Aid Your Finances At Times Of Need With Pain Practice Management Software

 The CDC's rules have switched from limiting the virus's immediate spread to managing operations during the epidemic. “Reduce the demand for in-person care,” according to one of the most recent recommendations. So, for many practises, the question remains: how do we continue to care for our patients, staff, and ourselves while still repaying our SBA loans and meeting our long- and short-term financial objectives? The answer could be found in how practises use pain practice management software and other strategies, such as those listed below, to make the most of the hand they've been dealt.

With Revenue Cycle Analytics, you can set and track your KPIs.

As you begin to take inventory, revenue cycle analytics, ideally the kind that uses structured data and configurable A/R reporting, can be an important tool. While there are numerous KPIs to track, here are a few you should keep a watch on throughout the pandemic:

•        Accounts Receivable Aging

•        Payer and Provider Accounts Receivable

•        Telemedicine Reimbursements

Providers should also choose telehealth E/M levels based on medical decision-making (MDM) or time (defined as the total associated with the E/M on the day of the contact). These E/M rules for telehealth are identical to those that will be in effect in 2021 for other types of medical care.

Make Your Patient Registration Process More Efficient

Doing what you can ahead of time will help your practice management system avoid claim denials and payment delays. That involves double-checking insurance information and rectifying mistakes ahead of time—and, if possible, automating aspects of the process.

Play Offense Against Health-Care Payers

Being proactive when dealing with payers, particularly commercial payers, is the best way to go. To file claims on time and get reimbursed as soon as possible, familiarise yourself with their criteria, fee schedules, processes, and deadlines. Here are a few pointers to help you stay on track with your practise:

·         Those Claims Must Be Scrubbed!

·         Finalize Notes is a great place to start.

·         Examine Your Payer Agreements

Above all, know your contracts and take advantage of any opportunity to bargain. The first step in obtaining better payment rates for your physicians is to request them.

Keep track of the status of your medical claims.

There are several steps to submitting a claim. As an example of a conceivable scenario, the first step is to estimate patient co-pays and balances using your eprescription practice management system so that your team might potentially collect from patients upfront.

Make it easy for patients to pay their bills.

Patients may find it easier to pay medical costs if they have payment plans and several payment alternatives. These innovations transform a tiresome process involving stamp purchases and even a trip to the post office into a short internet visit or SMS.

Enlist the Help of a Medical Billing Service

You have access to tools and specialists who can assist you with many parts of your revenue cycle, from billing to patient collections to account reconciliation, using Pain Management EHR.

Have you run out of time to concentrate on your revenue cycle or are you looking for extra pain practice management solutions? We're here to assist you.