In the healthcare field, the focus is meant to be on the patient. However, the focus can be drawn away from the patient by billing snafus, denied claims and cybersecurity breaches. With the technological advancements made over the past decade or so, many mental healthcare facilities are choosing to file their claims and do their mental health billing using electronic software. It is meant to make the lives of patients and healthcare providers easier, in ways such as:
Spending less money on claims: The AMA estimates that the average cost of processing a claim sent manually is $6.63. With updated billing software, providers are able to send claims electronically, which costs only $2.90. This adds up over time, allowing more money to be spent on more important things.
Spending more time with patients: Accidents happen. But the margin of error when humans are processing data is much larger than when it’s done electronically. When the frequency of accidents is lower, providers are able to spend more time and energy working with their patients, rather than hassling with insurance companies over claims. E-claims are HIPPA-compatible and have a turnaround rate of 70% within 7 days. Paper claims have a turnaround rate of roughly 30% within 7 days.
Increased options for patients: As we all know, mental healthcare can be expensive. The truth is that most people can’t afford to pay hundreds of dollars out-of-pocket all at once. Around 90% of providers offer payment plans to their patients. Mental health billing software allows patients the freedom to choose the size and frequency of their payments.
When it comes to mental health, there is no time to waste on denied claims and human error. Allowing customers and providers the security and efficiency of electronic billing software service is what makes it a popular billing solution among mental healthcare facilities. It’s important for providers to educate themselves on types of software, keeping in mind that it will save time, money and headaches.