5 Considerations when Selecting Physician Billing Service

Physician Billing Services are different from Medical Billing Services in many ways. They are tailor-made for medical services extended by physicians and healthcare providers to insured patients. The physician billing services include regulation of administrative tasks related to medical services provided for the patients like organizing appointments, registration, check in/check out and collection of payments.  

To get the reimbursements healthcare practices have to be proficient in the process of billing along with coding. But with the rise of medical billing companies, outsourcing the physician billing process has become more accessible with increased efficiency of the practitioners.

If you are a physician looking for billing services, you must choose carefully and keep certain things in mind before finalizing any company. Here are some factors that you should consider when selecting any Physician Billing Services:

Things to keep in mind before finalizing your billing partner:

Review the History of the Company:

A lot of companies can just be a gimmick that makes fake promises to maximize profits without any expertise in physician billing services. As an aware client, you must review the history of the company and the physician billing services, and check for various references from various other clients. A genuine company will be happy to share the list of its satisfied clients. 

This will reduce your chance of being lured into fake promises and save your precious time and money. You must also verify the number of years & experience as the experienced companies are well-versed in handling problematic claims and rectifying billing solutions.

Check for Flexible Coding and Compliance:

You must check for the versatile range of the company in providing appropriate coding for different specialties. Look for certified medical coding professionals who hold expertise in ICD 9/10, CPT, and HCPS coding. Not just this but the coders must also be updated about the CMS and AMA guidelines to give accurate billing services.  

Being up to date with codes is not enough, the company must also comply with the Health Insurance Portability and Accountability Act (HIPAA). HIPAA protects the confidential information of the patients by storing it in an encrypted database. This is done to protect sensitive information from hacking and misuse. A HIPAA-compliant company can be considered trustworthy and reliant.

Company and Its EHRs:

Make sure that the company you choose is technologically advanced and uses EHRs (Electronic Health records). EHRs is a way to keep digital records of patients and is vital for maintaining a health record to provide suitable care. With EHRS there is no need to make physical records of the patient data, which allows easy tracking and analysis of patient data.

All in all, EHRs speeds up the process of record keeping and reduces the chances of making errors. This improves the operational efficiency of revenue cycle management, reduces the general costs and contributes to better time management.

 

Company and Its Denial Management:

Good management ensures a smooth flow of claim submissions with little to no denied claims. But there are still chances of errors in the filing process that results in rejected insurance claims. Any denied claim can be a sign of an inefficient system that causes a loss of revenue. But a structured denial management system can spot the reasons for claim denials and can take measures to improve the claim submission process.  

You must avail physician billing services from a company with a denial management that can maintain the financial workflow by strengthening data collection and resolving rejected claims. 

Cost Transparency:

Physician billing services can be a costly affair for many healthcare providers and falling prey to a flawless initial price will not be a good idea. A transparent company will list the medical billing process with detailed costs along with all the hidden or extra charges.  

You must clarify and confirm the pricing list in advance and get an explicit idea of the amount you need to pay to get the services.

 

In Conclusion

These 5 points of consideration will help you in reviewing the authenticity of companies, knowing the coding procedure & billing process to make your final decision about whether to opt for them or not. 

If you are looking for physician billing services, then your search is over as Eminence Healthcare Services is here to provide efficient medical practice management solutions to physicians and physician specialties. We provide customized billing & coding solutions to help you file proper claims, keep your cash flow positive, and boost your income.