Healthcare providers can focus on medical treatment if they choose a best medical billing company to outsource their billing. Outsourcing your medical billing can be very beneficial for practices to outsource their billing, so Healthcare providers can save money and leave back-office tasks to experts in insurance claims and billing.
Among the various options in medical billing company around the world, how can healthcare providers pick the best medical billing company? A few important questions need answers before outsourcing your billing and coding services. How to evaluate medical billing services? What are their qualification to undertake the task? Below are some tips which helps you further.
Tips for best medical billing company
Identify practice needs based on your practice scale
Before choosing the best billing company one must understand the scale of your practice’s needs because some are more equipped to handle large medical practices with many physicians that accept many different forms of insurance. While some are specialize in smaller practices with few insurance carriers, lower budgets, and few physicians.
Analyze the past experience
Certain medical billing companies will be better fits for certain practices for example- some medical billers are focused and have expertise in that specialty. While others will have credentials in several areas of specialty, and work with a variety of practices. Hence it is necessary to analyze various questions such as how long have they been in business? Specialty experience? Did their clients have satisfactory experience? Etc.
All these questions are answered by looking at the past experience. If the company has a presence for a long time in the market then it indicates that they have found a successful way to keep clients satisfied.
Proficiency of ICD-10
Error-less coding helps to reduce claim denials hence experts must have adeptness in the latest version of International Classification of Disease code. Proficiency of ICD-10 enables many benefits that help you save time and money.
Request to Disclose the Staff Size
For large-sized projects of various specialties the staff size matters a lot. Availability of large number of knowledge workers and experts in a variety of medical billing tasks helps to deal with a sudden increase in billing at non-peak times.
Ask for cost structure
It is necessary that you should think about what exactly you’re paying for each service. There are various ways in which medical billing company will charge .for example percentage of your revenue, flat fee, and flat fee plus a small percentage of revenue.
You can also ask for how they charge for service? Are there hidden charges? If discounts can be availed for outsourcing a large volume of billing requirements? Answers to these can help you choose a billing company which offers reliable services that fit your budget.
Assure the company is compliant
Healthcare industry is highly regulated hence all healthcare practices need to strictly abide by compliance rules and regulations. While choosing medical billing company you should make sure to find out how they follow compliance rules. Moreover, you should also ask them to provide you with a list of compliance procedures they take as a company, as well as how they ensure each employee is following rules and regulations.
Assess the available technology infrastructure in your practice
Quick and accurate results are obtained with the help of software however, there might be no software available for your type of job hence if you are specific about handling your bills through a specialized medical billing software then it should be communicated to a billing company in advance.
Support for claim denials
When deciding on the best medical billing company, be sure to ask them how they handle rejected claims and ask the company to what extent they can offer support in the event of claims denial. If the company that has denial management team then it is easier for physician to get the money via re-submission of claims.
Quick Response for service
Speed and availability are important for most healthcare hence billing partner should have capabilities to quickly respond to any concerns during and after the service. Quick response and accurate improves customer delight and satisfaction.
Are you looking for the best medical billing company? We are a team of experts who handle all medical billing and coding to ensure you get your claims on time.