If you run or manage a medical practice, you likely know that choosing the right medical biller for your practice is one of the most crucial decisions you will make. Did you know that there are a large number of providers claiming to offer the best medical billing services? This is why it is usually difficult and challenging for many healthcare providers in the US to choose the most suitable billing company for their organizations.
There is no doubt that choosing a vendor in order to get the best medical billing services is not a simple task. As a healthcare provider, you have to ask billing companies all the right and pertinent questions on systems and billing services rendered. This will make it much easier and quicker for you to choose the best medical billing services for your practice or clinic.
You will be happy to know that outsourcing medical billing services come with several advantages for your medical practice. As a medical organization, you need efficient and cost-effective ways to collect your hard-earned revenue and grow your business.
Are you considering outsourced billing services for your medical practice? If yes, you should know what to look for before you decide on a specific solution. It is worth noting that for many practices that have never used a medical billing company in the past, the notion of handing over everything to an outside source may seem intimidating. However, note that it is often a problem of perception.
As a healthcare provider, you should ensure that the medical billing services you choose are compatible with your business model in order to avoid issues and problems in the future.
Here are some things that you should look for when choosing a medical billing service and the right questions to ask in order to determine if they are the best choice.
Tips for Choosing the Best Medical Billing Services
Look for Relevant Experience
There is no doubt that this is one of the most important and relevant questions to ask before you hire a medical billing company for your practice. How long has the company been in business? Did their billing clients have satisfactory experience? What type of services they offer? These are some important questions that you should raise.
Did you know that medical billing services vary widely? This depends on the medical specialty one is billing for. Also, it is worth noting that many excellent billing providers will just not have anybody on hand who will bill for the medical specialties that you work in. It is important to ask specific questions regarding specialties and sub-specialties that the company has experience with and the number of people on their staff that are trained in the specialty that you require.
In most cases, it is best to look for billing companies that have been in the industry for a considerable period of time. This is because it indicates that they have determined a successful and effective way to keep their clients satisfied.
Consider Medical Billing Technology and Software
Did you know that some billing providers still prefer to compile, store patient data, and communicate using conventional methods, like manual data submission and obsolete fax technology? Note that this is considerably different when compared to billing companies that leverage cloud-based software for things like revenue cycle management.
If you are currently using the software internally for financial data, patient accounts, and many other back-office tasks, then it is important to look into billing providers that use software that is fully compatible with the software that you are using. Also, it is worth noting that technology infrastructure is important to accomplishing and achieving results quickly.
However, keep in mind that the ideal software platform for the job might not be available with every medical billing company. Are you specific about handling your bills via specialized medical billing software? If yes, you should communicate this important need in advance and get confirmation from the medical billing company.
So, as a medical provider, you should question the billing software that the billing company is using and whether it fits your expectations, needs, and requirements.
Choose a Responsive and Agile Billing Company
It is no secret that an excellent medical billing provider takes premium measures in order to keep its clients returning for repeat business by offering the best medical billing services. Note that speed, responsiveness, and availability are some of the top factors that you should look for as a healthcare provider.
You have to earn more revenue without inconveniencing your patients. This is why your billing partner must have the capabilities to swiftly respond to any concerns both during and after the service.
Consider Costs in Advance
Did you know that cost breakdowns can provide you with a clear comparison, ensuring you get the best deal? While outsourcing your medical billing to a reputable company is almost guaranteed to boost your profits, you must ask the company for a detailed cost breakdown, preferably in advance.
You should know that many billing companies in the US charge a percentage. Other companies charge a flat fee. Taking this into account, you should consider your current patient load and then try to obtain a rough estimate so that you can know and understand what to expect.
You may know that in the past, one of the main disadvantages of outsourcing medical billing was that important financial information wasn’t immediately available to most healthcare providers. Note that after outsourcing billing services, healthcare providers had no choice except to rely on periodic reports to gauge financial performance.
There is no doubt that this made it quite difficult and challenging for healthcare providers in the country to identify billing issues and make any changes and updates in real-time. This is why a different and better approach to manage a healthcare practice’s medical billing was required.
Now you can and should check the transparency and integrity of the billing company. At present, one of the best ways to promote transparency is to hire a medical billing firm with HIPAA-compliant cloud-based applications. This can also help overcome the limitations of conventional billing.
Verify if the Billing Firm is HIPAA Compliant
If you would like to safeguard your interest, you should work with an ISO-certified billing company that is HIPAA (Health Insurance Portability and Accountability Act) compliant. There are many reasons for this.
For example, it will give you peace of mind, fully knowing that your billing company’s practices and procedures are compliant with all the HIPAA laws and specifications. Also, they will not be involved in the mismanagement of sensitive and confidential patient data.
Benefits of Choosing the Best Medical Billing Services
Focus on Patients
It is no secret that handling medical billing and medical coding while juggling patient care and other administrative responsibilities is not an easy task. By choosing a medical billing solution, you can take the issues, complications, and frustrations of billing off your shoulders. Note that this will allow you to focus on your patients.
So, trust all your medical billing services to a reliable and experienced vendor with employees that are dedicated and passionate about this challenge so you can return to what you love most: treating your patients.
Note that when you outsource medical billing, your practice can save money on monthly salaries and other benefits for people who would do in-house medical billing.
You will be pleased to know that many billing companies charge flat rates that are usually less than what it would cost you to staff an employee in order to perform the same job. Also, it is worth noting that if you outsource medical billing services, you will not have to buy or maintain billing software.
Grow Your Practice
Remember that when considering medical billing companies to partner with, you should consider a company that does not only handle your medical billing alone but one that also supports your medical practice’s potential for expansion and growth.
If you have a trusted and dependable solution to handle everything from scrubbing claims and conducting eligibility checks to resubmitting denials, your medical billing partner will help ensure that you are getting every dollar that you deserve so that you may reach your maximum growth potential.
Minimize Billing Errors and Mistakes
There is no doubt that mistakes and errors are possible in even the most professional environments. Keep in mind that it is not an indictment of your staff to suggest that there could be a more efficient or better approach to handle an increase in the number of mistakes in billing.
The best thing is that by outsourcing medical billing, you can easily cut down on these mistakes. As the main job of billing companies is to get billing correct, they are certainly less likely to make billing mistakes and errors.
Note that when it comes to professional medical billing, even the most dedicated and capable employees may have difficulty staying updated with the frequent changes and expectations that often come with revenue cycle management. This is why your practice needs a medical team that can provide you with specialized expertise you can rely on.
Are you looking for the best medical billing services for your needs? U Control Billing can help! U Control Billing has several years of experience offering medical practices the best billing services that fit their practice.