“Should You Outsource Your Medical Billing”
My buddy Chris over at Software Advice recently penned a post, “Should You Outsource Your Medical Billing,” which I blogged about recently. He has a follow-up article on selecting a medical billing service which I also wanted to mention.
The first article compared outsourcing the revenue cycle management process to managing that function in-house with medical billing systems. Assuming you go for the former option – outsourcing – this post will help you make the right choice of medical billing service companies.
How can a provider tell the difference between a fly-by-night medical billing company and one to which they can hand over their patient’s medical information with confidence? If a physician knows what criteria by which to judge a medical billing service, they’ll be able to select a company that will significantly decrease their time spent on billing issues and increases their time spent on patient care.
To choose correctly, a provider will need to evaluate these five key criteria when choosing a medical billing company:
- Level of service;
- Industry experience;
- Use of technology;
- Pricing model; and,
- Capacity to take on new clients.
Amazing post. Thanks for sharing such an amazing post with us.
I need more details and articles about In-Home Medical billing systems. Yes, when I plan to outsource my medical billing to small size companies it doesn’t seem effective. Medical billing software and monitoring are not systematic, they’re manual. So is it good to do outsource in-home medical billing?
We are going to be posting more articles in the future about outsourcing billing and various medical billing software solutions. We always think it’s good to outsource, but make sure that you vet the company that you’re outsourcing to well.
Agreed, I definitely say experience, coupled with quality of service and technology. Obviously cost has a lot to do with it (%) and the ability for a medical billing company to scale. If a scalability model isn’t in place, then there will be issues. If you’re looking for a medical billing company I’d look at those pieces of the puzzle.
Thank Alex for the heads up on the broken link. It’s fixed now.
Glad to have helped, they probably took it down for some goofy reasons. You’re welcome Manny.
I like that you include industry experience in your list of criteria to evaluate. I think that it is important to hire someone that knows what they’re talking about and how to do it correctly. I think that this is really important, especially in industries like healthcare.
Thanks for listing those 5 criteria to use to judge a potential medical billing company. All 5 made a lot of sense to me, especially their use of technology and industry experience. I feel like the medical industry is constantly changing and adapting, so hiring a billing service who has been around for a long time but still uses up-to-date technology would probably be a good bet as to their ability to continue to adapt and thrive.