When searching for a medical billing company, there are many factors to consider. Inevitably you will find yourself making some sort of choice between cost, services offered, and specialization. That can be a daunting cross-section of options to parse through, and moreover, how do you even ensure you get all the relative information? In an effort to make sure you ask the correct questions to find the appropriate medical billing service provider for you, we have created a list of questions to ask when interviewing prospective companies.
Are They The Right Medical Billing Company For You?
These questions should ensure the best transition possible when outsourcing the second most important part of your practice.
1. What Does Your Medical Billing Company’s History Look Like?
How long has the prospective company been in business? What type and size businesses have they historically worked with? Do they have a specialization? Do they have references and testimonials to back up their claims?
2. What Will The Services I Receive Cost?
You should be able to get clear and transparent pricing, void of any hidden fees. Do they have start-up costs, termination fees, data transfer, or patient collection fees? Are they offering a flat rate service or a percentage-based service?
3. What Billing Services Are Included In Our Package?
Every company packages its services in its own way. It is imperative to know exactly what services are handled in your package. These should be weighed against other companies according to what fits your practice best.
4. Who Maintains Possession Of Your Practice’s Billing Data?
No matter who you choose to work with, your billing data is yours and should be available on demand. You should aware of exactly who you need to talk to in order to get your billing data in case you need to find a new company or bring your billing back in-house.
5. What Level Of Expertise Is Their Staff At?
A chain is only as good as its links. In the same way, a business is only as capable as its employees. Does their staff have a specific level of education they are required to attain? Are there licenses they are required to maintain? Or are they glorified clerical staff under professional supervision?
6. What Measures Are In Place To Maintain Compliance?
What security measures are in place to ensure compliance and security? How many people have access to data, and how easy is this access? Do you have a specific account manager? How can I contact this person remotely or over the phone?
7. Is Their Medical Billing Company A Member Of Any Professional Organization?
Is any member of their company or the company a member of any professional organization like HBMA? Memberships can add to the degree of trust you’re willing to put into the medical billing company.
8. What Is Their Medical Billing Companies Transparency Policy?
It should be understood up front how communication will work with the organization. What information will be available, when will it be available, and how should we expect to receive it? These questions should be easily answered.
9. How Are Denied & Rejected Claims Handled By Your Medical Billing Company?
What is the company’s rate of rejections & denials? When these inevitably happen, what efforts are taken to ensure claims are settled? Does the company chase down your money?