Outsourcing medical billing has proven to be very successful for medical offices and institutions of all sizes. It puts the billing and management of claims in the hands of specialists and keeps the system up to date better than it is generally possible for in-house billers to do—however, choosing the best medical billing service is extremely important.
Making the selection can feel like a daunting task, but it helps to know what to look for and what questions you need to answer. To make the job easier and increase your confidence in making the move to outsource medical billing, we’ve compiled a list of questions you need to answer.
Top Questions to Ask When You Need to Find the Best Medical Billing Service
- Can you guarantee that my revenue will increase?
Unless you already have stellar claims management and high recovery rates, a good medical billing service will be able to guarantee better results than you have now.
- What kind of claims management system do you use?
In order for you to get paid what is due to you, it is important that the billing company keep track of every claim and not just go for the low hanging fruit, meaning only pursuing the high-dollar claims or those that are approved on the first submission.
- What will happen with my old AR accounts if I have you take over my billing?
Old AR is more challenging than new claims because there is already an issue with each of the claims there, but these can add up to 25% of the revenue for any given period, so must not be abandoned. Your new medical billing service should have a process for addressing them.
- Are your services customizable, or am I obligated to pay for a suite of services that I may not need?
You should never have to pay for anything that you don’t want, but some medical billing companies charge for a package of services, whether you use them all or not, so it is important to find out if you can control what you pay for.
- Who will I talk to when I have questions or concerns?
You want to be sure you don’t get stuck with a call-centre approach to customer service. There should be someone at the medical billing service that you have access to who knows your business and is familiar with your claims.
- How can you ensure that the correct codes are utilized?
The medical billing service should have a system that includes software that is constantly being updated but must also have experienced billers and management that is knowledgeable about new regulations and trends among payers.
- How will my account be managed?
There should be an account manager who is an experienced biller in charge of your account, regardless of the number of billers who work on it. That way there is someone you can contact who is knowledgeable about your claims and familiar with handling any issues that are common for billing in your field of medicine.
- How many billers are on your staff?
The size of the billing staff is important because there need to be enough people available to keep your claims processing steady. A small billing provider will have the same issues that in-house billing departments encounter. When one person is sick or leaves their job, the whole system goes on hold.
- How can I tell if your system is working?
The medical billing service should provide reports that show how your revenue and accounts receivable are changing. Overall, revenue should be increasing and the average time it takes to get paid should be getting shorter.
- What kind of information will I receive from you?
You should be able to get reports that clearly present the information above as well as the number of claims being processed, percent that is paid, etc. These should be available as often as you would like them, so you can choose to review your billing weekly, monthly or quarterly.
- Do you have evidence of success with other clients?
The best medical billing services will have happy clients who are willing to share their stories. Testimonials with names attached and case studies are excellent resources for getting factual information about how successful the medical billing company is.
Medcare MSO is proud to be able to offer almost a decade of providing medical billing and revenue cycle management (RCM) services. We have a large staff of billers with experience in over 40 different fields of medicine. Contact us today at 800-640-6409 and let us show you how our innovative approach to medical billing can increase your revenue and free you up from day to day billing demands.