Financial reporting apps & why every doc needs one!

 Erika Regulsky Tags: , , , , Software
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Are physicians getting paid for their work? The answer is a big “No”. They have to face the dreary reality of shrinking reimbursements and increased scrutiny over their billing practices. To curb denials and stabilize cash flow it is imperative that physicians track and analyze data at the micro-level. It will help them to seal the leaks in the revenue cycle and know where things go awry.

The rise and rise of mobile apps!

The healthcare world has changed remarkably and there is a heightened need for smart revenue cycle tracking apps. Say goodbye to sporadic revenue reports and hi to timely, detailed, revenue reports. Mobile applications have revolutionized the way reports are stored and accessed. They offer a centralized repository for all types of financial data and offer smart user-friendly features.

Some of the major benefits of mobile reporting apps are…

1-    Improved Quality and Consistency

2-    Increased Predictability of Outcomes

3-    Data-Driven Insights

4-    Labor Savings

5-    More Prominent Output

6-    Financial forecasting

The healthcare industry is witnessing a rapid growth in automation of medical billing reports. The mobile health technology market that includes devices, applications, and services is expected to exceed $8 billion by 2018, according to research company GlobalData. That’s up from $500 million in 2010, a 44% compound annual growth rate.

The automation of financial reports generation…

Automation uniformly manages and enforces policies and minimizes revenue cycle vulnerabilities. Most apps offer strong user authentication that prevents unauthorized use. Mobile reporting apps help physicians to view vital financial information, anytime, anywhere, and from any device. The visceral user can proactively respond to billing queries and stay more clued into the billing process. Healthcare professionals can track every detail such as claim submissions, rejections, coding patterns etc… effortlessly.

What is theBillingBridge?

All things said zeroing in on the best medical billing app is very challenging.  theBillingBridge is a comprehensive revenue reporting app that helps to maximize the financial health of medical practices. And it replaces 6+ systems with its varied features

theBillingBridge is a universal app that can be integrated with all major EHRs and PMS systems. A highly optimized app, users can check and track every phase of their revenue cycle on the go. It automates, streamlines and simplifies the revenue cycle process and generates reports in real-time. The internal communication features the app offers facilitates 24/7 communication between medical practices and their billing offices.

 Appointment Scheduling using Robotic Process Automation

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I’m a multi-certified revenue cycle management professional and compliance officer with 20+ years of experience. I contribute articles to leading healthcare publications and journals. I am currently working as Senior Transition Manager, in BillingParadise headquartered at Diamond Bar, California. BillingParadise offers Medical Billing Services that intersect perfectly with the EMR/Practice management system you use.BillingParadise has offices in New Jersey, New York, Florida, Georgia, Minnesota, and Texas.

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