Let’s start with a simple question, Why do you need to Outsource Medical Billing? Take a minute to think about it. If any of the below answers appeal then this blog will help you to implement this strategy into your practice.
- Increase Collection for your practice.
- Your In-house billing was incompetent.
For physicians and healthcare managers the medical billing thus far is the most mystical process in the healthcare reimbursement system.
Let’s demystify the process for you in simple terms.
- Is Service Guarantee Important?
Billing service is important for any physicians when you go hunting for Outsourced Medical Billing, they will share key statistics related to AR and collection. For example, days claim to stay in AR for your specialty and percentage of claims turned over to a collection agency.
It’s important for you to understand the facts of the billing company from the point of the insurance company they might transfer charges to a collection to make their AR days look better.
Before you start discussing the charges on billing service try to accommodate some guarantee billing service.
- Will specialty matter for you?
It’s an easy aspect for you to know that coder who understands your specialty will be able to work with more productivity and will generate fewer errors than a coder who is an infant. The longer the coders have worked for your practice the better they will be for your billing. Understanding the specialty jargon, anatomy and internal working is invaluable for your practice.
Look for a billing company that has handled your specialty will help you to get your reimbursement on the right track.
- Need for coding knowledge
The inclusion of ICD-10 coding was an important step more than 67,000 codes are inducted into the billing system. As diagnoses, procedures, and prescriptions each one of them has different codes the technical know-how about how the coding and billing system will systemize your business. Though it’s the responsibility of the coder to translate the images into correct codes.
The above three-factor will demystify while selecting a outsource medical billing company for your practice.
MedicalBillersandCoders.com a medical billing company with a team of expert billers and coders. The team has more than 16 years of experience striving towards performing some of the best coding and billing practices in billing.
An outsourced billing company will be more focused on billing collections. With low error ratio and less than 30 days period for account receivable. The company will be able to track the factors affecting your billing like coding, payer mixes, and the aging of receivables.