Medical Billing for Small Practices

As a smaller to mid-sized practice, you may not have to deal with the challenges that are associated with large patient volumes - but challenges still abound, nonetheless. It may feel tempting to assume that a paper trail may suffice for smaller or ad hoc tasks, but make no mistake, as even paper-based systems can gradually accumulate into an insurmountable task of finding and organizing key information.

Your small-size clinic may not need all the bells and whistles that come with full-scale enterprise medical billing or medical practice management solutions, so here are some core capabilities to look out for when it comes to medical billing software for small practices:

• Accurate medical coding: If medical and diagnostic codes encounter inaccuracies, it may affect your claims process. This is a no-no for small medical clinics and practices, as even one claim denial or issue could impact bottom lines.
• A cadence in claims processing: It may seem unnecessary to adopt medical billing automation owing to a limited patient base, but smaller clinics are still susceptible to the same risks as that of larger healthcare facilities, when it comes to delayed or incorrect claim procedures. Therefore, adopting a solution that can enable your teams to verify eligibility, file, and coordinate claims can be a worthwhile investment.
• Some revenue cycle management capabilities (if not all): Although RCM capabilities focus on the financial goals that go beyond accounting and claims departments in larger healthcare organizations, some capabilities, such as insights on why certain claims were denied, can still be highly resourceful for small practices too.

When evaluating medical billing software vendors, consider whether your practice can customize your platform by signing up for specific features and modules - so you only pay for what you need. Alternatively, plans can be purchased per user or per provider, with monthly fees increasing only if volumes are increased - a great option for small clinics and practices that currently have minimal needs, but may need to scale in the future.