Insurance deductibles reset at the beginning of each year—meaning your patients must meet their deductible amounts again before their insurance coverage fully kicks in for certain services. 

This annual reset can result in higher out-of-pocket patient costs, which can impact their ability to afford medical services and affect a practice’s revenue cycle. 

Without proper preparation for this annual reset, clinics may face financial pressure. Medical billers may encounter significant challenges in securing reimbursements, and practices could struggle to manage patient expectations regarding procedure costs until insurance kicks in.

Taking the time to prepare your clinic can alleviate some of these concerns and support a smoother transition for everyone involved.

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Educate Patients on Deductible Resets

Gently reminding patients about financial perks, like taking care of healthcare needs while their deductibles are met, helps them make smarter choices and builds trust with your clinic. Here’s how you can get started: 

Leverage Electronic Health Records

Set up a system to alert staff about patients nearing their deductibles or eligible for year-end appointments. Using electronic health record (EHR) features to send automated patient reminders and informational messages offers clinics an efficient way to engage patients while improving appointment adherence and care outcomes. 

Offer Financial Guidance

Encourage your team to embrace your collective role in educating patients about the relationship between deductibles, premiums, and out-of-pocket costs. Provide tools or guide patients to consultations that will help them choose policies that align with their care needs and financial circumstances.

Streamline Insurance Verification and Billing

For an optimized insurance verification process, consider the following tried-and-tested strategies: 

1. Connect your EHR system with insurance provider databases for real-time verification.

2. Ensure patient information is accurately captured and transferred from intake forms to the EHR.

3. Use the EHR to perform real-time insurance eligibility checks at the point of registration.

4. Verify the automated results for coverage details, deductible status, and policy limitations.

5. Flag and resolve any mismatches or incomplete information immediately.

6. Ensure verified insurance details are updated in the patient’s profile for future use.

The Secret to Stress-Free Billing Take your billing to the next level with EHR-powered automation that pre-validates every patient encounter, verifies insurance, and submits claims with pinpoint accuracy—reducing errors and claim rejections like a pro. Call (480) 782-1116 to book your complimentary demo.

Manage Outstanding Balances Efficiently

Some insurance deductible tips that billing experts advocate include using EHR-integrated payment reminders to alert patients about upcoming payments and outstanding balances. This automation helps patients manage their responsibilities and reduces late or missed payments.

Ensure your EHR system tracks detailed billing histories so patients can quickly review past charges and understand their current financial status. Transparency empowers them to plan better and make timely payments.

For patients struggling to pay their balance in full, utilize your EHR platform to create customized payment plans. This approach can increase patient satisfaction and improve the likelihood of on-time payments.

Customize Reporting for Deductible and Billing Insights

EHR and medical billing platforms have advanced to empower billers with the resources to stay ahead of deductible resets and other annual transitions. 

Consider these specialized EHR reporting tools to analyze trends in insurance claims and patient payments for a more strategic approach:

• Claims Analytics Dashboards
• Revenue Cycle Management (RCM) Reports
• Accounts Receivable (A/R) Aging Reports
• Patient Payment History Reports
• Insurance Payer Reports
• Charge Capture Reports
• Claim Denial Reports
• Payment Reconciliation Tools
• Trended Financial Reports
• Utilization Reports
• Dashboard Reporting for Key Metrics
• Patient Balances Forecasting
• Claims Submission Timeliness Reports
• Patient Demographic Reports

Deductible Reporting Made Simple EMR reporting gives you the clarity you need to confidently manage claims and payment trends. Make informed, data-backed decisions to enhance efficiency and secure your practice’s financial future. Call (480) 782-1116 to book your complimentary demo.

Run a Year-End Analysis

Here are actionable tips for clinics creating reports for end-of-year analysis and preparation for deductible resets:

1. Analyze Patient Deductible Trends

Analyze historical data to determine how many patients meet their deductibles each year and when they usually do so—filter for patients close to meeting their deductibles. Your staff can use this group list to send automatic reminders and further deductible guidance.

2. Prepare Patient Outreach Lists

Identify patients with chronic conditions or frequent healthcare needs who might benefit from scheduling visits before deductibles reset. Highlight the financial advantages of addressing outstanding medical concerns before the year ends (e.g., screening costs now vs. next year).

3. Segment Patient Groups by Insurance Plans

Create reports that categorize patients based on their insurance plans and deductible amounts. Include details about common policy structures (e.g., high deductible vs. low deductible plans) to anticipate patient behavior better.

4. Highlight Preventive Care Opportunities

Identify patients who benefit more from preventive care services (often covered before deductibles). Encourage them to utilize these services for a strong start to the year.

5. Evaluate Revenue Impact of Deductible Resets

Assess the proportion of revenue generated from patients who have met their deductibles versus those who have not. Use this data to forecast the potential impact of deductible resets on early-year revenue.

6. Review Insurance Policy Changes

When insurers announce changes or notify the medical community, your billing team should include a section in the report that details these upcoming insurance policy changes. 

Also, highlight any changes in deductible structures or premium rates that could affect patient behavior.

Tap Into Our Expertise

Every clinic out there wants nothing but a smooth transition through the deductible reset season, but few understand what it takes to accomplish this. 

First, you must equip your front desk and billing teams with in-depth training on deductible management. This proactive approach should allow them to guide patients with many unanswered questions about their coverage, deductibles, and out-of-pocket expenses.

Your practice needs to harness the power of year-end reports to pinpoint potential early-year cash flow challenges, allowing for proactive adjustments. Utilize EHR systems for deductible management so your billing team can automate insurance verification and track balance progress hassle-free.

Ensure your practice is ready for the deductible reset. Reach out for expert training on EHR insurance features to support your team in managing patient expectations and streamlined billing with EHR efficiency.

Ready When You Are

Contact Us for Your Insurance Deductible Reset

As a podiatrist, you face a unique set of challenges that generic electronic health records often struggle to address effectively. Your daily practice involves a complex mix of patient care, from managing chronic conditions like diabetes to developing specialized interventions. It’s clear—a one-size-fits-all approach to electronic health records (EHRs) won’t cut it.

This is where specialty-specific EHR modules come into play. These tailored solutions are designed with the distinct needs of podiatry practices in mind, offering features that streamline your workflows and enhance patient care.

Explore how podiatry EHR software can address the limitations of generic systems and provide the targeted tools necessary for effective podiatric practice management. From improved accuracy in documentation to streamlined workflows, discover how these tailored solutions can support your practice in providing exceptional patient care.

Elevate Your Foot and Ankle Center 

Discover the Power of a Podiatry-Specific EHR!

Unique Needs of Podiatry Practices

Unleash the full potential of your clinic’s healthcare IT assets by advocating for your podiatry practice’s specific needs. Kick-start your journey with this essential checklist of features that podiatrists demand in their EHR system.

Specialized Documentation 

• Tailored templates are available in a podiatry EHR for foot, ankle, and lower-leg conditions.

• Comprehensive coverage systemically captures health information, from diagnoses to treatment plans. 

• Condition-specific fields allow for detailed documentation that aligns with podiatric clinical guidelines.

Clinical Workflow 

• Precision documentation captures relevant details for podiatric care, reducing errors and omissions.

• Streamlined processes minimize the need for customization and speed up routine tasks like charting and billing.

• Built-in tools like automated coding suggestions and integrated diagnostic tools reduce time spent on administrative tasks.

A Smooth Transition to Podiatry EHR Sarah Reichstein, Business Manager, Grand Island Foot Clinic “Hello, my name is Sarah, and I wanted to take a minute to tell you about my experience implementing a podiatrist EHR program. We researched for about 18 months and, in doing so, looked at over 20 different EHR programs. We recently went live with IMS through 1st Providers Choice and were completely thrilled that during the first two months of the transition of going paperless, we showed an increase in productivity even during training and the implementation process.”

Benefits of Specialty-Specific Modules

Enhanced Accuracy 

When documenting a patient’s condition, a podiatry-specific EHR can automatically suggest relevant diagnosis codes, treatment options, and follow-up care plans. This reduces the risk of errors and, more importantly, minimizes the time you and your staff spend on administrative tasks.

Tailored Templates

When creating notes on a routine procedure such as a bunionectomy or a diabetic foot exam, the tailored system can provide a template that includes all the relevant fields, such as medical history (e.g., arthritis, diabetes) and foot condition (e.g., deformity, skin condition). 

This pre-configured template ensures that no critical details are overlooked and that documentation is thorough and compliant with clinical guidelines.

Integration Capabilities

When using emerging treatments, foot and ankle specialists and orthopedic surgeons would benefit from having podiatry EHR systems that can integrate with new devices. For instance, smart sensors that alert surgeons (through the EHR) or caregivers (via smartphone app) when the patient puts weight on an injured foot or ankle.

Integrating with Practice Management and Billing

Many clinics still use separate EHR and practice management systems, but modern EHRs offer convenience and time savings. Customized EHR systems allow foot and ankle clinics to combine specialized tools with business acumen for high-quality care and a thriving podiatry practice.

Practice Management

The best EHR for podiatry should not only include specialty-specific modules—it must combine with operational management and billing features to create a seamless experience for the clinic. A complete software solution should include scheduling functions, security tools for compliance, and effective communication among team members.

In addition, it’s common for patients to arrive at appointments with questions after seeking information about foot health online. A podiatry EHR’s practice management module should enable doctors to offer patient education tools, such as sharing foot care tips and debunking myths about musculoskeletal injuries through downloadable guides or pamphlets.    

Billing Module

A podiatric clinic uses X-rays, MRIs, and other imaging tests to ensure accurate diagnosis, as particular foot and ankle conditions are linked to deformities, lifestyle and walking patterns, and chronic illnesses such as diabetes and obesity. 

The ideal EHR and billing software should address you or your medical coder’s needs, like the ability to quickly search a code by name or root procedure, choosing the correct modifier, and so on. Such features are handy, especially when coding for complex conditions requiring more documentation.  

Due to this wide-ranging scope, your clinic would benefit by implementing a billing module that enables thorough documentation (with easy access to test results), reduces claim denials, maximizes revenue capture, and lessens administrative burdens for you and your staff.     

Boosting Revenue with Expert Support Christine Woodson, Office Manager, Sedona Foot & Ankle Specialists “We were uncertain and a little skeptical about bringing the billing in-house because I had never done billing before. Our office was able to bill in-house during this time of implementing IMS, and our revenue is up, and our turnaround time is quicker than ever before. We are happy that we decided to go with 1st Providers Choice and made the transition to utilizing IMS for Podiatry.”

Tap Into Our Expertise 

Imagine being able to quickly pull up codes for any podiatric condition or simply enjoying the ease of not having to customize patient forms manually. An EHR software explicitly designed for your podiatry practice offers these benefits and more, making life easier for your staff and patients. 

With this specialized EHR, your clinic can focus on delivering high-quality care for patients dealing with foot, ankle, or lower leg injuries. The practice management and billing modules, along with other specialty features, handle the heavy lifting—from keeping your documents organized to ensuring your profitability stays on track.

Are you ready to enjoy these top-tier benefits in your clinic? Contact us at (480) 782-1116 to request a demo or callback. Our podiatry software experts would be happy to learn about your unique challenges and discuss how our specialty-specific EHR can help address those issues point by point.

Tackle Your Clinic’s Unique Challenges 

Uncover the Best EHR Software for Podiatry

Podiatry EHR software provider 1st Providers Choice is proud to announce that they will be attending this year’s Valley of the Sun Podiatry Conference as an EHR exhibitor. Co-sponsored by the Podiatry Institute and the Arizona Podiatric Medical Association, the 2014 conference is being held in Phoenix, Arizona from April 24-27.

Among the list of interesting topics that will be presented at the conference by various highly-respected and well-known doctors of podiatric medicine are: Surgical Treatment of Advanced Forefoot Deformity, Innovations in Podiatric Medicine and Surgery, Dislocating Personnel Tendons- Reliable Repair Techniques, the Role of Advanced Biologics in Wound Care, Syndesmosis Repair, and more.

There will also be several hands-on workshops featuring latest techniques and technologies including topics as such as: Ankle Foot Orthotics- Controlling the Uncontrollable Foot, Navigating the Challenges of MRSA Infected Wounds, and Treating Complex Hallux Valgus Deformities.

All these lectures, workshops, and education sessions will help educate conference attendees to better understand the various updates and strategies in would care, surgical approaches to complications and revision surgery.

Healthcare professionals will also have several opportunities to meet with podiatry EHR vendors and other companies showcasing their podiatry-related products. 1st Providers Choice will be exhibiting their EHR and practice management software. Some of the features of our podiatry EHR software include:

• Podiatry-specific exam and procedure templates, letters and forms
• Billing codes specific to podiatry (ICD-9, ICD-10, CPT)
• Pre-loaded reports and ability to create custom reports
• Image library with hundreds of foot-related diagrams
• Client-server and web-based hosting options
• Extensive drug formulary database
• Ability to e-prescribe controlled substances
• Meaningful Use Stage 2 certified

To learn more about the conference, click here. We hope to see you all in Phoenix!