Let me tell you about one of the scariest places in the world. A place from which it feels there is no escape…where you feel as if you're stuck in quicksand...a place that was once so promising, but that now leaves you feeling confused and defeated.
Welcome to Excel Hell.
You may be one of the lucky ones who found a way out of this quagmire; or you may be living this pain on a daily basis. Either way, treatment centers across the country are complicating their processes by continuing to rely on Excel for organizing their insurance billing information.While it can be a great way to organize and track data, after reaching a certain data threshold it can become deceptively easy to lose track of the main thread with Excel; and the more employees you have working within a specific spreadsheet, the easier it becomes for mistakes to be made and changes to go undocumented. Multiply these headaches by the number of sheets your organization regularly updates, and even the most seasoned administrator can feel overwhelmed.
But don’t despair! There is a way to break the cycle. Revenue cycle management software can provide you with the means to steer clear of the terrifying complications that come from Excel Hell.
Here are three essential elements you can enjoy by implementing revenue cycle management software within your daily process:
1. Automation
The main benefit of ditching spreadsheets for billing software is the ability to automate processes that formerly had to be done manually. A streamlined system ensures that claims are being submitted and billing is occurring on a regular basis, allowing you to redirect the time and energy you currently spend on rote processes to more specialized aspects of your business instead.
Automation also eliminates the need for manual entry by utilizing an integrated system that turns documentation into charges, detects changes, and notifies you in turn. The bottom line? Spend less time trying to get paid, and more time working on ideas that will get you paid even more.
2. Implementation Of A Set Process
Another benefit of automation? When you experience turnover, you no longer have to depend on a former employee’s undocumented process that suddenly stops working when they’re no longer with the company. You also don't need to contend with multiple people working out of one spreadsheet, and the possibility for errors inherent in working that way.
With automation, procedures and protocol are firmly in place, guaranteeing optimal efficiency and saving you the trouble of figuring out a critical process via guesswork.
3. Transparency
"In spite of its ubiquity in business, Excel is anything but transparent. Without comments, it’s virtually impossible to track changes and understand updates in an Excel spreadsheet," wrote Murphy Troy on Linkedin. Transparency is important in every industry, but those in the behavioral health space know how critical it is for tracking reimbursements.
You don’t know what you don’t know, and you can’t manage what you can’t measure. By utilizing a central hub that allows you to automate processes and maintain consistency in a way that Excel never can, you'll start enjoying a level of transparency that will greatly improve accuracy and, ultimately, your overall profits.
Just because you've always done something a certain way doesn’t mean it’s the best way to do it. Integrate automation within your management framework and reap the rewards that come from reducing cycle time and increasing growth initiatives.
Click here to learn more about how a central billing platform can help you streamline your business!
Further Reading:
- 3 Questions To Determine If A Billing Company's The Right Fit For You
- 3 Ways Electronic VOB & Eligibility Saves Money & Time By Finding The Right Fit
- Aspen Ridge & Avea: Sharing A Vision
