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Tips to select medical billing company for outsourcing

Outsourcing your medical billing can be a practical decision in economically challenging times. Choose the right medical billing service provider for getting success in managing your accounts receivable. The purpose of outsourcing is to save money and time and you need to select an experienced service provider. Medical billing services offered by a reliable medical billing company will be useful for healthcare providers. The following are some of the tips to assist you in choosing a reliable medical billing company.
 
Expert team: Medical billing company you choose must have certified AAPC coders. The staff must be up-to-date on coding initiatives in order to enhance reimbursement and prevent denials. The services offered should be comprehensive and include insurance enrollment, patient enrollment, AR follow up, insurance eligibility verification, denial analysis, claim submission, report maintenance, payment posting and much more.
Experience: It is crucial to have experience in medical billing and coding field. You need to select a medical billing service provider with successful track record and experience. The medical billing company with a reputable record and experience in the field could deliver the best medical billing services in order to augment your revenue.
 
HIPAA Compliance: The patient information is sensitive and need to be handled with care. It is essential to verify that the company you sign up is HIPAA compliant, because all the medical billing service provider need to deal with your patient's health-related information.
 
Customized monthly reports: Coding updates and timely reports are crucial. This will helps you to stay in control of medical billing and coding as well as informed about the reimbursement position and claim submission. It also includes user notes, outstanding claims, charge data, payments and follow-up information.
 
Quality assurance: You need to verify that the medical billing company has strict quality assurance measured in place. You have to pay attention to the procedure that the medical billing companies use.
 
TAT: Another significant factor to consider is Turnaround time. Getting medical billing services without delay is important, because insurers have deadlines. It is essential to check the TAT that the medical billing company can offer.
 
Advantages that the patients get: Assume that your staff may send the patient's record, insurance and diagnosis to billing of medical claims processing. The medical billing services will check for any errors in the data and claims to clearing house. When the claim is approved, they provide EOB.
 
Other things to verify include:
  • Make sure that the medical billing company does not charge hidden fees
  • Verify that the medical billing services could ensure cost savings of 30 to 40%
  • Make sure that no long-term contracts are involved
Read 1527 times Last modified on Wednesday, 14 May 2014 10:39

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