Medical Billing Services (The Facts) All You Need to Know
If I decide to outsource my medical billing how will I keep track of it?
Many physicians today question whether or not outsourcing their medical billing to a professional medical billing service is the right way to go. These same physicians ask themselves if their medical billing is not in-house how they will really know the true status of their receivables. Prior to making a decision regarding your medical billing, it's imperative to locate a billing service with the necessary experience and with whom you feel comfortable working.
It's also very important to make certain that they provide you monthly reports that accurately reflect exactly what amounts they billed, how much was collected and what amount is still outstanding. Your accounts receivable should be worked on a weekly basis so that is does not go beyond the 90-day mark (there are some cases when the insurance companies take longer than 90 days).
Here are some questions you'll want to be sure to ask a prospective medical billing service:
Do they post charges on a daily basis?
Do they transmit claims on a daily basis?
Do they post payments on a daily basis?
Do they send out monthly statements to the patients?
Will they credential any new physicians joining the practice and will they re-credential existing physicians?
I can't stress enough that when you decide to outsource your billing you'll want to be sure to have available a list of questions to ask the medical billing service representative with whom you speak, and insist that your questions are answered accurately and to your satisfaction. Also, don't be afraid to check out billing services outside of your state; the majority of medical billing services utilize the internet, fax machines and electronic claim filing, so it's no longer necessary to practice in the same state in which your medical billing service is located.
The key to making this decision is patience; it's highly recommended that you take your time, whether you're just contemplating outsourcing your medical billing or simply considering changing billing services. Remember, this is your income and what is ultimately best for your practice; both of these factors deserve considerable time and attention. I wish you the best.
Mary Owston is a professional medical biller and has been for 30 years. She has experience in numerous specialties. Mary Owston is the founder of MBC Medical Billing Company, LLC and may be found at http://www.mbcmedicalbilling.com
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