Are you on the hunt for the best medical billing company? Here is a complete guide on how to choose the best service for your needs.
Last year, more than 33.3 million people received treatment from a community hospital in the United States.
With a shortage of staff and rooms, medical owners are trying to find time and money solutions. If you’re in healthcare and want to streamline processes, you can get help with time-consuming tasks.
A medical billing company can help your team focus on health concerns, rather than insurance issues. Keep reading to discover how to select the best medical billing company.
Identify Your Needs
Your billing needs will influence which types of medical billing companies would be the most beneficial.
Light-service billing companies can help you with coding, patient demographics, and authorizations. Although these services are cheap, your functions will be limited and may not offer enough front-end help.
Full-service medical billing is typically the best option. With this type of billing company, you can get access to more tech, resources, and tools. Full-service teams can help with any eligibility issues, card issuance, and check-in processes.
Although full-service teams will be a larger investment, you won’t have to hire as many office staff.
Read Reviews
If you want an honest answer to how your medical business can benefit from billing services, you need to read reviews.
Online review sites will help you discover the good, bad, and ugly of each team you’re considering. Current and previous customers leave honest feedback about how the billing company saved them money and energy.
Check the posting dates when you do your research so you don’t make decisions on outdated info. Wait to make any calls and contact companies until you look at reviews first. You may even find useful content on social media.
Compare Costs
Shopping around before hiring a medical billing company is highly recommended.
Depending on your location, you may be able to find cheaper services so that you don’t develop financial concerns. By looking at coronishealth.com, you can discover an affordable option.
It’s best to compare prices for at least 3 separate entities. Consider your budget and keep in mind that medical billing services can save you money in the long run. You can talk to a sales member for each company to discover what your plans would include and how much the overall cost will be.
Consider Specialty Billing Companies
Certain billing companies specialize in specific areas, they are also called boutique companies.
Boutique billing companies are a great option for smaller medical institutions. These companies are typically nearby and are ready to provide in-person services as needed. If your patients have low incomes or are undergoing expensive treatments, this is a suitable option.
Your patient’s circumstances will dictate which billing company to pursue. For example, if you run a chemo facility, patients may require additional assistance with billing and insurance.
Verify Certifications
Healthcare facilities have specific guidelines to abide by, otherwise, their doors will close.
If you hire a medical business for billing, you’re still held accountable for patient confidentiality. You can look online to see their business license and certifications. It’s also useful to have a conversation about the steps the company takes to ensure regulations are followed at all times.
Not only does the business need proper certification, but so will the employees. Don’t wait to ask for credentials and always pay attention to expiration dates.
In the case you come across an uncertified company, you should report them to HIPAA immediately.
Check Software Compatability
Working with a billing company will introduce changes in the workplace, including with your tech.
If you don’t have the right software, your billing system won’t work. Many business owners wait until they change internal software to get a billing system. Although you don’t have to, it can help you transfer financial info, tasks, and patient accounts.
You’ll need extra time and resources to prepare your staff for the new software and billing procedures. If you’re debating between billing companies and software, you can do trial periods to test each one out.
Identify Methods of Communication
Chats, emails, and phone calls are common, but there are other tools for communication in the medical industry.
Talking to your team and paying attention to trends will help you identify the most important methods. You need to have software and a billing company that will support whatever your team prefers.
Comment and note sections can be integrated into most platforms. Your team will have an easier time staying on the same page when they can all see the same data. Billing companies can provide you with a reliable platform to share patient info.
Ask About Declined Claims
Each billing company has a unique process for filing claims that get rejected.
Many medical billers don’t have the time to resubmit claims, which is why they never get completed. Healthcare facilities lose money when rejected claims go unnoticed. Asking about how they handle this process can help you make the final decision.
Understanding their volume of rejections can help you ensure that your patients are protected.
Select the Best Medical Billing Company
Running a medical facility on your own can be a lot of work, and hiring help can improve your processes and routines.
Finding the right medical billing company can save you time and money. Medical staff shouldn’t have to sacrifice their time to deal with insurance issues and there are reliable solutions. Medical billing companies improve patient satisfaction and make things simpler for everyone.
If you want to learn more about medical management solutions and healthcare, check out our page for the latest content!
