How to Choose the Right Physician Billing Service for Your Practice
If you’re like most physicians, you didn’t go into medicine to become a billing expert. In fact, the administrative side of running a practice can be a real headache – especially when it comes to billing. That’s why more and more physicians are turning to physician billing services to take care of this important (but often complex and time-consuming) task.
But with so many billing services out there, how do you choose the right one for your practice? This can be a difficult decision, but it’s important to take the time to find a service that will meet your specific needs. Here are a few factors to keep in mind as you shop around for a physician billing service:
- Make sure the billing service is HIPAA-compliant.
This is absolutely critical. In order to protect your patients’ privacy, you need to make sure that any company you work with is HIPAA-compliant. This means they have the proper safeguards in place to protect patient information. It’s always a good idea to ask for proof of compliance before you work with any billing service.
- Choose a company with experience in your specialty.
Billing for a primary care practice is different than billing for a cardiology practice, which is different from billing for a surgery center. Make sure the company you choose has experience working with practices in your specialty. This way, you can be confident they understand the intricacies of your particular billing needs.
- Ask about their fee structure.
Most physician billing services work on a percentage-based fee structure, taking a cut of whatever they’re able to bill for you. But it’s important to understand exactly how this works before you sign on with a company. Some companies charge a higher percentage for certain types of services, while others have a flat fee regardless of what’s being billed. Make sure you understand the fee structure so there are no surprises down the road.
- Get references and check them out.
Any reputable billing service should be able to provide you with references from satisfied clients. When you get these references, take the time to actually follow up and ask questions. Find out if the company was easy to work with, if they were able to get claims paid in a timely manner, and if their staff was knowledgeable and helpful.
- Make sure they offer good customer support.
Billing can be complicated, so it’s important to choose a company that offers good customer support. This way, if you ever have a question or concern, you know you’ll be able to get the help you need.
- Choose a company that uses the latest technology.
Medical billing is a complex process, and it’s always changing. That’s why you need to choose a company that uses the latest technology. This way, you can be confident they’re up-to-date on all the latest regulations and requirements.
- Make sure they offer transparency.
You should be able to see exactly how much the billing service is charging you, and you should have access to detailed reports showing exactly what claims have been billed and how much money has been collected. If a company is unwilling to provide this level of transparency, it’s best to look elsewhere.
By following these tips, you can be confident you’re choosing the right physician billing service for your practice. When it comes to your patients and your bottom line, you can’t afford to take any chances.
