Thinking about how to reduce administrative costs, ensure an uninterrupted cash flow, increase your bottom line, and most importantly, allow you to focus on your patients? Then hiring a skilled medical billing service can be just the answer for your healthcare practice. But first, you have to choose the right company to work with. Following are the three most important questions you should ask before choosing your medical billing service company.
How much does your service cost?
This is more than likely the first question on your mind when choosing a medical billing service.
- Will your monthly bill be based on a flat rate or a percentage of charges collected? Because medical billing services should help you to increase collections, the percentage option is a good one as it aligns the service’s incentives with your practice’s goals.
- Are there additional fees? On top of the monthly cost, billing services may charge additional fees for initiation, termination, or data conversion. It’s important to factor in these extra costs when you are comparing billing service costs.
- What services are included? Medical billing services aren’t always equal, and a less costly service may be a less comprehensive service. Find out exactly what kind of billing assistance is included, and ask about different packages that may be available to determine which one best suits your healthcare practices’ needs.
How will my account be handled?
There are a few things to consider with respect to how a medical billing service will work with you, such as patient data security to reporting frequency.
- What kind of reporting can you expect: Outsourcing a major function of your practice can be very stressful if you’re not kept in the loop. Ask about the frequency of reports, and what each report will include. Knowing what kind of information you can expect to receive on an ongoing basis and what you can request can help you choose which service you will be most comfortable working with.
- Who will actually be handling your account, and what happens when the person is out of the office? Because medical billing is time sensitive, you want to make sure that you’re covered, preventing unwanted surprises for your practice.
- What billing software does the medical billing service use?
- Is the medical billing company HIPAA compliant? The HIPAA law dictates that all covered entities (providers) and any companies you contract adhere to regulations. Everyone who handles protected health information is responsible for ensuring that patient data remains private and is kept and transmitted securely, and committing to breach notification practices. Ask about the medical billing service’s HIPAA compliance plan. What measures do they take to keep your data safe?
What qualifications do your service and staff have?
Is the billing service professional and good at what they do? When you ask about qualifications, be sure to cover the following:
- Professional and skilled medical billing involves in-depth knowledge of medical codes and experience working with patients and doctors, and it is very helpful to work with a company that understands the conditions and procedures in your field, and can use this expertise to help you maximize collections.
- Ask for references, which can give you an idea of what other providers’ staff and patient experiences were like.
If you have any questions, please feel free to contact RevPro Healthcare Solutions below or call us at 561-578-8400.