Billing companies often try to convince physicians that outsourcing their billing is the only way to go. But, rest assured nothing is perfect.
Billing companies often try to convince physicians that outsourcing their billing is the only way to go; claims scrubbing, denial follow-up, resubmissions… all that red tape taken care of -- and out of your hair. But, rest assured nothing is perfect. For example, your practice will still need to collect patient demographics -- a common component when tracking a trail of billing errors.
Nevertheless, other reputed benefits of outsourcing, such as reduced staffing needs and improved compliance, can be real. It all depends on the quality of the billing agency you select. But, here’s what’s often left unsaid: You should regard your billing company as a business partner who will work with you to ensure your success. They cannot handle your practice billing independent of your input. In fact, HIPAA formalizes this relationship through a required business associate agreement.
To ensure the best possible relationship between your practice and your billing company, here are some factors and questions to consider when searching for a potential billing company:
Finally, here’s one last way to make sure your billing company works as hard for your money as you do: compensation. Make sure you contract to pay for services based on a percentage of collections, rather than actual charges. That way, you’re only paying the billing service for what it brings in for you.
Karen Zupko is a seasoned senior advisor who has been helping physicians to navigate America’s healthcare system since 1974. Her perspective stems from more than 25 years of consulting, coaching, and training experience with physicians and those who manage them. She is a member of the American Marketing Association and Women in Communications, and has served on the board of trustees of Chicago's Grant Hospital. Karen is a graduate of the University of Kansas and a Chicago native. You can contact her at kzupko@karenzupko.com.
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