Medical Billing News

ebilling Hits New High In Private Health Sector Says Healthcode

medical billingIn the first six months of 2015, e-billing by private healthcare providers increased by 28%, compared with January to June 2014 and by 50% on the same period in 2013. The latest insight into billing behaviour was released by Healthcode, the official clearing company for medical bills to private medical insurers (PMIs) which processes around £3bn worth of medical invoices annually.

The surge in billing volumes was particularly marked among independent practitioners which grew by 81% in January-June 2015 compared with the first six months of 2014. Invoices from independent practitioners represented nearly 40% of the total. This reflects the growing adoption of e-billing by consultants: the number of users in this group have grown by 64% in the last year.

e-billing in the private healthcare sector saw another landmark in March 2015 when over 425,000 bills were processed and cleared by Healthcode, the first time that monthly total had exceeded the 400,000 mark.

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New Healthcode Initiative Smoothes the Way for Hospital e-Billers

HospitalsThe UK’s experts in secure online invoice submission have launched an initiative to optimise electronic billing for insured patients. Healthcode, which clears more than 200,000 e-bills each month from hospital providers, has appointed Sam Hobbs to lead its new Hospital Billing Programme.

 

Read more: New Healthcode Initiative Smoothes the Way for Hospital e-Billers

Healthcode sets the standards for medical billing

New industry billing guidelines have been developed to help independent practitioners get their invoices right first time and avoid unnecessary payment delays. The free guide has been produced by Healthcode, the official medical bill clearing company for private healthcare in the UK and is endorsed by all the main Private Medical Insurers (PMIs), including Aviva, AXA PPP healthcare, Bupa, PruHealth and Simplyhealth.

Read more: Healthcode sets the standards for medical billing

Surge in e-Billing by Independent Practitioners

medical billingIndependent practitioners submitted 76% more electronic invoices in 2014 than the previous year according to Healthcode, the official clearing company for the private healthcare sector. In another sign that e-billing has become accepted practice within the industry, the overall volume of e-bills from non-hospitals and hospitals increased by nearly 20% in 2014.

Healthcode’s analysis shows that independent practices are fast catching up with hospitals who were early adopters of e-billing. The 76% growth in 2014 is nearly three times the rate in the previous 12 months (e-billing volumes grew by 27% in 2012/13) and the total number of e-bills in 2014 was 3.5 times more than the number submitted five years ago (2010). Invoices from independent practitioners now represent 32% of the total submitted, compared with 22% in 2013 and just 12% in 2010.

Read more: Surge in e-Billing by Independent Practitioners

Keeping a tight control on finances with ePractice biller Plus

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For Consultant Physician Dr Adrian Draper, maintaining complete control over the financial aspects of his practice is essential. Using Healthcode's ePractice biller Plus system to manage his practice billing has enabled him to achieve the control he requires.

For three years Dr Draper has been using the system to create medical bills and send them to insurers through Healthcode's electronic bills clearing system. He also uses the system to generate invoices for self-paying patients.

"When I started my practice I was spending a lot of time generating my own paper bills. Once I moved to the Healthcode system I noticed a big reduction in the amount of time I spent on paperwork and mailing."

 Dr Draper finds the payment tracking feature an excellent tool for improving cash-flow. "Being able to record and track payments helps me manage debts more efficiently. With a summary of unsettled invoices to hand, I can chase up payments from individual patients in good time."

Getting to grips with the system was straightforward enough and Dr Draper soon became aware of the advantages several of the features offered. "The membership enquiry feature is particularly useful", he says. "I can validate a patient's insurance details online before sending the invoice. Sending bills through the electronic clearing system is a real time saver too and means I get paid more quickly by most insurers."

Dr Draper also uses the system for producing his annual accounts. "When my accountant asks for information at the year-end I can use the Healthcode report generator to produce much of what is required."

Dr Draper believes electronic billing is the future for private practice. "Much more efficient than paper systems and with features like payment tracking and reports, the ePractice biller Plus system has much to offer consultants managing their own finances like myself and also to medical secretaries who are looking after larger practices."

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