Mental health practices are being increasingly utilized as the awareness and importance of mental health increases in today’s society.
For many mental health practices, managing the increasing costs of operations as well as maintaining a healthy billing cycle can seem overwhelming. Many mental health providers handle billing completely on their own, without any help. For this reason, it is critical that mental health providers utilize quality billing software. Billing software for mental health providers has the ability to streamline the billing process for mental health practices. Quality billing software helps providers improve their documentation, file clean-claims on time, track claims, efficiently check for prior authorization and improve revenue. A vendor of billing software for mental health should help improve these areas of your practice.
Effects of Quality Billing Software for Mental Health
By utilizing billing software for mental health or an EHR/EMR that’s specialty specific, providers can document more efficiently without sacrificing quality. A one-size-fits-all software does not always provide the best clinical and financial workflows. Specialty-specific software ensures that mental health providers do not have to waste time sorting through irrelevant information. Fit with your specialty-specific codes and documenting tools, providers can document in a way that works for them. By increasing the accuracy and efficiency of their documentation, providers are able to submit claims more quickly and receive payments on time.
2) File Claims on Time
Not every payer allows for billing at the same time of the month. It is easy for a provider to lose track of which payers allow for mid-month versus end-of-month billing. This can cause them to fall behind and lose out on necessary payments. With a quality billing software for mental health practices, providers have the tools to track and differentiate between these payers. This can maximize their claims process and allow for quick payments.
While not every insurance provider requires prior-authorization for visits, many do. This is especially true for patients who are coming in multiple times a month or a week, or even need a more-involved treatment plan. Quality billing software for mental health helps providers keep track of prior-authorizations so they can optimize their payments while protecting their patients.
4) Claims Tracking
Utilizing billing software helps a provider maintain a higher clean claims rate. However, if a claim is denied, there is a short window to correct the claim and resubmit it. Billing software helps the provider track the status of their claim to make sure they resubmit denied claims on time. This also helps mental health providers to find a solution for patients who were denied due to a change in coverage. Code scrubbing edits and a built-in clearinghouse can help you proactively correct errors so you can reduce rejected claims and claims re-work.
5) Insurance Verification
Sometimes a patient’s change in coverage needs to be updated before a visit is completed. Billing software helps to maintain updated patient billing information with insurance and eligibility verification before every visit. This protects your payment and secures the patient’s visit.
Billing software for mental health providers offers specialty-specific coding and a way to efficiently document, track claims, ensure coverage, and protect your practice with sound billing practices. It’s important to find a seamlessly integrated solution for your practice management and billing needs as a mental health practice provider.