What to Consider When Hiring a Medical Billing Company
If you are running a healthcare facility you must be aware of how critical medical billing is for its success. Medical billing is necessary for healthcare facilities and therefore it is important first to define objectives to see if outsourcing this process is ideal for the situation your facility is in.
If you are looking to hire a medical billing company so that you can lower operational costs and maximize the time that employees spend on patient care, then outsourcing these services might be an idea to consider. If this is a situation you can identify with, you might want to consider the best company to hire. With so many companies offering medical billing services, the cost factor is not the only thing that you should consider.
Here are a few things to consider when looking for a medical billing company:
- Knowledge on Coding
Although this is the responsibility of the physicians in your clinic or hospital, you should also ensure that the medical billing professional or company you hire is skilled in this area. This way, the company will be in a position to identify coding errors and recommend on the coding changes that need to be done in the healthcare facility. The relevant coding body, such as the AAPC, should certify the company.
- Compliance with HIPAA Regulations
The medical billing professional or company you decide to hire must also be compliant with HIPAA rules and regulations on security and privacy. This way, you can be rest assured that your data is safe and secure with the billing company. Additionally, you should hire a company that offers both offshore and onshore full data backups.
Procedures Used To Follow up Claims
It is important to understand the method used by your preferred billing company to follow up claims by your healthcare facility. To be precise, you should seek to understand how the company handles re-submissions, appeals, denials, and secondary as well as tertiary claims.
- The Management System or Software in Use
You should also inquire into the management system that the company will be using. This will help you ascertain whether the system can meet your practice needs. If the company is going to use your current management software, make sure that they are compliant with privacy and security regulations stipulated by HIPAA before allowing them to establish a networking communication with your current management system.
While hiring a third-party company for your medical billing needs, you should minimize risks as much as possible. With the tips mentioned above, the process should be much easier.