How do mental health providers take care of their patients and employees alike? A properly functioning wellness machine needs everything from trained professionals to regular funding in order to work properly, but a commonly underestimated factor can be thrown to the wayside in light of these facts. Patient billing software, and associated behavioral health billing software companies, provide clinics and hospitals with the streamlined financial process they need to keep their customers stress-free and financially accommodated. With a modern mental health billing service therapists and customers alike can spend less time worrying about fees and upgrades and more time encouraging mental wellness.
Mental Health In America
Mental healthcare is necessary to help those suffering from various disorders function in their day-to-day life, from maintaining a full-time job to taking care of their family. It’s thought that the nation’s overall spending on mental health, from medication to therapy to awareness campaigns, has reached over $100 billion as of recent years — this accounts to nearly 6% of all medical costs made in the United States. However, it’s been found that over 15% of people with mental health issues avoid treatment due to high costs, with many insurance companies still being unwilling to cover the expenses required for treating depression, anxiety and bipolar disorder. Therapist billing software services are becoming an increasingly necessary method of getting patients the care they need when their options are limited.
Financial And Technological Security
Patient billing software’s streamlined process and security measures are necessary for doctors, employees and patients alike. A recent study found that 70% of providers in the year 2012 claimed to receive at least half of their payments electronically, further cementing that cash and check are quickly falling out of favor. The U.S. Department of Health and Human Services’ breach list found a quarter of reported breaches due to laptop theft, with half of all breaches involving theft and insider abuse. Psychiatry billing services provide a buffer that drastically reduces the fallout of malicious intent and can better trace offenders in the long-term. Patient billing software not only increases security, it can even out the financial playing field.
Affordability And Accessibility
With increased financial security and reliability, patient billing software is moving to the forefront of mental health clinics and pharmacies across the country. However, it also reduces the chance for human error and even sees traditional costs cut in half — the staff requirements needed for paperwork are significantly reduced and save paper claim submissions a stunning $9,000 per physician every year. Last, but certainly not least, e-claims can be filed far more quickly and save both physicians and patients time and money. Recent studies have seen e-claims with an average turnaround of seven days, with paper claims taking twice as long in general. The general cost for an e-claim is below $3, while a paper claim can cost over $7 per application.
Installing Patient Billing Software
Behavioral health billing software is essential to keep your clinic and pharmacies running smoothly for all parties involved. Common issues such as security breaches and costly prices are drastically reduced with this recent technology and can even help more people suffering from mental illness get the help they need. Installing a new program is as simple as contacting billing software companies and informing them of your budgets and goals for the future. Next time you decide to improve how your clinic or company functions, consider installing a new brand of patient billing software to save time and money.