The A-Z Guide of hospital management and billing software

A recent study has revealed that primary healthcare consultants in India spend only about two minutes attending a patient, compared to an average of 20 minutes in western countries. The poor doctor-patient ratio could be a reason for this. Additionally, the growing prevalence of lifestyle diseases and a rise in the number of patients shows a huge opportunity for doctors to leverage.

With medical science constantly evolving and more super-speciality hospitals taking root, there is an indispensable need to manage medical practices effectively. Technology has now become vital for hospitals to streamline and ensure efficiency in day-to-day operations.

Hospitals and medical professionals must invest in management software to help them smoothly handle business aspects and everyday tasks, from scheduling appointments to completing billing procedures, to bring about the necessary seamlessness in procedures.

Features of a Hospital Management System (HMS)

An HMS helps in effectively managing areas like,

• Patient information documentation
• Room and ward management
• Ambulance and other services
• Operation theatre availability and details
• Laboratory tests and equipment management
• Report creation and generation
• Inventory and pharmacy management
• Staff management
• Billing and insurance
  

How hospital management and billing software can benefit your medical practice?

The software is designed to facilitate a better and more efficient way of running a hospital, thereby reducing costs and boosting profitability. Let us look at how the software achieves the same.

1. Scheduling Appointments

A major aspect of all medical facilities is scheduling and managing appointments. Most medical practice management software includes a scheduling and calendar tool, enabling receptionists and staff to manage hundreds of patient appointments. They also offer flexible options for appointment timings.

The software helps keep track of numerous patient visits. Many also feature automated scheduling functions. If a patient needs to change a schedule, the staff can easily trace appointment information in the system. This software also features a colour-coding design to help doctors and other healthcare providers identify their available appointments and patients assigned.

2. Maintaining patient records

Maintaining proper and accurate records of patients is critical to the success of any medical practice. A management software, in this regard, enables the staff to create electronic patient information charts.

The charts include vital information like patient medical history, medications, reasons for visits, insurance information and other personal details. Typically, the information is entered into the software and the system automatically updates the chart and verifies insurance benefits through electronic data interchange.

3. Creating Reports

Many software systems come with pre-established reports and the ability to create new reports. Others have customisable reporting abilities that enable stakeholders to assimilate patient data and financial information into useful reports. Having software makes it easier for medical personnel, patients, and insurance companies to access reports, as all reports will be found in one place. Some software also provides basic billing reports for patients and insurance companies.

Additional Read: 10 Reasons Why Should Doctors Consider Going Digital?

4. Billing procedures

The billing process is one of the most critical modules in a healthcare system. It involves patient registration, tests conducted, doctor fees, ambulance and other charges. Before a patient is discharged, they need to pay the entire bill, and here, management software aids in an error-free and speedy process.

Software systems allow staff to input the prices of services, insurance discounts, and additional charges using a certain code. Every charge is typically matched with a particular service or treatment performed on a patient. The systems also allow for automated billing processes.

For insurance claims, the software makes the process much easier and faster. It assigns special billing codes for various procedures to ensure a smooth process while submitting to the insurance companies.
“Insurance companies would like billing in an organised format, and that will also push IT,” puts Agrees Jalan, former CEO of Apollo Health and Lifestyle

How much does an HMS cost?

Advanced hospital management software is available as a cloud-based solution or as standalone software. The price ranges from Rs. 1,12,373.10 to Rs. 52,44,078 per provider. For a cloud-based solution, the average cost of deployment is Rs. 19,47,800.4, with Rs. 5,99,323.20 per year running cost. For standalone software, the average cost of deployment is Rs. 24,72,208.20, with a running cost of Rs. 2,99,661.60 per year. So, for deploying the right HMS, along with technical expertise, a flexible and stable source of finance is also necessary. For this purpose, NBFCs have special loans for doctors that offer high loan amounts and are disbursed to doctors within 48 hours with minimal documentation and door-to-door services.

Examples of HMS solution providers

Some examples of hospital management software solutions include MediXcel EMR, NextGen by NextGen Healthcare, MediSteer, e-Hospital, SkyVF and Aarogya. Therefore, hospital management software is an important determinant for medical facilities to ensure professional operations and effectively meet patient needs.

Every hospital management system has a unique design and structure to meet the needs of a medical facility. The systems are created to work on various configurations, including networks connected to the Internet, desktops, and client services.

A good hospital management software helps you manage all operations of your practice, achieve good-quality ratings, manage your revenues better. Reduction in errors, improved clinical decision-making, enhanced data security and technological advancement of your practice are added benefits.