What is a true statement about using practice management software in a practice's claims management process?

Using practice management software in a practice's claims management process significantly enhances the efficiency of tracking and reporting daily transactions. This type of software integrates various features that streamline the claims process, allowing for quicker submissions and real-time updates on the status of claims. By automating many tasks involved in claims management, such as billing, payment posting, and denial handling, the software reduces the chances of errors that can arise from manual processes.

Moreover, practice management software often includes reporting tools that provide insights into revenue cycles and workflow efficiencies. These capabilities enable practices to analyze trends, assess performance metrics, and make informed decisions to optimize their financial operations.

In contrast, the other options suggest outcomes that are not aligned with the primary benefits associated with practice management software. Complicating the tracking of transactions undermines the goal of efficiency, tracking only payments limits the software's capability to the payments aspect rather than encompassing the entire claims lifecycle, and while it does reduce manual entry, it doesn't completely eliminate it, particularly in cases where unique data may still need to be entered. Thus, the correct statement reflects the comprehensive advantages of using such software in the claims management process.