Many medical practices choose to outsource their billing to medical billing companies. This is a wise choice, as it makes the billing process much simpler and less prone to errors. However, this type of service is only helpful if you choose a trustworthy company. Here’s what you should keep in mind when deciding on a medical billing company.
It’s important to ask specific questions about how a medical billing company operates before hiring them. Good topics to ask about include their checks and balances, how their business is structured, how they report and analyze employee performance, and what IT systems and tools they use.
You should also ask to speak with two of a company’s previous clients as references. Talking to real people who have used the company’s services in the past will give you a better idea of the level of quality you can expect from them. Also keep in mind that the more years of experience a company has, the more likely they are to truly be experts in their field.
The final factor to consider when choosing a medical billing company is price. As a general rule, a company’s price range should be approximately 4 to 5% of all payments. If a company is charging significantly higher rates than this, it may be a good idea to seek help elsewhere.