Are you looking for a company offering medical billing services, but unsure of the company to pick? Is your current medical billing system costing your company too much in terms of claims sent back because of incorrectly coded diagnostic and procedural patient data?
If any of these is a resounding yes, then you need to consider getting a better medical billing system that will save you the current trouble and increase your revenue at the end of the year. To get such a medical billing company, you’ll have to look at their attributes or features. The attributes of the best medical billing services company include:
- Vast industry experience
Not all service providers have offered their services for a long time, but the best do have some level of experience in the industry. Choose a company with a solid track record, evidence of their experience, and verified references.
Information on how the potential firm has managed risks and online security and confidentiality of patient data is also very important when choosing a medical billing services company.
- Support for specialized services
The medical practice has varied specialty areas that must be handled within the billing system. The services company should show that their applications offer support for documentation of data and billing codes correctly. The system should be in line with industry regulations.
It should also support specialty service providers like insurance companies and the government or the health department’s regulatory board.
- Technological functionality and capabilities
The equipment to be used by the medical billing services company on your practice should have a system implemented for Electronic Health Records (EHR) software and practice management. It should be easy to streamline activities carried out in the past in the new system and for smooth continuity in the future.
Streamlined practice management, patients billing systems, and the EHR system reduces incidences of billing errors and increases the revenue generated.
- Transparency and communication
As you look around for medical billing services, you may come across medical billing by anesthesia services and many other companies offering good services. However, before signing up to get services from one company, you should go through the services offered and ensure that the services are transparent and communicative.
The databases used should be at a position to flag off any issues and send instant notifications to the billers. The company should also give rapid responses after hours and weeks of running operations through the system.
- Medical knowledge
The medical billing services company should understand the medical billing systems and the requirements. They should be up-to-date with medical coding system especially ICD-10. There should also be a smooth transition from ICD-9 to ICD-10.
The billing services should pass the OIG, HIPAA, and other privacy regulations to protect patients’ information. The codes should be specific and access to the system only possible for authorized personnel.
The services company must provide extensive ongoing training to the staff on the rules and security measures applicable when using the system.
In conclusion, the best medical billing system has these attributes as well as reasonable pricing for the services rendered, relative reporting, consistency in execution, and solid functionality.