Hiring a medical billing company to manage your practice billing is a smart move. Medical billing can overwhelm even the most organized practice. The right support will free you up to focus more on patient care.
Hiring a billing company for your practice should be carried out like an interview. You want to ask the right questions so you can mull over the answers before you make a choice. Here are seven questions you should ask.
Does This Company Have Experience With The Right Insurance Companies?
This is a practice-specific question. Before you speak to the billing company, analyze which insurance companies your practice bills the most. It is important that the company that you choose has experience dealing with the insurance companies that your practice typically bills.
Ask About the Billing Process
Ask how the medical billing company's process works. For example, once the bill is transmitted, how long before it is processed? It is important to know how long it will take for payments to hit your practice.
HIPPA Law Protections
Ask what safeguards they have in place for HIPPA law protection. For example, one of the HIPPA administrative rules is that records need to be maintained for six years. Does this company keep billing records for six years or is it your responsibility?
What is this companies' policy for their employees? Do they have certification requirements? Are the employees fully vetted before employment? It is important to know who you are doing business with.
Fees, and Charges
Ask about the fee structure, and if you have any questions about that fee structure, ask. It is important to fully understand what your financial responsibility is to the medical billing company.
Ask About Soft Skills
How are delinquent billing issues handled? Will this company have contact with the patient? How do they handle that contact? It is important to understand how your patients will be treated. This company will represent your practice. You want to make sure it is in line with the culture of your practice.
Ask the medical billing company if their system will work well with yours. Will changes need to be made to interface with their system?
The right medical billing company will have all the right answers.