7 Things to look for in a Medical Billing Company

Medical billing is a very important part of a practice. We are not here to tell you that anyone can do it. All ASC’s, surgeons, and physicians must choose this person or company carefully because your practice depends on it.

FACT: A Medical Billing company can make or break an offices income.

Before you can choose a billing person you need to decide what your needs are. Do you prefer to outsource or have an in office Medical Biller?   If you have never outsourced your medical billing then consider speaking to other physicians and ask about their experiences.

7 Things to look for in a Medical Billing Company

1. Ask about how they work to streamline the billing process with other physicians and how the coding works. --While coding ultimately should be the responsibility of the physician, a good medical billing company should be knowledgeable about coding issues and be able to spot possible errors, and advise on the best practices.
   
   
2. Ask questions like, How will you follow up on claims? What type of appeal system do you have in place? --The medical billing company should know that the follow up is a very important task and that appeals must be done. Keep in mind that not all medical billing companies do appeals or the follow up on appeals.
   
   
3. If they are going to put all of your information into the software they are using, ask what type of reports you will receive for your practice? How frequently (Monthly, quarterly, annually, etc.)?  Are they flexible on how often you need your reports?  --Some medical billing companies post accounts receivable/payable; but, it is recommended that posting payments and adjustments be made in office and not by the medical billing company.  This allows you to closely monitor your collection percentages.
    
   
4. Find out if they are they up-to-date on their coding books for the current year or what kind of coding software do they use? --If your Medical Biller is using out of date books or software, they may not be able to best advise Doctors on recent code changes which may be more discriptive.
   
   
5. What are their collection practices and procedures?  --For example; Ask do they provide soft collections?  Do they alert you and take action on accounts needing extra attention? Finally, ask how they will inform you of problems with claims or requested information by the carrier.
   
   
6. What are their hours of operation and can they return your call within 24 hours.  --Not all companies have set office hours and are available to return your call within a timely manner.
   
   
7. What are their fees?  --If it is based on a percent, will it be on total charges billed or what you are actually paid? Do they have a startup fee and is this a one time fee?  Is their agreement with you based on a month to month or long term?