3 Must-Have Features For Your Behavioral Health Billing Services
Behavioral Health Billing Services and the 3 Essential Features
Getting the most out of your behavioral health billing services means so much more than getting paid on time.
When looking for behavioral health billing services, there are many features that you will need to consider—features that enable you to take advantage of the latest technology and meet your day-to-day needs. In this blog, we will expand on these features so that you can get the most out of your behavioral health billing services platform.
What are behavioral health billing services?
First things first! What are behavioral health billing services? And does your facility need them? Behavioral health billing services are the services provided to customers to aid in the following tasks:
Creating and submitting “clean” claims to insurance carriers
Collecting on prior claims in a timely manor
Provide credentialing services registering providers with insurance carriers
Sending and collecting statements for patient responsibility
Organizations that need this kind of software include addiction treatment organizations, eating disorder treatment facilities, and behavioral healthcare organizations.
Sound like your facility? Keep reading!
The three behavioral health billing services features you need to succeed:
While your ideal behavioral health billing services platform will be robust and complex, we can categorize the features into three main sections. These are:
Utilizes revenue cycle management
Generates real-time results
Is efficient and easy to use
Behavioral health billing services and revenue cycle management:
Why is it important that your behavioral health billing services work with your revenue cycle management system? For starters, it reduces the risk for human error and makes the whole process go much more smoothly.
With behavioral health billing services incorporated with your revenue cycle management tools, you can implement automated workflows and other proactive controls to ensure documentation compliance and accurate coding, as well as meet the nuanced delivery requirements for each respective funding source. Additionally, this allows an end-user to apply the correct funding source and allow the system to systematically implement checks and balances. It can also ensure your revenue cycle management process itself is compliant, effective and efficient. In this way, this relationship between your behavioral health billing services program serves as the binding force for you complete revenue cycle management process. Using software that has both billing services and revenue cycle management is one of the best things you can do for your facility because it allows you to:
Effectively and efficiently manage a complete continuum of care
Electronically maintain and track third party financial agreements including address, contact information, contracted rates and co-pays for treatment services
Maintain funding source information (including self-pay and insurance information, rates, required claim form type, and benefits information) for efficient billing and financial activities
Manage payer authorizations and utilize billing rules to streamline claim generation and validation
When your behavioral health billing services software works with your revenue cycle management, you also have access to a wide variety of revenue cycle management reports. This means reports for monthly financials, payer mixes, and daily censuses are just a click away.
Your behavioral health billing services facility needs to be as responsive as you are. That’s why the ability to generate real-time results is essential. Real-time results generation enables you to electronically track the claim life cycle with up-to-date claim status features. It also can help you obtain a real-time comparative analysis of year over year performance with the click of a mouse. Real-time results enable you to execute a multitude of tasks that are beneficial for your facility and your patients, including:
Obtaining immediate electronic eligibility confirmation: verify insurance coverage, deductible, and benefit information for your patients
Finding out real-time claim status updates
Ideally, your billing services will connect with your patient portal so you and your patients can see—in real-time and at-a-glance—important pieces of information such as upcoming appointments and billing statement history. It should also allow for easy online bill pay and hassle-free access to someone who can assist your patients with questions about their bill.
Efficiency is key:
All of the above features are all very well and good, but if they don’t run efficiently and smoothly, they won’t be of any practical use to your facility. Look for behavioral health billing services that won’t cost you extra time, money, or headaches. The best behavioral health billing services software will have the ability to support organizations from a small practice to multi-company, multi-site and multi-specialty configurations. These enterprise solutions will also be able to execute tasks including completing clearinghouse integration with claim status tracking and electronic remittance processing. An efficient platform will also:
Intuitively execute waterfall billing and other specialized billing functions
Leverage a complete record of all payments received including source, payee, invoice, balance, write-off amount and designated GL Accounts
Utilize built-in dashboards, analytics and system reports to better track and control your financial operations and service delivery
Identify operational and financial trends and respond proactively
Implement and manage organizationally defined Key Performance Indicators
An efficient behavioral health billing services tool is one that improves both your facility’s day-to-day function and its long-term ability to run at peak performance. Make sure yours has features such as electronic remittance processing and automated and customizable claim adjustments. Automation will help your facility in numerous ways, among them the ability to automatically generate:
Custom patient financial agreement forms
Daily charges based on your active patient census
Charges for lab results and dispensed medications and prescriptions
A variety of A/R reports
Collections and dunning letters
Payer or responsible party contact information
What do these features add up to?
Sigmund’s AURA is an enterprise software that integrates the best features of an efficient and real-time behavioral health billing services platform with revenue cycle management and everything else your faculty deserves in an electronic health record. Lean how AURA can meet your behavioral health and addiction treatment billing software needs. Schedule a demo today.