Do your patients wait to receive their outstanding bills for days, weeks or even months? Is this practice of sending delayed bills to your patients interrupting your organization’s revenue cycle? If yes, then this problem is harming you in ways more than what meets the eye! And, if you are trying to improve the practice, apart from gaps in your management, it is essential to check your medical billing systems.
There are different types of medical billing systems for healthcare organization setups. Often, administrators working in these healthcare organizations overlook this aspect of change and fail to include a considerable amount of revenue. Therefore, to help you understand and implement the changes, we’ve enlisted three medical billing systems in this blog. Read along-
- Closed Medical Billing System:
A closed medical billing system uses digital tools to track patients’ health records with specific tweaks. Here, in this system, billing charts and associated health records travel within the boundaries of a clinician. Most experts even acknowledge EMR as the electronic version of the good old medical paper charts.
The digital tool preferred for treatment charts is known as EMR, short for Electronic Medical Record. It contains all the information of patients of a particular provider, such as diagnosis and treatment plans.
You may also connect the EMRs inside the practice with each other for better support. However, they cannot be used outside the practice boundaries as they are only for the physician and billings teams.
Who Can Use Closed Medical Billing systems?
These close medical billing systems can be used by stand-alone practices with few physicians. However, if you wish to outsource your medical billing services to any third party vendor, the open billing system must be used.
- Open Medical Billing Systems
An open medical billing system constitutes a more collaborative structure than a closed one. Here, in an open system, the health records of the patients are not limited to the boundaries of a single practice.
In this setup, the major stakeholders, such as providers, patients, billing teams, healthcare organizations and third-party vendors can access the data.
The tool preferred for health data is EHR, i.e. Electronic Health Records. It is considered a better comprehensive information chart than EMR as it can be accessed and edited by several professionals, and data is transmitted to different sectors of the system.
As per several experienced professionals, an EHR provides a better health outcome for patients- as it focuses on a larger picture and intricate details.
Who Can Use the Open Medical Billing System?
As Large healthcare organizations have multiple departments, they can take advantage of the open medical billing system due to its flexibility. And, if they are planning to outsource medical billing services to any third party vendor, using an open billing system will be beneficial.
- Isolated Medical Billing System
Although Isolated medical billing systems don’t participate traditionally in the billing structure, they benefit healthcare providers. They use a digital tool, PHR i.e. Personal Health Records, which enables the patients to maintain these systems solely, without any organization or provider.
In the isolated systems, the patients enter their healthcare data in the records, maintain them, and refer to them as per requirements. They can even use software tools to maintain their Personal health records.
Who Can Use the Isolated Medical Billing System?
The isolated systems are only for patients to use. However, only EMR and EHR are legally accepted, and PHRs cannot replace them at any point in time.
Now that you’ve understood the three medical billing systems available, why wait anymore? Outsource your revenue cycle management and make more savings & efficiencies with Tall RCM. We provide the best RCM healthcare services in the USA. Connect with us to get an efficient billing system for your organization.