This article was first published on Kareo’s Go Practice blog.
Medical billing has changed. And keeps changing. Every time you think you have it figured out, a new roadblock to reimbursement comes along. Finding and retaining qualified billing staff to handle medical billing and collections has become difficult and costly.
A growing number of providers are turning to an outsourced Revenue Cycle Management (RCM) partner to alleviate the administrative burden and overhead associated with the billing process. Practices that outsource their billing can see a 5-10% increase in net collections, not to mention the operational benefits that allow practices to focus on a better patient and provider experience. Billing companies vary in the services offered and it’s important to have responsibilities clearly defined in any contracts executed. Here are six questions to ask a potential billing company to make sure expectations are clear and to help you choose the right company:
- Who will be responsible for coding, including verifying the correct usage of modifiers?
- Who will take patient phone calls regarding questions on bills?
- Who pays for statements?
- How many statements do you send to a patient before recommending further action?
- Is any work done by third-party contractors?
- Is any work done by individuals outside the United States?
There aren’t necessarily any right or wrong answers to these questions, however, it’s important to know what is included in the fees and what may be considered “a la carte.” It’s also important to know what kind of staffing will be necessary to ensure that the billing company receives the information necessary to get your claims paid.
If you are considering a change in your current billing situation, contact us to find our how Ease RCM Solutions can improve your current process.