Specialty Billing Software Solutions

Healthcare Specialty Billing Software Solutions

Business Challenges

OSP Labs’ Healthcare Specialty Billing Solutions caters to the billing needs of healthcare providers who are expanding their footprint by employing or affiliating with multi-specialty physician groups. Our multi-specialty billing services are instrumental in offering the comprehensive RCM solutions featuring interfaces to ADT, EMR and electronic charge capture systems to minimize errors and delays in the billing process. With our expertise and domain knowledge, we create specialty billing software solutions that automate and bring efficiency to the rigorous workflow in each healthcare specialty offering. Our multi-specialty billing software solutions manage charge entry, claims to scrub, medical claims filing, payment posting, patient billing, denial management, A/R follow-up and comprehensive reporting.

Solution Design & Development

Our hospital management system multi-specialty software solutions are highly flexible and efficiently deal with any combination of tax IDs, medical specialties, reporting groups, locations, and users.

  • OSP Labs' healthcare specialty billing software solutions help to optimized multi-specialty workflows through automation. Our multi-specialty billing solutions enlist multiple flexible processes that adapt to your workflow with proper attention and payments are quickly applied electronically for carriers with automatic reconciliation.
  • Our multi- specialty billing services help the billing organizations to gain access to advanced operational, financial, and clinical analytics with user-friendly features. Collecting data from multiple databases devoted to each specialty and EHR systems is made possible with advanced features like KPI monitoring system and automated report distribution.
  • Our hospital management multi-specialty billing solutions enable the programming of custom bill management modules. For every unique speciality, we offer unique billing module featuring custom templates, optical character recognition, import/export functions, auto-population, multi-tier approvals, and claim status notifications.
Values Delivered
Healthcare specialty billing software solutions
Payment Processing
Accept partial, future, recurring, automatic, one-time, and overpayments via multiple self-pay channels with remotely created RCC images.
Healthcare specialty billing software solutions
Invoicing Portal
Bring efficiency to the billing services with interactive billing portals for full self-service management of contact data, payment histories, and claims.
speciality billing software solutions | Healthcare speciality billing solutions
Billing CRM Management
Develop secure databases integrated with CRM platforms to store multi-specialty billing information.
specialty billing solutions | specialty billing services
Electronic Billing
Gain access to automated customized electronic billing presentment and healthcare payment solutions for multiple specialties offered.
specialty billing services | specialty billing solution
Billing Autocoder
Gain access to auto coding capability for both CPT as well as the ICD-10 transition from paper and electronic reports.

What Makes OSP Lab's Speciality Billing Solution Best for Your Need?

OSP Labs specialty billing software services help reduce the time spent on multiple healthcare specialty billing without relinquishing optimized reimbursement rates and maximized revenue.

Simplify and automate the diverse aspects of billing for different and unfamiliar specialties.
Have a steady cash inflow at a faster pace with our full multi-specialty EHR and billing software solutions.
Gain access to our multi-specialty billing services to reduce your health billing processing costs outstandingly and save revenue.
Reduce the payment denials rate with our completely verified and highly-accurate billing documents and coding.
Address any unresolved or pending claims and ensure the hassle-free retrieval of all the vital documents.
Gain direct access to your EMR, ADT, and other systems to download demographics and clinical reimbursement information.
Gain access to faster reimbursements with accurate and hassle-free processing and submission of claims.
Save a significant amount of infrastructure related expenses by automating the multi-specialty billing process.

Healthcare Specialty Billing Services


Customized Billing Management

  • Optimized billing workflows using automation technology 
  • Ensure flexibility of the billing processes
  • Provide interactive billing portals and securely store billing information
  • Leverage the benefits of automated coding
  • Increase efficiency in claims submissions and claims scrubbing

Customized Denial and A/R Management 

  • Track claims denials and identify the patterns 
  • Automate verification and checking of billing documents and coding to minimize denials
  • Leverage timely follow-ups on ARs to speed up the reimbursement process 
  • Increase the accuracy of claims resubmissions 
  • Simplify and automate workflows related to denied and delayed claims

Business Intelligent Reporting

  • Offer seamless access to billing organizations on operational and financial analytics
  • Harness data from multiple sources and EHR to gain actionable insights
  • Identify areas of improvement to enhance reimbursements
  • Collection of data through advanced KPI monitoring system and automated report distribution
  • Improve business efficiency and boost the revenue cycle of specialty groups

Solutions We Offer

Frequently Asked Questions

Specialty in medical billing is the specific billing and coding process that requires knowledge and expertise in the specialty healthcare area. Specialty areas include cardiology, neurology, oncology, and so on. These specialty care areas have specific medical codes, reimbursement policies and protocols, and documentation needs, which can be effectively done only by a medical billing specialist to avoid errors and navigate complexities.

The specialty in medical billing is quite diverse, with different medical specialties in healthcare. At present, there are over 40 medical specialties with billing and coding. Some common medical specialties are cardiology, neurology, orthopedics, gastroenterology, psychiatry, radiology, and so on. Over time, the number of medical specialties in billing keeps changing, or the existing ones evolve, which changes the codes and policies. 

A medical billing and coding specialist assigns ICT codes to diagnoses, treatments, and procedures. The biller or coder examines the medical records and reports to assign these codes. Besides, this specialist is also responsible for preparing and submitting claims to payer organizations to get practices reimbursed. To do the coding and billing job accurately, the professional must thoroughly know medical terminology, anatomy, and physiology. This coding and billing specialist also plays a crucial role in maintaining the revenue cycle of healthcare companies.

Specialty healthcare billing services are billing solutions that cater to specific medical specialties only. Billing services for these medical specialties require knowledge and expertise to cater to the specific requirements of that Specialty. Some of the most popular specialty billing services are cardiology, neurology, radiology, and physical therapy billing services. These specialty billing services must comply with specific coding and billing requirements, rules, and documentation. Only with accurate coding can providers get reimbursed faster.

Ensuring some of the best practices in specialty billing can Maximize Revenue. Here are some tips to ensure streamlined billing and maximum Revenue. They are establishing a clear collection process by ensuring clear terms, accurate patient information, address verification, reminders about co-payments, upfront collections, and so on. These processes might change accordingly as per specialty requirements.   

Proper claims management and accurate coding with up-to-date information about the services rendered are crucial to check. Also, keep an eye out for coding errors to avoid upcoding or under-coding. It’s important to be prompt in handling denied or rejected claims. Immediately checking the denied and rejected claims and identifying the patterns of errors can help billers completely prevent denials.    

Other ways to maximize Revenue and ensure optimum efficiency in specialty billing are tracking pending ARs, staying informed about changing regulations, identifying problem accounts, and more.

The primary benefits of specialty billing are increased reimbursements, enhanced accuracy, streamlined processes, improved compliance, better patient care, and optimum data management. With specialty billing solutions, providers’ cash flows increase significantly owing to patient information and coding accuracy. Moreover, streamlined processes automate the claims submission process, and compliance with complex regulations reduces the risk of denied claims and audits. And with reduced administrative burden, staff can focus on patient care. Also, improved data management provides valuable insights into patient demographics and financial performance.

The risks involved in specialty billing are complex regulatory requirements, increased occurrence of errors, upcoding, auditing and monitoring, and misuse of modifiers. While the complex regulatory requirements in specialty billing keep changing, navigating these changes and filing claims is difficult. Without complete knowledge of these regulations, providers are at risk of financial loss and penalties. Besides, the coding errors and inaccuracies in data entry often result in claims denials and delays. Upcoding is also a potential risk, as submitting a claim with an extensive medical code without services being rendered accordingly can result in severe consequences. Other risks, such as misuse of modifiers, are also quite common in specialty billing. 

Specialty billing solutions follow a streamlined process to reimburse the providers effectively. It begins with patient information collection and verification. Once the verification is done, the specialty billing solution automatically generates and feeds codes and prepares documentation. Then the claims form is submitted to the payer. The software also processes the claims to ensure accuracy and compliance with regulations. Specialty billing solutions also post payments received from payers and manage ARs to ensure timely payments. These solutions also provide reporting and analytics to identify patterns and make informed decisions. Lastly, it also consistently monitors and ensures compliance with regulations.

Specialty billing helps patients in multiple ways. It offers improved access to care and better quality of care by streamlining the billing process and reducing staff’s administrative burden. It also reduces out-of-pocket costs through appropriate billing and ensures better transparency. Specialty billing services also help patients by offering better data management and ensuring better compliance with regulatory requirements. Lastly, it helps the patient improve their overall care experience too.

Specialty billing also benefits healthcare providers in a myriad of ways. Some common benefits healthcare providers get from specialty billing solutions are increased reimbursements, enhanced accuracy, streamlined workflows, better compliance, consistent cash flow, improved patient care, and competitive advantage. With these benefits of specialty billing, healthcare providers can boost efficiency, facilitate financial growth and achieve revenue goals.

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