Medical billing is an increasingly popular office or home-based small business opportunity that ultimately involves using skills and knowledge in medical terminology, insurance claims, and customer service to ensure that physicians and medical clinics receive payment from patients and insurance companies. Whether working from home based small-businesses or at large hospitals, every medical biller utilizes medical practice software. Though still referred to as medical billing software, today’s electronic medical practice software is also more accurately called medical practice management software and covers many functions. Up-to-date medical practice software will generate a variety of reports based on data, manage appointments, as well as collect, transmit, and track billing information and payments.
Current medical practice software will also make sure that records are kept in compliance with the Health Insurance Portability and Accountability Act security standards. When deciding on software to buy, compliance with this act is an extremely important consideration and will help you steer clear of some of the software scam artists out there. Many vendors will allow a trial use of their version of the program to see if it fits your needs. Remember that a good medical practice software suite will cost at least $500 so don’t be fooled by people trying to sell $50 products that don’t even function. Though electronic billing is still mainstream, there is a movement towards exclusive online billing where a subscription is setup on the web allowing a paperless entry of patient information, claims, and many more. This service will cost more than $200 per month so you have to research and weigh the benefits of a one time investment for electronic medical practice software that is local or the online web-based software that can be used from any web-connected computer or terminal.