Home Health Billing Software
When it comes to home health billing software it can be hard to navigate the right software for you. Not only because there are so many different software and outsourcing options to choose from, but because the home health industry is complex. From filing claims to coding, you need a software solution that will empower your team. Not hold you back.
The right software can help you improve your administrative processes as well as provide a better customer experience. Not to mention, it could help you increase their revenue cycle and help your financial planning efforts. The key to finding the right home health billing software is knowing what you need and what features you can expect from that software. Below is a guide to the general information, features, benefits, and pricing you can expect when shopping for home health billing software.
What is Home Health Billing Software & How Does it Help You?
Home health billing software is a software application that allows you to conduct all your billing services in one central area. This type of software is meant to handle the complex coding and claims process associated with home health. the software application helps you complete a wide range of duties on a much faster timescale with much more precision. It makes it much easier to also interact with health services such as Medicare, Medicaid, Medicare Advantage, VE, private insurance, and other forms of payment.
Simply put, home health building software helps your administrative staff process claims faster and with ease. The software can also help you spot mistakes and prevent denials from happening. Without such software to help practices, they may experience:
- Losses in revenue
- Improperly filed claims
- Duplication of documents
- Little to no claims tracking
- A worse customer experiences
- Confusion about how your business is struggling
- Denied claims
- And more!
Using the right software can help prevent these problems and improve your service.
Features of Home Health Billing Software
Edit Claims with Ease
Home health billing software makes it easy to register patient and treatment information right in the software. With the use of templates, drop-down menus, and automation, it is much easier for your staff to file multiple claims in a day.
What good is filing a claim though if you are going to make mistakes? This only results in denials.
Medical billing software allows you to spot mistakes and common errors before you file a claim. This small, but necessary action can save you time and money. Software is always improving, which means over time there will be new features and ways to automate your filling procedures within the software.
Wouldn’t you like to know how fast your claims are being processed by an insurance company? With home health billing software, you can do just that. Once you file the claim, most software will allow you to track the status of the claim because you sent it electronically. You can track this data WITHOUT having to contact the insurance company. The software can track how far along your claim is by tracking items such as:
- ERA received
- In process at clearinghouse
- In process at the payer
- Payer acknowledged
- Coordination of benefits
- ERA denied
- Missing information
- Not submitted
- And more depending on the software!
Ready to get rid of filling cabinets and provide better access to your staff and your patients? Most home health billing software uses cloud storage which stores documents on a remote server and can be accessed with the right login information. Not only does this cut down on your physical paper and printing, but it makes accessing documents much easier.
Staff will just need their own login information and they can access documents even while working remotely. Cloud storage also makes it easier to send documents to insurance providers and patients electronically. Patients can be sent documents through email or be given their own login to view their financial information through a patient portal (not always included). Cloud-based storage makes it easy to store patient information and receive sign-off on patient documents with the use of features like e-signature, online payments, and scheduling tools.
Pricing is based on average from averages on Software Advice and competitors around the internet.
Financial Reporting & Tools
One of the main reasons that home health practices invest in medical billing software is because of the financial reporting tools. With home health billing software, you’ll be able to track information such as:
- Income analysis including last month, month-to-month, quarter-to-quarter, quarter-to-date, year-to-date, year-end review, and more!
- Accounts receivable
- KPIs such as payment speed
- Fee Schedule
- Remittance reports
- Patient balance sheets
- Sale tax
- Patient payments
- And more!
While each home billing software will have its own quirks and measurables, you can expect a lot of these features from most billing services. These tools are designed to help you simplify your medical billing as well as give you better data on your financial well-being.
Why Use Home Health Billing Software?
Even small home health practices can make use of medical billing software. Home health billing software tackles multiple problems at once and helps both customers and your administrative staff.
With the use of software, claims are much easier to process and track. Your administrative staff no longer has to call insurance providers multiple times a day for status updates on claims. The software can track this for you. Software applications can also allow you to set up custom templates, fees, and processing methods to enhance your practice methods. These systems empower your employees to process claims faster and streamline your revenue cycle management.
Home health billing software makes it easier to process and track claims resulting in better revenue cycle management. You can identify how fast you are processing claims and where bottlenecks may be occurring. Importantly, medical billing software gives you the opportunity to identify how to better improve your services and administrative process as well.
The software application can help you file claims quicker and correctly. With the use of templates, coding help, drop-down menus for easy access, and many more tools, you can automate parts of the medical billing process. Automatically catch errors, reduce stress for your administrative staff, and produce better results with home health billing software.
Home health billing software can notify you of new changes to your specific type of medical billing. You can be some of the first people to be notified of changes to your work. This will not only help you prepare but make sure you don’t lose out on revenue.
Most home health billing software is cloud-based and offers mobile or tablet applications so you can do your billing even when on the go. This is perfect for remote workers and staying on top of your practice even when you are away. You don’t have to wonder how your practice is doing, you can know no matter where you are in the world.
These mobile applications also make it easy to stay in communication with your staff and patients. Many of the software choices out there come with chat features so you can stay in touch with your most critical staff.
Looking for Home Health Billing Software for Your Practice?
At 360Connect we can help! We help buyers every day find medical billing services that fit their needs. All you need to do is fill out our 1–2-minute form and then we will call you to confirm your information. From there, you can sit back and relax as up to 5 different suppliers send you quotes 100% free! It’s that easy!