What to look for or how to pick a Best Medical Billing Company?

What to look for or how to pick a Best Medical Billing Company?

Choosing a medical billing company for the billing and coding process helps healthcare providers to concentrate on medical treatment. A medical billing company like Medisys Data Solutions handles a large chunk of healthcare billing tasks. So that providers are released from the grunt work involving a variety of patient information. Finding a best medical billing company, capable of carrying out billing tasks has always been a challenge for providers.

Pick the right medical billing company for your practice

Patient Data

It is crucial to understand what happens to your data if you and billing company part ways. Will the company retain the files, or will the data transferred to your organization?

You want your account handled by billers and coders who are really know their stuff, making them highly productive and less likely to error, and you want a company that’s committed to collecting every dollar that you’ve earned. You need to ask below questions:

  • How many people will be assigned to my account?
  • How much experience do they have in my specialty?
  • How many years’ experience billing do they have?
  • How do you ensure your billers are up to date on codes and regulations?
  • What policies do you have that may affect my current processes?
  • What percentage of charges are turned over to a collection agency?
  • What are your average days in AR for my specialty?
  • What type of insurance coverage do you carry?
  • What is your process for protecting personal health information?
  • You want a company that is in methodical compliance with every federal and state law that applies to your practice

Technology

There’s a huge difference between billers doing their work traditional way (manual data entry, faxes) and those using cloud-based revenue cycle management software. With the right software, your office can be seamlessly be connected to the remote billing office, streamlining workflow and RCM processes.

You can always ask below questions to reassure about your valuable data:

  • Does your software offer an integrated EHR, or will it integrate with my EHR?
  • Do you use cloud-based billing software?
  • Are you automatically reminded of claims deadlines and denials that need to be addressed?
  • How do you handle payers that only accept paper claims?
  • What are your data backup and disaster recovery procedures?

Medical Billing Companies Pricing Models

The cost of a medical billing service depends on the provider and their pricing model. There are a few different fee structures typical of the medical billing industry. Keep in mind that these pricing models pertain to medical billing services rather than software. In other words, you are paying for a medical billing company to handle the entirety of your medical billing and revenue cycle management (RCM) process.

The most typical pricing model for medical billing services is probably “percentage of collections.” You’ll typically see medical billing services charge anywhere between 4-10% of total collections.

Choosing a vendor is never a simple task, but knowing what questions to ask makes it a lot easier.

Are You Ready to Get Billing from Best Medical Billing Company?

Want to hire an experts in Medical billing and coding for your Practice? You are at the right place, what you need now is a partner who can finish out the rest of the work and make the technology and implementation just as simple. That’s what the best medical billing company like Medisys Data Solutions Inc. can do. If you’re ready to get started, schedule a meeting with our Medical Billing Manager from filling out enquiry form from our website!

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