As a medical professional a medical billing company takes care of your revenue cycle management. Choosing to partner with a billing service can often be a long term partnership that will have a lasting impact on the financial health of your practice. Here we’ll cover the 5 most important things your medical billing company should prioritize to let you know they have your best interests in mind.
1. Secure Data And Compliance
Your medical billing company should be committed to keeping your health records and data safe at all times. If you feel you current billing company does not prioritize this, or you are considering a medical billing company that does not stress a high level of security when it comes to your data, then you should look elsewhere. Talk to your medical billing company about their email and password practices as well as their system of destroying and changing system password. One records breach could put a lot of your clients in a bad situation.
2. Provide Simple Access to Your Data
Your medical billing company should never restrict you from your own data. If you find yourself unable to run reports to measure the effectiveness of your billing service then chances are your practice is losing revenue due to poor performance.
Some medical billing providers have a system set up that limits the availability of data because they use a different system for the billing management than your practices software. While this isn’t always a bad sign it typically is an indicator that potential performance is not where it should be. This means your medical practice does not know status of your claims and revenue cycle because you are unable to see it in real time when you wish.
3. Deliver Detailed Clear Reporting
Measuring and reporting on your patient and billing data on a monthly basis is vital to the success of your business. This medical billing data tells you which areas of your medical practice is performing well and which areas maybe need some work either on your end or by your billing services team. By reviewing past performance data and patterns from simple easy to interpret medical billing reports you can set realistic expectations and develop effective ways to meet them.
If you aren’t receiving monthly reports and a comprehensive analysis of the data provided, you should be.
4. Is Your Medical Billing Company Always Working To Improve Service?
A good medical billing company will provide the minimum services required. A better medical billing company will constantly work hard towards improving their use of technology, customer service plans and upgrading the services and results they provide. Some examples of these less known medical billing services might include an improved and simpler online patient payment portal to help your practice overcome the high number deductible health plans or a patient and doctor FAQ knowledge base or hub to help your practice find answers to common questions on the go.
5. Does Your Medical Billing Company Provide Training Opportunities For Your Staff?
Don’t overlook the training that your medical billing service should provide you with. Your choice of the best medical billing company should always work to keep you and your staff informed and educated about services, logistics and medical code changes as well as providing training opportunities and resources to your staff. Your medical billing company should be performing a minimum number of training sessions during the initial setup process and have ongoing training available to your staff regarding the best collection strategies, documentation and coding, eligibility best practices and how to better explain to patients.
All these things and more go into the very important decision of choosing the best medical billing company. One simple way to search them all and compare these features is to request a quote from our many partners. With one click you can see the options, features, track records and best prices on medical billing from over 2 dozen top providers we work with.