How to Increase Your Revenue With Ophthalmology Billing Software
Accurate and efficient billing is essential to the success of any ophthalmology practice. But to achieve the highest revenue levels possible, your office needs the right solution for the job: ophthalmology billing software.
With great ophthalmology billing software, practices can increase revenue by streamlining their administrative and billing processes and automating many time-consuming tasks, such as filing claims and collecting payments.
By implementing an effective ophthalmology billing system, ophthalmology practices like yours will focus on more revenue-generating tasks like patient care, reduce costs, and increase productivity and profitability. Here’s how:
The Top 5 Reasons Your Practice Needs Ophthalmology Billing Software
1. Faster Billing
Ophthalmology billing software can provide multiple benefits for your practice, including faster billing processes that generate higher and more consistent income rates.
For example, ophthalmology billing solutions come packed with vital tools, like split billing, which allows billers to create multiple bills in a single click, and integrated credit card readers that can take payment instantly.
Likewise, electronic patient statements bring additional efficiency to your billing process by letting you deliver statements directly to a patient’s inbox instead of sending them by mail. This shortens the gap between bills and payments and increases efficiency across your billing team.
2. More Accurate Billing
Despite being crucial to your business’s financial health, generic billing systems often produce inaccuracies, forcing billers to waste countless hours fixing simple mistakes.
While each billing error may seem insignificant alone, small mistakes compound over time, creating enormous opportunity costs. A great ophthalmology billing solution helps prevent that from happening with checks and safeguards that keep your coding accurate.
Your ophthalmology billing solution should sync with your EHR system to streamline patient data collection. With a foundation of accurate patient info and the ability to share data across medical and billing modules, your billing team is more likely to get your medical bill coding right the first time. This leads to higher coding accuracy, less time fixing errors, and more energy available to focus on the critical aspects of your business.
3. A/R Management
Your practice can send bills all day, but collecting is another issue. Without proper management, it’s easy for medical billing teams to become swamped with A/Rs and struggle to generate cash flow.
Managing your accounts receivable with ophthalmology billing software is a great way to track payment collections and convert outstanding charges into cash. Look for ophthalmology billing software that can follow up on and correct claims from a single screen.
4. Integrated Clearinghouse
Even though you’ve provided high-quality ophthalmic care to your patient, there’s still one remaining obstacle between you and your revenue: the insurance company. Insurance claim denials and rejections are notorious for holding up revenue, making your submissions a major bottleneck in your billing cycle.
The best way to streamline this process is with an integrated clearinghouse solution. Ophthalmology billing software with this feature can automate follow-ups on denials and rejected claims, and help streamline your communication, coding, and reimbursement processes with electronic submissions.
Once you’ve sped up your payment turnaround, you’ll likely see an immediate impact on revenue.
5. Expanded Payment Options
The more patients your practice attracts and keeps, the more revenue you’ll generate. But to stay successful, you’ll need to offer superior services that deliver the experience clients expect—including financial services.
Ophthalmology billing systems can increase patient satisfaction and retention over time with convenient payment systems that make payments easier and more accessible.
Integrated payment options through an online portal and patient app are essential to an excellent patient payment experience. These allow patients to review their statements and make payments remotely at their convenience. The more convenient it is to pay, the more likely they will!
Get Premier Ophthalmology Billing Software Here
OphthalmologyEHR offers a custom-built ophthalmology billing solution designed specifically for ophthalmology billing workflows. Whether you’re a small or large ophthalmology practice, OphthalmologyEHR’s specialized solutions crush inefficiencies and increase revenue.
Best of all, OphthalmologyEHR offers seamless integration with your EHR and includes profit and productivity-boosting features for your entire team. Schedule a demo and discover how OphthalmologyEHR can transform your practice’s bottom line today.
Streamline patient records, optimize practice performance, digitally plan and share surgery sheets, communicate with prospective patients, manage lens inventory, and coordinate quality care across your office with OphthalmologyEHR.