Medical records and healthcare cost records are two sides of the same coin. However, there exists very different software for managing both. EHR, or Electronic Health Records software, manages all the data and medical records of each patient from every encounter and appointment. On the other hand, RCM healthcare services administer the complete cycle of billable charges for each patient from the initial consultation and appointment with any medical professional to the final payment collection.
When you operate a health clinic in Orlando, you already use the EHR software to track patients and their health issues and concerns, but you still need RCM healthcare services software to track your billing and payments. Some of the tools involved with RCM software are as follows.
Entering Charges With Proper Coding
To bill insurance providers, you have to enter the correct charges and billing codes. This software has everything your billing department needs to select a service provided with the correct accompanying code and enter it into an invoice for the insurance company. That invoice is sent to one of the hundreds of insurance company addresses built into the software, which can either be done electronically in batches and encrypted or sent via snail mail.
Submitting Patient Portion Invoices
When you enter a patient’s information into the RCM software, you create an account that will allow you to send an invoice/bill to the patient for the patient portion of services rendered. This occurs after the insurance company has already sent payment for what they cover.
