Here is What You Should Know to Find a Perfect Medical Billing Service
BY Sybrid MD
Medical Billing | Feb 13, 2017
Finding a Perfect Medical Billing Service
Finding a perfect medical billing service for your practice involves many subtleties. But at a stage, every practice and physician looks for such a billing service that can increase their profitability, boost their efficiency and most of all take off the cumbersome billing chore from their shoulders. However, just as every practice or specialty is not same; it is true of physician billing service providers as well. Almost all of the medical billing service providers boast of a confirm guarantee of increased returns, clean claims, improved billing processes but this is not all of it. So, let’s solve the dilemma of finding the perfect medical billing service that can cater to your unique billing needs.
Complete Revenue Cycle Management
A billing service provider should not be limited to managing the bills only, ideally, a perfect billing service must scrub claims, identify issues with the bills that are causing denials. Moreover, the service provider should check for the eligibility and verify the eligibility with the insurance companies.
No Software Dependency
Medical billing service should never be taken as software rather dependency on billing software limits the overall working. Not all software applications are designed to work with each other. This is why, a perfect billing service provider should be able to work with any software application that is preinstalled and for which the practice has already invested huge resources.
ICD and CPT Coding
The medical billing service provider should be able to put together the perfect combination of Current Procedural Terminology (CPT) and International classification of Diseases (ICD) codes. Moreover, their billing expert should be well versed in adding the right modifiers. Mostly, errors in the billing codes or modifiers become the cause of a rejected bill.
Claim Handling and Submission
After coding, the process of claim submission to insurance carriers starts. A good billing service understands the different requirements of the payers and it takes care of their unique requisitions. Claims must be submitted within a day or two after the charge entry and it is a very short time to accurately compile them and audit their authenticity. Then all the claims must be checked for accuracy of ICD and procedural codes. These audits before the submission make sure that all the required information has been properly filled and if any problem found is eliminated at this stage. Hence, a perfect medical billing service provider would minutely take care of your bills until they are clean and ready to submit.
Medical billing is an intriguing task that does not ends with the submission of the medical claims rather it involves an equal effort post submission. The billing company should follow-up for the payments and should properly handle rejections and objections on the payments. The billing experts should scrutinize the most common causes of the rejection and discuss it with the provider to devise a permanent solution for such occurrences. A medical billing service provider working with this approach is best recommended to minimize reoccurrence of billing errors and which results in augmented payments.
A perfect medical billing solution provider keeps its clients updated on the payments through periodic reports. The more efficient a billing team is, the better they would keep the practice notified about the daily, weekly and monthly status of the payments received from the payer. The physician medical billing services provider should also update about the revenue earned in a certain period of time.
Dedicated AR specialists properly follow-up for the unpaid claims and create report of the claims that remain unpaid over a certain period of time. Effective utilization of account receivable specialist can minimize the overall costs, improve collections and boosts the cash flow.
Medical billing is not simply a service; it is in fact optimization of processes that are required to manage holistically from many angles. It must also positively influence official processes as well, such as, productivity of the staff, clinical procedures, front office management etc. To achieve this, an experienced medical billing team should forward recommendations to practice on how to train their staff that can contribute to an overall productivity enhancement.
No matter how experienced is your medical billing service provider; an integrated clearing house is a must to bring perfection to your claims. Clearing house serves as a second eye to your documents, which is similar to the role of an editor after the writing. Good medical billing service providers always take prop of a clearing house to authenticate the perfection of their service.
A dedicated support team available 24/7 to handle queries of its clientele is the hallmark of a better than average billing company. Efficient customer support makes sure that the business of its client is properly managed and the support representatives are ready to handle crisis situations.
Compliance and Regulations
It is very important now for practices to stay updated on state regulations or any change in the health care law. Good medical companies keep their clients updated on any change in the law or regulations and help their clients transform the practice accordingly. The medical company should itself comply with the regulations and should showcase the certifications they have earned which would only justify their eligibility for the job they are doing.
Certified Coding and Billing Professionals
Practices should also inquire about the qualifications of the medical billing and coding staff because only a certified medical coding and billing specialist understand the details of this job. It would boost your profitability manifold, if your medical billing and coding services provider has coders in your specific specialty.
EHR and PM Competence
Your medical billing service provider should perfectly understand the use of the deployed practice management systems of your practice. The medical billing flow should be in agreement with the other software applications to make the flow smoother and perfect. Perfect medical billing service, Medical billing services, Medical billing and coding services, Medical billing solutions services, Physician medical billing services, medical billing service provider, billing service provider, medical billing solutions