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CODING SOFTWARE vs. BILLING SOFTWARE

Before you read lower, you must first understand one thing: If you already have or are planning to bring your billing in-house, billing software is an absolute necessity. It is indispensable to your practice and very much a necessity to properly bill in-house. However, many people do not realize exactly what billing software does, what coding software does, and what the distinction between billing and coding is in the first place, since the two are so frequently linked. The point of coding software is to maximize your in-house billing operation and to aid your billing software, not replace it.

Most people do not understand that there is a difference between coding software and billing software. In fact, the two have very little in common. To understand the difference, one must first realize the following fundamental aspect of the business of health care - Medical practices actually make money in only two ways: coding and collection. Billing is really just printing the codes with the demographics and sending it in to payors in a timely fashion.

Proper coding leads to an increase in revenue due to decreased rejections, increased reimbursement for under-coded cases, and a high-level of compliance, which not only keeps the practice running smoothly, but also eliminates costly legal fees that arise in the event of an audit.

Furthermore, proper coding aids the collections part of your practice. First of all, proper coding leads to fewer rejections, which in turn allows more time to focus on the rejections and also on non-payments. Furthermore, sometimes claims are rejected and for no valid reason. If you have maintained proper records of your coding and documentation, it will greatly aid you when disputing rejections.

Billing Software basically helps in two ways. The first is that because it is electronic, it aids your practice in moving toward the goal of a paperless office, and therefore also reduces the likelihood that you will misplace a record. It also prevents you from misfiling. Additionally, billing software is helps you submit your claim on time, which definitely is a practice to which you should adhere.

It is important to realize one thing, however: Aside from helping to prevent overdue claims and reducing your paper expenses, a billing software will have absolutely no tangible financial benefit to your practice. Billing software is an expense, nothing else. Now, that is not to say that it is unnecessary. Billing Software is an absolute necessity for any practice billing in-house. They work wonderfully and ease the task of claim submission immensely, as well as collecting all of your billing data and putting it right at your fingertips.

However, while there is clearly a need for billing software, there is simply no need for an obscenely expensive billing program. It is just a glorified accounting program, so why spend tens of thousands of dollars on it? By contrast, the Imogen Universal Product Suite's Coding Applications are not just an expense. They are an investment. A money-making investment. Our programs revitalize and revolutionize your coding, making it more accurate, incredibly efficient, in-depth and thorough, and help raise and maintain your compliance. By coding your case correctly and thoroughly you will see a decrease in rejected cases, which means more reimbursements. If you undercode now then proper coding will greatly increase your revenue. Additionally, you can maximize your personnel time due to the incredible reduction of time necessary to code coupled with the immediate decrease in rejected cases.

The bottom line is that this is not a question of "Which is better?" or "Which one should I get?" You need both billing and coding software. They complement each other wonderfully. If you have reservations about buying both, there are many cost-effective and completely functional billing programs out there. As I said, a billing program will not make you any money. It is an expense, pure and simple, albeit a necessary one. But realize that the gains in revenue you experience from using a product from the Imogen Universal family will not only pay for itself, it (depending on what billing software you choose) will probably also pay for the billing solution, and even after that you might have some money left over. And it's always nice to have some gravy on the potatoes.

 

 

 
         
   
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