25 Mar How to Select a Medical Billing Vendor
It is tough for a healthcare group to choose an appropriate and suitable vendor among the many competing in the industry today. However, it is first important for healthcare providers to decide which vendor is best suited for billing their services. Here are some important things to look for when selecting a medical billing vendor.
Use of Electronic Health Records and Billing
Electronic health records must encompass the element of medical billing. This means the billing company can access documentation at will to make sure all claims are coded appropriately. The provider also will have access to billing reports 24/7.
Level of Services
Healthcare providers should look at the level of services a vendor is providing. Before choosing this vendor, it is helpful to review full and complete practice workflows, which start from the initial patient visit to the electronic medical billing. The billing may be confined to just a couple of options, such as follow-up to claims, and it may lack the necessary steps to processing the complete claim.
Compare the Different Models of Billing
Vendors provide different models of billing. The healthcare facility should compare these models and decide which one best suits their practice’s needs and requirements. The billing may have a direct, aggressive approach, or it could be passive and defensive. These are considerations of the provider when choosing a vendor.
One of the most important traits of a biller is the ability to compile and prepare operational reports. These electronic billing service reports will show the total claims submitted, which ones were paid, and which ones were denied or rejected. These reports will allow the provider to see the overall billing process.
Never choose a vendor based on their quote alone. You need to see if they have an efficient system that ensures adequate reimbursement. The medical billing vendor should have a good reputation. In addition, look for a 10% or greater improvement in quality and efficiency, to ensure an increased inflow of revenue.
Scope of Services
Does the vendor offer comprehensive services, or is their scope limited? The system they use should take care of appointment scheduling, SOAP notes, medical records maintenance, and medical billing. In addition, the medical billing company should offer a detailed reporting system that involves data aggregation and analysis.
The medical billing vendor should be familiar with many types of billing and office management software. Inquire about technology in use, and if or not the billing company has a computer system that is compatible with yours. In addition, you should ask if their technology is HIPAA compliant.
Choose a medical billing service who has years of experience in your specialty. This is important to ensure adequate reimbursement. You don’t have time to lose money. Before hiring a company, be sure they understand your business.
Good Customer Service
Before signing up with a medical billing vendor, make sure they offer good customer service. When a patient receives a bill, you need to have a go-to person who can answer their questions in a friendly manner. The billing company must be accessible via telephone and should return patient calls within 2 hours.
MPMR fits the bill on all of these qualities. They work with medical practices nationwide to assist in top notch revenue management along with operational efficiencies. Call us today for a complimentary consultation!