Choosing a medical billing company is a big decision. You’re trusting an outside team with your claims, payments, and a major part of your practice’s cash flow.
And there are plenty of medical billing companies competing for your business.
Price matters, but it’s only one piece of the decision. Experience, services, communication, and support can all affect how well the partnership works.
Here’s what to look for before you choose.
Start With the Services Your Practice Needs
First, think about what you want to take off your team’s plate.
Medical billing companies don’t all offer the same services. Some may focus on certain parts of the billing process, while others offer broader support.
When comparing companies, ask about services such as:
- Medical coding
- Claim preparation and submission
- Appeals
- Performance tracking
- Quality assurance
- Compliance and security
Knowing what’s included makes it easier to compare your options and find the right fit for your practice.
Look for Experience With Practices Like Yours
Medical billing isn’t exactly the same across every specialty. Codes, procedures, and payer requirements can vary.
Find out whether a company has experience with your specialty and practices your size. A team that knows your type of practice may be better prepared for the billing issues that come up.
Find Out How the Company Handles Denials
Denied claims happen more frequently than anyone would prefer.
When choosing a partner, find out how they track denials and follow up on them. You’ll also want to know whether they look for patterns behind repeat problems.
That can mean fewer repeated issues and less revenue getting stuck in the billing process.
Ask About Reporting and Communication
Outsourcing shouldn’t leave you wondering what’s happening with your billing.
You should be able to see important information about claims, denials, collections, and accounts receivable. Find out which reports you’ll receive, how often you’ll get them, and whether someone will explain the numbers when you have questions.
Communication matters, too. Know who your main contact will be and how easy it is to reach them when you need support.
Consider Technology and Security
Your billing company will handle sensitive patient and financial information, so security matters.
Find out how the company protects patient data and follows HIPAA requirements. You’ll also want to know how its system works with your current EHR or practice management software.
The goal is to make billing easier for your staff, not create more steps or manual work.
Watch for Red Flags
Pay attention if a company:
- Won’t clearly explain its fees
- Makes big promises without explaining how it will deliver
- Gives vague answers about reporting
- Can’t explain its process
- Has little experience with your specialty
- Is unclear about who will handle your account
The way a company answers questions before you sign can tell you a lot about what the relationship may be like later.
Questions to Ask Medical Billing Companies
Once you have a short list, ask each company the same questions:
- What services are included?
- Do you have experience with our specialty?
- How do you handle denied and unpaid claims?
- What reports will we receive?
- Who will be our main contact?
- How does your pricing work?
- Are there additional fees?
- How do you protect patient information?
- How will you work with our current software?
Comparing those answers side by side can make your decision easier.
Choose the Right Medical Billing Company for Your Practice
The best medical billing companies do more than submit claims. They take time-consuming work off your staff and give your practice reliable billing support.
Look at the full picture before you choose. Compare experience, services, communication, technology, and price. The right company should understand what your practice needs and make billing easier to manage.
Oclinicals provides medical billing services that can take day-to-day billing work off your team’s plate.
Our team can handle coding, claim submission, and appeals, along with support from trained medical billing specialists.
Contact Oclinicals to learn more about our medical billing services.