Cloud services; especially SaaS or Software as a Service has great potential to reduce infrastructural costs of many a business including private medical practices. That is because everything is hosted in the “cloud” so as to speak, and clinics no longer need to bear the significant capital expense, which now can be converted into minimal operational expenses. This would really come as a huge relief for those practices struggling to make their ends meet. In addition to capital expenses and also a significant portion of the revenue (25% in some cases) lost due to errors in erroneous medical billing and coding techniques, clinics have had to pay a hefty monthly fee in utilizing the services of the so called conservative medical clearinghouses, which transfer the costs of maintaining their behemoth EDI infrastructure onto their clients, the clinics.
But there has been a silver lining among the dark clouds now for some time. A profusion of web-based medical billing services have been on the rise over the past five years. A revolutionary web-based medical billing product such as Kareo has been breathing life into many a sick practice. With subscription starting at $69 per month per physician Kareo and other such softwares have really enabled the small practices to stay viable and independent, and not be absorbed without a trace into the neighbourhood mega-hospital due to financial constraints.
At the heart of every physician is an entrepreneur (due to their specialized training) and this person would like to stay afloat independently as long as possible. Kareo, in a way has thus saluted that spirit by providing the tool necessary for a cost-effective and truly web-based medical billing experience. Everything that happens in Kareo does so from the confines of the browser, which is connected via the Internet to the all important cloud.
A breed of new medical billing companies have thus emerged to cater to the physicians who have started to use these web-based products. Billing Paradise is one such entity based out of California. These companies, who have a thorough understanding of all the functionalities of the SaaS Medical Softwares, provide support to the clinics in making full use of the latter’s features, which include but are not limited to electronic super bill generation, coding and scrubbing from any place which has an internet connection; customizing work queues, collecting ERA, generating weekly or monthly revenue cycle report etc.
Even if you do not have personnel to work on all of the above, companies such as Billing Paradise are ever so ready to bear the complete onus of your revenue cycle management on their shoulders for very nominal collection percentages. It is indeed fair to state that Medical Billing & Coding has experienced a paradigm shift with the advent of SaaS (Software as a Service) billing products.
