Partnering with a reliable medical billing company can have a dramatic effect on the efficiency and financial security of your practice. To make an informed decision, here are some pertinent questions to ask a potential medical billing service:
1. Experience and Expertise:
For how long has your company provided medical billing services? Can you provide examples of healthcare providers you have worked with who specialize or have similar sizes/specialty practices as the ones in question?
2. Services Offered:
(e.g., claim submission, coding and denial management) mes Whether or not you provide comprehensive revenue cycle management solutions is also relevant here.
3. Technology and Software:
Its What medical billing software do you utilize? Is your software compliant with industry regulations and standards?
4. Data Security and Compliance:
How are you assuring the security and privacy of patient data? Are you HIPAA compliant?
Can your services be tailored to meet our practice’s individual requirements? And can they adapt with changes in our practice’s needs as they arise?
6. Integration With EHR/EMR Systems:
How well have your billing services integrated with our electronic health records (EHR) or electronic medical records (EMR) systems?
7. Credentialing and Contracts:
Can you help with credentialing providers for insurance company contracts and negotiate contracts to maximize reimbursement? * * ** How Can We Optimize Contracts* Whilst contracts need to provide maximum reimbursement potential
8. Key Performance Indicators (KPIs):
What performance metrics are being tracked, and at what frequency they are being reported on? To what extent is there transparency and accountability associated with meeting KPIs?
9. Claims Management
How will you handle denied or rejected claims and what’s your strategy for resolving claim issues?
10. Communicating With Patients:
How are patient billing inquiries and concerns managed? Can you give examples of how effective communication has increased patient satisfaction?
11. Cost Structure: By far one of the most frequently asked questions at an employment agency is this one – what pricing model are you using – flat fee vs percentage of collections etc – any hidden or additional costs we should be aware of?
12. References and Testimonials:*
Are references available from current clients? Do any success stories or testimonials demonstrate your expertise?
13. Transition Process: (PDF, 554kB) When we switch over from our current billing system to your services, what will the transition look like and when can it take place? Also included here: the estimated timeline and timelines associated with implementation processes?
14. **Training and Support** Do you offer training to our staff on using your billing software? How will you provide ongoing support if there are any issues that arise?
15. **Continuing Education** Do you know how to keep up-to-date with changes to medical billing codes, regulations and industry trends?
Selecting an effective medical billing company requires conducting extensive research. By asking specific questions and carefully considering their responses, you’ll be better equipped to make an informed choice that can positively affect both financial health and overall operations of your practice.