Practice management billing software like NextGen Practice Management (NextGen PM) helps keep your practice scheduling and revenue cycle organized and efficient. Here are 10 reasons your practice needs practice management billing software.
1. Practice Management Billing Software Handles Your Administrative and Financial Needs
With practice management software, you can manage your administrative and financial tasks all in one place. And NextGen PM can be fully integrated with your NextGen EHR. With an integrated system, you do not need to copy the information across systems, reducing the potential for errors. You can also create dashboards and reports that span the full patient visit life cycle, from scheduling to reimbursement, to help you identify bottlenecks.
2. Get Coding Right the First Time
Coding errors and missing procedure and diagnosis codes cost your practice time and money. With practice management software, you can ensure full coding for each visit. Your EHR and PM system can remind providers to provide documentation, suggest codes commonly billed together, and flag potential coding errors. You can also track claims denials, adjustments, and E&M coding patterns by the provider using custom dashboards and reports from third-party developers like TempDev. These tools can help you provide support to providers facing medical coding challenges.
3. Practice Management Billing Software Helps You Keep Track of Your Revenue Cycle
To keep your practice financially healthy, you need to closely monitor your revenue cycle. Custom tools like TempDev’s Revenue Cycle Dashboard NextGen EPM Report can help you identify and address problems at every stage of your revenue cycle. Practice management software can help you track missed appointments, copay collection, accounts receivable, and denied claims. At each stage of your revenue cycle, you can drill down to identify patients, locations, providers, or payers for more insight.
4. File Claims Quickly
Software like NextGen PM helps you get the right codes and documentation during each visit. Because it is integrated with your EHR, you can bill seamlessly without time-consuming follow-ups with providers. You can also build custom claim edits in the software to automatically flag an inaccurate claim before it goes out to the payer to get denied. This kind of software can increase your claim filing speed without sacrificing accuracy.
5. Get Faster Reimbursement
When you simplify your coding and billing processes, you get paid faster. Practice management software can reduce your accounts receivable timeframe and free up resources to help you focus on your mission — treating patients. A smooth, timely billing and reimbursement process also improves your financial stability. With the proper tools in place, you will not need to spend time and money hunting for outstanding accounts receivable or inappropriately denied claims. Your new software will help you identify and correct problems before they cost your practice money.
6. Reduce Billing Errors
Billing errors are costly and time-consuming. Whether your claims are denied for missing information, non-covered services or charges, or unmet deductibles, practice management billing software can catch errors before they result in denials. This software can flag issues at several points in the patient office visit process. At scheduling and check-in, practice management billing software can flag needed insurance updates and cost-sharing requirements. During office visits, it can flag data entry errors, missing documentation, and non-covered services. During billing, your system can identify claims that may be denied to help you reconcile problems before submitting claims to payers.
7. Unapplied Money and Credit Balances
Unapplied money and NextGen credit balances can make it difficult to balance your books. Software like NextGen PM helps you identify and patient credit balances at the point of care, avoiding time-consuming patient refunds later. Using tools like TempDev’s CreditFlow, you can also identify and reconcile credit balances owed to patients and refund them.
8. Streamline Workflows
When integrated with your EHR, practice management billing software is a one-stop-shop for all of your practice’s needs. You can create appointments, collect patient information and copays, document office visits, code, and bill all in one place. This helps streamline your appointment scheduling and office visit workflows by reducing data entry and eliminating paper forms. You can also customize your software to the needs of your practice. This helps you meet the needs of your patients and providers without sacrificing efficiency.
9. Improve Efficiency
Using high-quality practice management billing software will reduce the time your staff spends on administrative and financial tasks. It will also help you get paid more accurately and faster. Taken together, these benefits can mean huge efficiency gains for your practice. An integrated EHR and PM system can replace costly legacy systems, reduce error-prone data entry, and help your office go completely paperless.
10. Improve Patient Care
Tools like NextGen PM can improve patient satisfaction and help you deliver higher-quality care. Tools like NextGen’s Patient Portal let patients schedule their own appointments and email their providers between visits. This reduces the number of calls your front desk staff receives while keeping patients engaged in their care. Integrated software can also help you track and improve quality measures like receipt of preventive care. Higher-quality care means happier patients and more quality bonuses, creating a virtuous cycle of practice improvement.
How TempDev Can Help
TempDev’s consultants and developers specialize in NextGen EHR and PM software. TempDev can help you implement and customize NextGen PM so you can get more out of your NextGen system.
Call us at 888.TEMP.DEV or contact us here to get started improving your use of NextGen PM.