Medical Billing Service is a great solution for some practices and a disaster for others. Why it becomes a disaster and why most of the physician failed to opt a better medical billing service. What makes the disparity? Your certain requirements, needs and the selection criteria you use, are critical in deciding the right medical billing company. Further than, you need to appraise the presentation of any medical billing service you consider and recognize exactly what services you’re purchasing. Here is course of actions you may need to consider when deciding a medical billing service. Besides, these guidelines, probabilities of disaster can be reduced when you decide to turn over your billing function to a third party (medical billing service provider). What a billing service can do – Identify your needs and requirements
Identifying your needs and requirements before deciding, whether outsourcing your billing would help your practice or not; make sure first what a medical billing service can offer you. Typically medical billing companies provide following services and solutions:
-Data entry support for patients, these may include demographic and billing information of a patient, charges for a particular service, receipts and adjustments.
-Production and creation of patient statement and let them inform through emails.
-Collection and tracking of payments from third parties as well as from patients.
-Record submission services, both electronic and paper based medical records of patients. -Exclusion of inactive account.
-Making and creation of management report.
Understand what a Billing Service can do? Before deciding whether outsourcing your billing would help your practice, be sure you know what a billing service can offer you. Different firms provide different services and equipment, but they typically include the following:
-Data entry of patients’ demographic and billing information, charges, receipts and adjustments;
-Production and submission of claims, both electronic and paper-based;
-Production and mailing of patient statements;
-Collection and tracking of payments from third parties and patients;
-Purging of inactive accounts;
-Production of management reports;
-Installation of computer terminals and printers so the practice can perform queries, update records, schedule appointments, and generate demand reports, demand statements and super bills.
-Identify your needs and wants
Next, carefully document the specific functions and characteristics of your current billing system. These include how the system tracks patient demographics, how it handles data entry, how it generates paper and electronic claims, its collection features, its ability to generate standard and customized reports — and everything else you find important. Think about what you like about your current system, what you don’t like and what features you wish it had. Then use that information to develop a list of the features you want from a Billing Service system.
