Hiring a professional medical billing service can greatly benefit your medical practice by reducing administrative costs, ensuring a steady cash flow, and ultimately, improving your bottom line. But most importantly, it helps your practice focus on what is important: patient care and medicine.
It’s important, however, to be discerning when hiring a professional medical billing service to handle your billing procedures. Here are some of the most important questions you should ask.
How Much Will Your Service Cost?
The first question that comes to mind is what their pricing structure will be like. In order to have a clearer picture of the costs, here’s what you should consider:
- How much the monthly bills will amount to and whether they offer a flat rate/collect a decided percentage of the charges. Since medical billing services help you increase revenues, the percentage option is a more feasible choice to align the billing service with your goals.
- Whether there will be additional fees on top of the monthly costs. Some billing services may charge extra fees for initiation and termination of services as well as for data conversion. Make sure you inquire about this.
- What services will be included in the package. Not all medical billing services are created the same; some are more comprehensive than others. Find out what sort of billing assistance you will be provided and what’s included and excluded from the package.
How Will You Handle My Account?
From reporting frequency to patient data security, a few things need to be considered regarding how a billing service will work with you:
- Are they HIPAA compliant? According to the laws of HIPAA, all service providers that handle private health information should ensure that the data remains private and is transmitted through secure channels. Ask the service what steps they take to ensure your data is safe.
- What are their reporting policies? When you outsource such an important aspect of your practice, not being in the loop can be disastrous at times. Ask the service how frequently they’ll report back to you and what the reports will include.
- What billing software does the service use? You want something that will work well for both your staff and your patients.
What Qualifications Does Your Team Have?
Also make sure to ask what credentials and qualifications they have. Here are a few things to consider:
- What their billing experience is; how long have they been in the industry for. Medical coding and billing require expert knowledge and experience. The service should have an established portfolio.
- Whether they can provide any references; asking past clients can help you get a clearer picture of how their service operates. Their experiences will help you make your decision.
Offering medical practices and healthcare providers professional medical billing and coding services in South Florida, A&B Medical Billing Solutions are an established name in the industry. Contact them today for more information.