In the fast-paced and complex world of emergency medical services (EMS), optimizing revenue flow is essential for the sustainability and success of organizations. Efficient billing processes, streamlined workflows and effective collections are crucial to maximize revenue generation.
AIM EMS Software & Services, based in Slippery Rock, Pennsylvania, offers the best of both options by providing both EMS billing software and billing services, depending on users’ needs. Which is a better route for your operation? Here are some considerations for EMS agencies in choosing the best option for their organization.
WHY FINANCIAL STABILITY MATTERS TO EMS
EMS organizations face unique financial challenges due to the disparity between the costs of running their operations and the reimbursements they receive. They are often reimbursed below cost, according to Michelle Corey, vice president of operations at AIM.
Maximizing revenue flow is vital to minimize this gap and ensure the financial viability of EMS services. Organizations can reduce claim denials, improve their cash flow and optimize revenue generation by effectively managing the billing process. This financial stability enables them to invest in advanced equipment and training and provide better patient care.
AIM’s billing software offers a range of features that simplify operations, enhance workflows and boost collections for EMS organizations, adds Corey.
AIM understands that different providers have varying workflows. Its software allows customization, allowing agencies to tailor its function to their specific needs. This flexibility ensures a seamless integration of the software into existing processes.
“Smaller providers with fewer calls and staff assign workflows much differently than providers with larger call volume and staffing,” said Corey. “The AIM system features allow you to customize workflows to meet your needs.”
AIM’s software provides new dashboards and report-building capabilities, empowering users to access the data they need quickly and easily. The reporting features are designed to be user-friendly, requiring minimal training to extract crucial information.
“You don’t need a course in report building or business intelligent design to work with our reporting features,” said Corey. “You can get the details you need quickly and easily with little to no training on how to do it.”
Another unique feature of AIM’s software is that it was developed by billers and for billers, explained Leigh Fulmer, a billing specialist at AIM.
“It incorporates features such as bill hold processes for deductible exhaustion, built-in eligibility verification, efficient routing for internal and external communication, automatic reconciliation processing, a streamlined payment plan set-up and intelligent carryover of payer information,” she said.
These features save billers time and simplify the billing workflow.
Having billers such as Fulmer on staff is also instrumental to the company’s success, notes Corey. “She knows EMS billing as well as what it takes to get a bill out the door and get reimbursed,” Corey said. “Having that knowledge in-house has helped our technical team understand what features are important to an EMS billing software.”
It’s not just Fulmer: AIM has more than 40 employees with that level of experience who at any time can let its technical team know about helpful features to add to the system or what simple changes can save a biller’s time.
But “we don’t solely rely on these suggestions,” says Corey. “We are big on customer success, and our customer success department handles our customers’ suggestions seriously.”
DO IT YOURSELF OR OUTSOURCE?
While AIM can cover an agency’s needs either way, it may be hard for EMS leaders to determine whether it’s better for their organization to manage their EMS billing in-house or outsource it. Consider these pros to both approaches:
Pros of outsourcing
- More time for patient care: Outsourcing billing allows EMS providers and organizations to focus on their core competency of providing quality patient care, as AIM handles the billing operations.
- Increased accuracy and compliance: AIM’s expertise ensures accurate billing and compliance with ever-changing regulations, reducing the risk of errors and potential penalties.
- Revenue optimization: Outsourcing to AIM can maximize an agency’s returns through the company’s efficient billing processes and expertise in reimbursement optimization.
- Improved transparency: AIM provides transparency by offering access to real-time reporting and analytics, enabling organizations to track their financial performance effectively.
- Lower margin for error: By leveraging its specialized expertise in EMS billing, organizations can minimize the margin for billing errors, claim denials and payment delays.
Pros of managing your own
- Direct control over revenue cycle management (RCM): With outsourcing, organizations relinquish direct control over the RCM process. Some may prefer to keep that responsibility in house.
- Financial savings: Outsourcing billing introduces additional costs, which organizations must evaluate against the potential benefits.
WHAT’S RIGHT FOR YOU?
For new chiefs or billing managers needing help with the best approach for their organization, it is crucial to work with a vendor who understands EMS operations comprehensively.
“The ideal vendor should not only possess technical expertise but also ask insightful questions to understand the organization’s operational strengths and weaknesses,” said Corey.
AIM EMS Software & Services ensures a seamless transition for organizations looking to change their billing approach. The transition is swift and straightforward if an organization already uses AIM’s billing software. For those using other billing software, AIM works to complete the transition within 60 to 90 days, accommodating any existing backlogs. This seamless transition ensures minimal disruption to operations and a smooth shift to AIM’s billing services.
By focusing on the organization’s specific needs, a vendor such as AIM can provide a tailored solution that maximizes efficiency and revenue flow.
MAKE AN INFORMED DECISION
In the challenging landscape of EMS, optimizing revenue flow is vital for organizations’ financial sustainability and growth. AIM EMS Software & Services offers a comprehensive solution, providing both EMS billing software and billing services.
With customizable workflows, intuitive reporting features and biller-centric attributes, AIM’s EMS billing software simplifies operations, improves workflows and enhances collections for EMS organizations. Conversely, outsourcing billing to AIM can offer increased accuracy, revenue optimization and more time for patient care.
By considering the unique needs of their organization and working with a vendor like AIM, EMS agencies can make an informed decision that drives financial success while maintaining a focus on delivering high-quality patient care.
For more information, visit AIM EMS Software & Services.