It is hard to find a good healthcare billing company these days. The new ICD-10 has a lot of physicians scratching their heads. It is estimated that healthcare establishments are losing around 20% to 30% of their income due to incorrect or poor billing. Often, claims are rejected or have bad follow ups. A lot of billers simply give up on these 20 to 30% of claims because it is too hard to figure out what is going on. It is time consuming and often not worth the billers time. However, that is still a huge loss of income potential. Medical billing companies often take care of this for the doctor because they are specialists in the field.
Medical billing companies often get you 30% more money than your in house billers do. It is mainly because they are more familiar with the 100,000 different codes that are used on a daily basis for ailments. You need to understand that your company must be 100% HIPPA compliant. They may charge you anywhere from 4% to 16% to use their services. Instead of looking at price, look at your own pockets. If they can make your more money, why not use them? It is a no brainer.
Your medical billing company often works harder for you because they know that you are already unhappy with your in house billing or other billing company. When you feel like it's time for a change, it usually is. In house billers often are not trained effectively in ICD-10. The main reason is because they don't do billing day in and day out. Medical billers often have multiple tasks that they are working on at one time. They often are trying to make sense of an everyday situation. When someone tries to do the right thing, they often see to it that it makes sense.
You must have a company that complies with the law today. Companies that failed to comply with HIPPA get big fines. The person that is assigned to work with your company must be trained in medical insurance and coding standards. Are the agents handling your claims constantly being trained? Medical billers that attend courses regularly are better equipped with the daily changes that happen in the billing world. Someone with a master's degree is often more knowledgeable than someone with a high school diploma.
Lastly, ask if their staff is certified in ICD-10. This is the new coding system that was released on October 1, 2015. If they are not, then don't use them. The medical billing industry is no longer using ICD-9. It is important to know that proper compliance with the law is mandatory. No matter what kind of a deal a business gives you, make sure that they are HIPPA compliant.
Medical billing companies often get you 30% more money than your in house billers do. It is mainly because they are more familiar with the 100,000 different codes that are used on a daily basis for ailments. You need to understand that your company must be 100% HIPPA compliant. They may charge you anywhere from 4% to 16% to use their services. Instead of looking at price, look at your own pockets. If they can make your more money, why not use them? It is a no brainer.
Your medical billing company often works harder for you because they know that you are already unhappy with your in house billing or other billing company. When you feel like it's time for a change, it usually is. In house billers often are not trained effectively in ICD-10. The main reason is because they don't do billing day in and day out. Medical billers often have multiple tasks that they are working on at one time. They often are trying to make sense of an everyday situation. When someone tries to do the right thing, they often see to it that it makes sense.
You must have a company that complies with the law today. Companies that failed to comply with HIPPA get big fines. The person that is assigned to work with your company must be trained in medical insurance and coding standards. Are the agents handling your claims constantly being trained? Medical billers that attend courses regularly are better equipped with the daily changes that happen in the billing world. Someone with a master's degree is often more knowledgeable than someone with a high school diploma.
Lastly, ask if their staff is certified in ICD-10. This is the new coding system that was released on October 1, 2015. If they are not, then don't use them. The medical billing industry is no longer using ICD-9. It is important to know that proper compliance with the law is mandatory. No matter what kind of a deal a business gives you, make sure that they are HIPPA compliant.
About the Author:
Our organization uses advanced medical billing techniques for our customers. We do ICD-10 coding and have been doing it for years. We do a lot of behavioral health billing for our customers in Pennsylvania, New York and California. We take billing clearly and our customers often see a 25% revenue increase. We work with customers in all 50 states and welcome new customers as well.
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