IBEX Medical Billing

Without doubt, medical billing is the single greatest pain-point for any sole practitioner. With IBEX, that’s no longer the case. By developing IBEX’s Schedule-Anywhere into a convenient and easy to use system, not only are appointments accurate but the user reaps the dividends by building on those very same appointments to generate bills and insurance claims. So, how long does it take to create a typical Medical Bill/Insurance Claim from an appointment or session? Less than 20 seconds.

First, we reduce data entry errors by customizing each installation of IBEX Desktop to include only the of procedure codes used by the provider (instead of all 9950+). Second, IBEX Desktop’s interface allows the user to ‘click-and-drag’ procedure code(s) onto an appointment. Third, ‘missed appointments’ can be billed from the schedule, billing the patient directly (in accordance with the practice’s cancellation policy) regardless of their insurance status. However, the real time saver is how IBEX calculates rates for services.

Billing Intelligence

When generating a bill/claim, IBEX Desktop identifies the patient, their insurance, applicable contracted in-network service rates, and the rate at which the patient was last charged for the service. Essentially, IBEX behaves exactly as a person would when determining a patient’s correct service rate. For example, the correct service rate for a patient with in-network insurance is the maximum contracted service rate for that particular insurance carrier. In cases where the patient is either out-of-network or Private Pay, the rate is whatever they were charged the last time that service was provided. If that same patient is receiving a service for the first time, the practice’s predefined “Default or Standard Rate” is used. To make the billing process even simpler, changing a patient’s service rate moving forward is as simple as updated the calculated rate when assigning a service to the patient’s appointment. No hassles, no setup-screens.

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Time is Money

To lighten the load, sole practitioner’s don’t even need to submit claims to insurance. Thanks to IBEX’s Edge-Computing architecture (that automatically synchronizes IBEX Desktop with our Back Office each time the user starts and closes the application), our Back Office submits insurance claims on behalf of the provider on the same day they are created in IBEX Desktop.

Therapists and Psychologists ❤ IBEX

The nature of a psychotherapist’s or clinical psychologist’s practice is fundamentally different than most others. Typically, the provider is a sole practitioner, they don’t have an administrative staff, patients are both in-network and Private Pay, are seen on average about once a week and in 45- and 60-minute intervals. In short, billing is demanding. Given how efficiently IBEX manages medical billing and since we don’t charge for insurance claims submissions, we make the following recommendation to our clients: Bill your Private Pay patients' out-of-network insurance first and then the balance to your patients. This is a huge value add for any practice. Not only does it reduce the patients' financial stress but it also eliminates the insurance-customer interaction necessary for them to submit their bills. The only cost to the practice is an approximate 10-day delay in receiving a direct deposit (full or partial) payment from the out-of-network carrier.