Top 5 Benefits of an Integrated Billing and Payment System

Billing and payment processing is a pain point for many diagnostic imaging centers around the country. Reimbursements are declining and managing contracts with complex payment exceptions is overwhelming. With all of the changing regulatory requirements, it’s already challenging enough for practice administrators to maintain current revenue levels. The pressure is on for these managers to grow practice revenues while streamlining operations and improving patient engagement.

 

Due to the increasing complexities in payment collection for radiology practices across the country, an integrated RIS with billing and payment system is not a luxury, it is a must. That is why AbbaDox and ImagineSoftware formed a powerful partnership to leverage one another’s expertise and provide a market-leading, seamlessly integrated radiology information system (RIS) and billing solution.

Here are the top five ways a robust, all-in-one solution for billing, payment, and practice management can benefit your imaging center.

When it comes to front office operations, efficiency is key. With an integrated billing and payment solution, collecting payments and verifying open balances is simple and practical. Using one comprehensive centralized solution, front office staff can easily verify and collect payments that will be instantly and automatically posted and updated within the AbbaDox RIS and ImagineBilling. Your staff will never have to leave the system or switch programs to process anything for your patients. Efficiency and productivity will skyrocket without compromising accuracy. Streamlining these operational workflows, from initial online appointment scheduling to final payment collection, can help reduce confusion, promote transparency, and save labor resources.

Time-consuming tasks like billing and payment collection can be very costly for practices. By automating and optimizing your imaging center’s revenue cycle management (RCM), you can reduce costs and maximize the revenues collected. An integrated solution eliminates the need for duplicate data entries, updating ledgers that usually clog up your workflows causing errors and omissions. With a seamlessly integrated billing solution, you can drastically increase the number of claims submitted and processed payments collected, greatly improving your cash flow and reducing the number of days in A/R.

The importance of high-touch, high-quality patient experiences has only intensified in the last several years. Patient engagement and retention is a hot topic due to the increasing competitiveness amongst medical practices. For diagnostic imaging centers, the priority must be dual purposed. Practice personnel must focus on improving the bottom line while also improving patient engagement. A key component in this is pricing transparency. Patients are now requesting their healthcare providers adhere to clear transparency of pricing. Through an integrated billing and payment system, patients will know the exact amount owed and can easily make a payment before services and exams are even performed. These payments can be made from the convenience of patients’ mobile devices or computers at any time. This also increases the percentage of on-time collections for imaging centers, thus improving their bottom lines. It’s truly a win-win.

Practices have increasingly embraced convenient options for patient interaction and information exchange. This is especially important in the midst of the global COVID-19 pandemic where waiting rooms have transitioned from imaging center lobbies to the comfort of patients’ vehicles. Through automated, customizable bi-directional text messaging originating from the RIS system, patients will receive messages right to their phones reminding them of appointments and notifying them of completed results. ImagineSoftware’s comprehensive, user-friendly Patient Payment Portal, ImaginePay™, eliminates the need for payment methods to exchange hands. Patients no longer have to pass over checks or touch office credit card machines.

Not only will your practice benefit from the re-imagining of your payment collection process, but it will also benefit greatly from the minimization of errors. By reducing reliance on personnel to manually enter and process payments, practices will experience fewer instances of human error. In addition, the increased speed and precision with which the integrated RIS system will allow practices to process payments will lead to a higher volume of accurately collected revenues. Plus, constant user-driven enhancements ensure that both the AbbaDox cloud-based RIS and ImagineSoftware integrated billing and payment system are always at the forefront of technological advancements for radiology practices.

The consensus is clear, using an integrated billing and payment system will provide a number of monumental benefits to your radiology practice. Do you want to learn more about how the AbbaDox RIS and integrated ImagineSoftware billing platform can save your practice money, enhance patient engagement, and streamline your revenue cycle in 2021?

Sign up below to view the recorded webinar.