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Your Guide to Choosing the Right Medical Billing Outsourcing Partner

by: Mary Christine Galang

Thursday, August 10, 2017 |

Medical billing (along with coding) is considered as an invisible engineer of the healthcare system. Rapid advancements in the medical technology field not only improved the efficiency and accuracy for a better quality of healthcare, it also created the demand for this profession as well.

Essential to ensuring the effective running of medical institutions, a trained medical biller's job is to encode the claims and submit them to the insurance company for billing. A medical biller is responsible for checking any discrepancies and follows up with the insurance company to make sure the patient's claim has been approved and inform the patient of the updates on their claim.

Tips before outsourcing medical billing processes

If your company is ready to outsource your medical billing functions, let this checklist serve as your guide in selecting the right outsourcing partner.

HIPAA compliance

Knowing whether or not a medical billing company is Health Insurance Portability and Accountability Act (HIPAA) compliant should be on top of your list. This ensures that the company follows legal protocols that safeguard health information and protect the patients' rights. In extension, the company should also be updated with other corresponding regulations, laws, and guidelines.

History and reputation

Entrusting sensitive and confidential patient information is of paramount importance. When choosing a medical billing partner, do a thorough background check first. How long have they been in the business? Who are their past and present clients, their affiliates? Reach out to your prospects and find out who you are most comfortable with.

Transparency in the process

This means that you have complete oversight and total access to all valuable information at any given time. This also helps ensure the accuracy and efficiency of the process, and enhance productivity. This also includes knowing the types of reports (such as charges and payments summaries, aging summary or A/R, adjustments summary, visits, procedures, denials, and collections activity report) that you will receive and how often you will get them.

Price

This doesn't mean you must automatically go for the company that offers the cheapest services. Full-service medical billing outsourcing companies are staffed with trained and experienced billers and have advanced revenue cybertechnology that enables them to charge a premium for their services. This means they are well-equipped to handle more collections, which means more revenue.

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