resolving billing errors, claim denials and underpayments. These functions help in maximizing revenue collection and financial stability. Our software will generate notifications and bills at appropriate intervals, such as 30, 60 and 90 days past due for patients. 

Reporting and analytics feature in medical billing solutions will give a comprehensive view of a hospital’s financial health. OSP’s custom medical billing solutions incorporate reporting and analytics features tailored to hospital medical billing software. With our solution, healthcare providers can monitor their financial performance through dynamic dashboards, offering insights into A/R trends, CPT reporting, reimbursements analysis, and referring providers.  

Our custom medical billing solutions enable benchmarking against industry standards, identifying revenue opportunities. OSP’s custom medical billing software ensures data visualization with cross-browser capabilities, facilitating a deeper understanding of financial aspects. Users can build and customize reports, applying filters by provider, carrier, location, and date range. OSP supports seamless integration with EMR/EHR for accurate and timely reporting, fostering data-driven decision-making.