Integrate Your EHR With The RCM System
Electronic health records (EHR) are now the standard for independent physician offices, even though they are not adopted by all private practices. Over the past 18 years, adoption has increased; in 2017, 86% of office-based doctors reported using an EHR.
EHRs are essential for managing patient care because they streamline and arrange records and communication to guarantee consistent, high-quality care. But it’s also crucial for doctors to think about how their EHR and health care revenue cycle management are related (RCM).
Strong integration between your EHR and RCM is crucial to managing a successful practice since healthcare RCM intersects with many areas of the patient care continuum. Enhancing these systems’ efficiency and income capacity can free up more funds for your team to use in patient care.
What Does Integrating Your EHR And RCM Mean?
A seamless, simplified communication channel exists between the two software platforms thanks to an EHR and RCM connection. In other words, you have a unified practice management system for medical billing and patient records.
Important data from the EHR (such as patient demographics and appointment details) immediately flows into your RCM platform when your EHR and RCM systems are integrated. The RCM can efficiently produce claims for payers because of this information exchange. When EHR and RCM are linked, both systems will no longer function as isolated islands but rather will have a clear data and information flow between them. The revenue cycle management process makes use of several essential data elements that are included in EHR. Without having to manually copy or email files, these data points can then be exchanged between platforms.
Can EHR Be Linked With Existing Billing And Revenue Cycle System Services?
Yes. EHR systems can easily be integrated with existing revenue cycle billing systems. However, to finish the HL7 interface construction procedure, you will require extensive technical knowledge. These interfaces will be in charge of ensuring that data like patient demographics and charges move freely between the systems. EHR systems with built-in clinic management software are another option, allowing you to use it right immediately.
Benefits Of EHR System Integration With An RCM Platform
You must be frugal with your time and resources as a private practice. Why then would you link your EHR system with RCM software rather than invest in two distinct platforms?
Reducing administrative load and waste, two significant issues in today’s healthcare is one of the main advantages. According to a 2020 study that was published in JAMA, the sector wastes an estimated $266 billion in administrative costs annually.
However, you may increase productivity throughout your revenue cycle management in medical billing with an integrated EHR and RCM. A seamless interconnection enables:
To ensure accuracy when determining insurance coverage and submitting claims, obtain accurate patient and appointment data.
- Automate editing and filing of claims
- Patient billing and payment posting automation
- Visualize claim status, rejections, and denials.
- Give full disclosure about the billing procedure.
- Boost communication between payers and providers
- It’s also crucial to keep in mind that purchasing a specialized RCM platform entails spending money on a technology that only has one purpose: ensuring that you receive reimbursement.
- All-in-one systems frequently lack the funding necessary to develop world-class tools for all facets of practice management.
- The greatest option for managing patient data and communications may be your EHR, but it might not contain the best capabilities for managing your RCM.
How Can The Medical Billing Claims Process Be Made Faster With EHR Integration?
Process streamlining is a critical component of an integrated revenue cycle and EHR system. What does that entail for your practice, though?
To Increase Collections, Reduce Errors
Your clinical tool and billing system will have a seamless data flow once your EHR and RCM platforms are integrated. This will lessen the possibility of errors during manual data transfer.
Fewer errors result in cleaner claim rates, fewer rejections, and fewer denials, which leads to quicker payment and less time spent on accounts receivable (A/R) follow-up.
Additionally, based on predefined rules, your RCM platform might be able to develop automated workflows that amend and correct claims. Additionally, by reducing billing errors, these capabilities will increase your practice’s revenue.
Time Is Saved, And Here Is An Increase In Productivity
Your team also saves time thanks to the linked health care revenue cycle and EHR systems. The two platforms will automatically exchange patient demographic and appointment data, making it simpler to confirm insurance or monitor the status of a claim.
Automated workflows in your RCM program can reduce administrative work if you have a small billing team, a busy practice, or both. By automating claim editing, payment posting, and patient billing reminders, these workflows free up your team’s time to concentrate on patient care.
Increases Patient Satisfaction
The revenue of your practice can be impacted in a variety of ways by an integrated EHR and revenue cycle management software. But the patients will also gain from this integration because content patients are more likely to stay with a doctor and make recommendations.
Patients are less likely to become frustrated or confused throughout the billing process if claims processing errors are reduced. Additionally, with seamless data transfer from your EHR to your billing software, your staff can more precisely confirm insurance and estimate patient costs. Patient estimates are an excellent approach to boosting patient loyalty and boosting upfront payments.
Your patient group is also impacted by the time savings from an EHR-RCM integration. Less time is spent on administrative tasks by your staff.
What Obstacles Do EHR Integration Efforts Face?
When it comes to EHR and health care revenue cycle billing systems, providers frequently encounter several interoperability issues. Concerns have been raised about the possibility of collaborating with different vendors to achieve the same objective. The absence of standard information-exchange protocols and APIs is a major concern.
In addition, it would be preferable to locate a good provider who is eager to cooperate and support your scalability. Many healthcare professionals are unsure of the security procedures in place to protect their patients’ personal information.
What Security Precautions Should You Consider?
For the use of sensitive healthcare data in digital workflows, including the integration of EHR, HIPAA is the gold standard of security. Therefore, your EHR integration vendor needs to be HIPAA compliant to protect the PHI from potential dangers. For instance, encryption of data is crucial for EHR integration because failure to do so can put the healthcare organization at serious risk.
To have a complete system to handle interoperability, you should also put a lot of effort into your IT infrastructure. Please keep in mind, nevertheless, that HIPAA is merely a foundational element of security standardization. Inquire of your provider what additional security measures they may offer.
It is clear from comparing the various EHR integration situations that the benefits of having EHR integration exceed the hazards associated with it. You shouldn’t be concerned, especially if you have a vendor who complies with HIPAA to assist you in your integration process. To learn how an experienced RCM provider can assist you in integrating your revenue cycle billing with your EHR system, get in touch with them today.
We hope this post has given you a better understanding of how revenue cycle billing efforts can be boosted by EHR integration.