Know your options for medical bill payment solutions

Know your options for medical bill payment solutions
A company searching for medical bill payment solutions need to consider all its options – and all the potential ways in which that billing information will be received. Limiting processes to either paper-based or electronic-based inbound bills won’t be enough these days: An end-to-end solution is what’s needed.

An end-to-end bill paying solution offers the most comprehensive, most efficient way for an organization to reduce administrative costs and reimbursement turnaround times. Here are just a few of the benefits of outsourcing to achieve such a solution:

  • Expedited bill processing, allowing for greater profitability
  • Secure online access for exception management
  • HIPAA compliance and protection
  • Audit trails for real-time reviews and process transparency
  • Leading-edge technology and tools

An integrated paper-to-electronic and electronic bill solution should include these elements:

Paper-to-electronic conversion: Medical bills and other healthcare documents come in a variety of forms, including CMS-1500, UB92, C4-FNOL, NF-3, pharmacy bills, prescription receipts, explanation of reimbursement statements, medical records, dental X-rays and other paperwork. A provider of conversion services should be able to incorporate edits into its processes specific to a company’s bill systems, customizing their solutions to meet an organizations specific challenges and needs.

Electronic bill intake: The intake and processing of electronic bills and other healthcare documents requires a provider to have an extensive real-time health information network, with a reach that extends to a significant number of active providers, hospitals, vendor partners, health plans and insurance carriers. The provider an organization selects needs this reach to make it easy for providers to send and receive information with any workers compensation, property & casualty or commercial payer they need to connect with.

End-to-end bill medical bill submission is an expensive and complex process, but a qualified provider can eliminate the risk, reduce the cost and increase the efficiency, whether the information is received as paper documents, as electronic data or, as is most common these days, as a combination of both.

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