31 Jan 3 Questions you Must ask your Billing Company to Stay in Control
Whether you’re signing up with a new billing company or have an ongoing relationship with your current billing company, it is critical maintain a healthy relationship. You need to be aware of the latest industry trends, ensure your claims are processed correctly and paid on time and be aware of any changes that could affect your bottom line; in other words, stay in control.
Here are a few questions you should be asking your billing service provider regularly to ensure that your billing and claims are in perfect order.
What are the trends with my claims?
Ask regularly about your claims’ status to understand if your billing company is on track. Watching the trends is vital for ensuring efficient claims processing and billing service effectiveness. You can ask how they are tracking claims or if they are running any reports to help you track trends.
What are the industry trends?
Billing companies have access to claims for many practices, since they have many clients. This gives them a broader scope of what’s going on with different practices and payers. They can share with you the big picture of industry trends that can be leveraged to improve your bottom line.
What are the issues with respect to a specific trend?
You can ask about the issues that crop up when the billing company notices a trend. For instance, if there are many outside-the-scope denials, it may indicate missing documentation. It is important that your billing service provider is able to observe and utilize this information to improve your practice’s financial health.
In short, stay in close communication with your billing company. Ask for reports and calls so that you have a grip on your bottom line.