General Health

6 Questions to Ask Your Medical Billing Service

Hiring a medical billing service can streamline your services and result in more profits in the long run. You’ll need a reputable revenue cycle management firm that can meet your needs without changing everything to accommodate them. Asking questions can help you find the right services for your operations. Here are six questions to ask your medical biller before committing to any contracts:

1.     How Much Will It Cost?

Cost and quality are the two aspects to review when looking for a medical biller. Most medical billers have a fixed rate charged on collected charges. You’ll  encounter medical billers with a flat fee.

Determining how much the service will cost can help you plan and guarantee profitability. You should ask about the startup and termination fees, data conversion, and other expenses. Billers may charge extra for specific services like patient collections and follow-up.

2.     What Billing Services Do You Provide?

Medical billing involves various services customized to your business operations. Popular services include follow-up on low-ticket claims, account receivables, generating and sending patient statements, resubmitting denied claims, and reporting contract issues.

You should ask the medical biller what’s included in the service to know precisely what you are paying for. Some services may be excluded from low-priced companies, which means you’ll pay more to have them. Asking questions allows you to include all necessary services.

3.     Can The Biller Provide References?

A medical biller with experience working with similar companies is the ideal choice. Certification and accreditation help filter illegitimate businesses, but you still need experienced professionals. The goal is to leverage their experience and maximize the outcome.

You should ask the medical billing company how long they’ve been operating and how experienced their billers are. Make sure you choose billers with experience billing for similar businesses. You can ask for references to get more information from past and current clients.

4.     Is Your System Compatible With Mine?

Practitioners with some experience in the market probably have existing billing systems. Some may need an overhaul, while others are fine tweaking a few aspects. You should ask the medical biller whether or not their system will be compatible with what you currently have.

For most practitioners, adjusting everything to accommodate a new medical biller isn’t the best choice. A good medical billing service refines your frameworks for better efficiency, but you should prepare to be flexible. Ask about security, HIPAA compliance, assessments, and more.

5.     What Reports Will I Receive?

Reporting is an inseparable component of medical billing, and you should know the reports to expect. Ask the company what they routinely send and how it helps your business/operations. The reports allow you to assess your accounts and claims in real-time and run an internal system.

You can ask the billing company for sample reports to analyze the data and determine if it reveals enough relevant information. Make sure the report assesses the biller’s performance and includes the basics (aged account receivables, denial reports, and credit balances).

6.     How Do You Handle Claims Denial/Rejection/Failed Payments?

Denied, rejected, and unpaid claims are easy to interchange but have specific meanings and implications. A rejection could stem from a simple error, such as a transposed digit on the insurance account number. Resolving the error and resubmitting the claim can fix the issue.

Denied claims occur when the bill is processed but turned down for payment. Such situations can also arise from errors, such as duplicate billing or non-covered services. Unpaid claims refer to claims eligible for payment but overlooked or not submitted. You should ask the biller how they handle each case.

Reputable Medical Billing Service for Healthcare Practitioners

The goal of asking questions before signing any contract is to get the best services for your operations and money. Working with an experienced and reputable medical billing company gives you the upper hand and prevents you from being short-changed.

You should only settle for the best medical billing service from top-rated companies. Working with trustworthy medical billers allows you to leverage modern technology to bring efficiency to your operations. Make sure the biller is experienced in handling similar companies and has quality service guarantees.

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