10 questions to ask before hiring a medical company

Healthcare facilities are always hustling. Everybody is always occupied; most employees wear multiple hats. The staff manages patients’ families and authenticates insurance deductibles and records other than dealing with patients. In addition, they are also in charge of performing medical billing, supervising audits, going over fee schedules, and providing oversight for coding and charge reviews. As a result, they guarantee the fiscal health of the practice.
In conclusion, thorough expertise and focus are required to handle medical billing the correct way. Hence, numerous healthcare leaders decide to outsource their revenue cycle to experts at a medical billing company.

Top ten questions to ask

One can talk about a few things in advance to hiring medical billing experts. The most important questions to consider before hiring a medical billing specialist are as follows:

What will it cost?

This is at all times the core agenda on everybody’s mind. Hence, a percentage is a better choice than a flat rate. The percentage typically falls as your collections go up. Above all, enquire about data conversion fees, start-up fees, termination fees, and any additional costs. However, some companies charge extra for other services such as patient collections follow-ups, etc.

Can they provide references?

Have they operated with practices that are comparable to yours in specialty, size, and scope? In addition, do they have references, or can you contact somebody directly for a recommendation?

Who owns your billing data?

Your billing data should be your property. You should be able to take it with you if you decide to bring your billing in-house or alter services.

What kind of training does the staff have?

Are they certified? What kind of continuing training do they obtain? In the same vein, are they using recent guidebooks and resources (i.e., CPT, HCPCS, etc.)?

Do they have any professional affiliations?

Does the service, or its employees, uphold any professional associations such as HBMA?

Do they have a compliance plan in place?

Are they HIPAA compliant? What are their security protocols?

Who will actually be working on your account?

Can you meet the real individuals who will be at work on your account?

Can you get a guarantee of transparency?

How often will you get reports showing the financial state of your business and the progress of the billing service? To sum up, how will they connect with you, and how involved will you be in the billing procedures?

Are most of their services electronic?

Most of the procedures should be electronic in this day and age, from remittances to eligibility verification. Similarly, they should also propose credit card handling and online bill pay for patients.

Are there billing follow-up items that they don’t handle?

Don’t assume that a billing service will do the whole lot or that all are counted in your rate. Most importantly, ask upfront and be assured you know if facilities don’t bid.
Use these queries to help guide your verdict when choosing a medical billing service. In addition, it’s important to take your time assessing your choices so that you get the most satisfactory service likely from the beginning.

Take Guidance of MedsIT Nexus in Choosing a Medical Company

Founded in New York, NY, in 2015 by a team of CPCs (Certified Professional Coders), and healthcare administration professionals, MedsIT Nexus has expanded its medical coding services nationwide across the USA. Our practice management and medical billing operation services are the best. Our highly trained experts are committed to the financial health of your practice. Contact us today!