If you are a medical provider considering outsourcing your billing, there are a few things you should consider. Choosing a medical billing and coding specialist can be hard to do because it may seem like you are relinquishing control over the most important aspect of your practice. Here are a few tips to help you make the right decision.
Communication and transparency are the key to any successful relationship between a healthcare provider and their billing company. Make sure the medical billing company you are considering has a policy of communication that is satisfactory to you. Some things to ask: what type of reports
do they run and how often are they provided? How do they work your denials? Establish your preferred method of contact, whether by phone, email, etc. How does the medical billing specialist file their claims? Do they run software on their computer or use an internet based service?
Make sure the physician billing service does not make any changes to ICD-9, CPT, or HCPS codes without your consent. Your billing company can be helpful in finding mistakes in your coding or billing, but should only make changes after getting approval from you. This prevents any liability issues down the road. Ask the billing service if they provide any physician education or feedback on insurance billing issues. Some may charge for this information, but most may be happy to offer it as part of the service.
Who posts payments? Some healthcare providers may choose to keep this portion of their front office operations in-house. To begin with there will be an overlap as you transition posting payments from your books to the billing company’s. Some patient balances may not match due to the information provided to your billing service For example, maybe a patient has a credit on your books but the medical billing company you are using is not made aware of this, creating two different balances. This can be prevented by providing as much information upfront as possible.
One easy way to feel a sense of retaining control as well as being able to manage transition issues is to use a medical billing service that files claims through a web-based practice management system. Those that do use an internet based system are more transparent as they allow you to see what is happening in real-time from any computer.
Try to find a service that bills on a contingency fee. Some states may prohibit this, but it is the preferred method of billing. A set dollar amount per claim may make it easier to judge your cost each month. However a contingency fee, or percentage of the paid claim, offers distinct advantages. One, you only pay when you are paid. Two, there is more incentive for the billing service to work collections and denials. Three, it helps you control costs, especially since insurance allowables on some procedures can be very low.
Finally, try to find a billing specialist that is a partner in your success. Are they able to help you prepare and inform you of notable changes in insurance billing policies? Good medical billing consultants are ones that are an advocate for your success.
Author: ArtEntertain
Source: http://articlicious.com
