The billing and insurance module of a hospital software helps to compose billing plans as well as invoice clients. They enable the hospital facility to regulate an arrangement of non-standard payment and carry out bill collection & account receivable settlement. Typically, these modules are used at the accounting department of large or mid-sized medical facilities. They aim to streamline the billing process, decrease errors and administrative costs, and enhance the organization’s cash flow.
This latest module of hospital management software allows the medical facility to manage the payment of patients as well as their insurance needs. Therefore, it’s crucial to choose the correct hospital billing software that can successfully cater to your requirements. In this article, we’ve briefly described how the billing and insurance module has shaped the process at hospital facilities.
What are the uses of the billing and insurance module?
The module automates the entire billing process and eases the backend calculations for deductibles and co-pay to bring accountability and transparency. The hospital billing and insurance module is streamlined, and it works on a pre-determined business rule tailored to fulfill the needs of insurance companies. Here are some of the uses of the billing and insurance module:
The module provides access to a flexible and easy-to-use management screen for hospital invoices. Also, the conversion of a sponsor to cash patient & vice versa has become easier than ever. It allows you to create multiple categories and plans for one or more than one patient so that it’s easily readable and understandable. The hospital can easily include or exclude any particular pharmacy or services from the plan. It can help merge more than two invoices. Discounts that are offered on a particular package can be split equally among all other services provided as discount rates or percentages. Discounts can be applied both partially and wholly on services, as well as a pharmacy.
You get a separate screen for sponsor approval that also shows updates on the status. The medical facility can have greater management and generation of the hospital health package. The patient insurance claim is also covered under this module of the HMS. The best part is it offers automated backup of data so that nothing is left unsaved while the user is in a hurry. The medical facility gets a daily or monthly report as per their requirement. The process of IP and OP billing gets easy with a separate screen for the two. The unit can have greater control over the day-to-day expenses and can easily monitor profit and loss statements.
What are the different types in the Billing System of HMS?
There are several departments where billing in HMS is used for enhancing the hospital billing process. Here are some of them:
- Pharmacy billing
- In-Patient billing
- Consulting and registration billing
- Laboratory billing
1. Registration and consulting Billing
For both new patients as well as follow-up patients, the module helps to book appointments in advance. Also, it creates bills for radiology services and certified lab.
2. Laboratory Billing
It aims to record and disseminate the data of different tests that are performed on the patient. Here are the salient features of the laboratory billing module.
- Excels different diagnostic packages and tests
- It works adhering to the NABL standards
- It has a dashboard for authorization, tests, TAT, parameters, and progress works
- The software offers updates on the status of labs after carrying out a proper analyzation
- It does a recheck with Sample Collections
- Offers results from the process of sample collection, fetch analyzer data, and recheck process.
3. Pharmacy Billing
The hospital billing system deals with delivering the sales of medical supervision to customers, OPD patients. Also, it helps with issues associated with medicines to the in-patients of the hospital. The features of the pharmacy billing module are as follows.
- Offers a wide collection of drugs available for clinicians
- It easily pops up alerts regarding drug allergy
- Sorts out alternative drugs when certain drugs are not available
- Facilitates interfacing with a database of drugs
4. In-Patient Billing
This module aims to take care of patients who have been allocated a bed in the ward after registration. It deals with all treatment and services offered to a patient during his or her stay at the hospital. The features of this category are as follows:
- It has the ability to take over the conversion of OP to IP
- It maintains the billing sheets for the patient
- It comes with a dashboard for billing audit, discharge summary, patient access, other activities, and many more
- It looks after the patients by allocating them beds, offers consultation for inter-departments, regulates bed transfers, and tacks patients inside the medical facility.