Running a small medical practice means your team probably wears a lot of hats. The person answering phones may also schedule appointments. Your office manager may handle everything from staffing issues to insurance questions.
And that means billing can quickly become one more job competing for attention.
Medical billing services for small practices can take some of that work off your team. But outsourcing is a big decision, especially when every payment matters to your practice.
Before you choose a billing company, here’s what to look for.
Experience With Small Medical Practices
A billing company that has only worked with large health systems may not be the right fit for a small independent practice.
Small practices have different needs. You may have fewer people handling billing questions. You may also feel the effects of delayed or denied claims more quickly.
Ask potential billing companies about the types and sizes of practices they work with. You want a team that understands the challenges of running a smaller practice, not one that expects you to fit into a system built for much larger organizations.
Services That Match Your Needs
Before you outsource, think about which parts of billing take the most time away from your staff.
Depending on the company, medical billing services may include:
- Medical coding
- Claim preparation and submission
- Payment posting
- Denial management
- Appeals
- Insurance follow-up
- Patient billing
- Reporting and performance tracking
You may not need every service available. Look for a company that can provide the support your practice actually needs without making the process more complicated.
Clear and Predictable Pricing
Small practices usually have less room in the budget for surprise expenses.
Find out exactly how the billing company charges. Some companies charge a percentage of collections, while others may use a flat fee or another pricing model.
Understand what the quoted price includes. Check whether there are separate fees for setup, reports, patient statements, or other services.
The lowest price isn’t always the best deal. What matters is knowing what you’re paying for and whether the service provides enough value for your practice.
Support When You Need It
Outsourcing your billing shouldn’t leave you wondering what’s happening with your claims.
Ask who you’ll contact when you have a question. Will you have a dedicated point of contact? How quickly can you expect a response?
This can be especially important for a small practice. When you don’t have a large administrative team, you need to know someone is available when a concern comes up.
Reporting You Can Understand
You shouldn’t have to give up visibility just because another company handles your billing.
Look for regular reports that make it easy to see how your practice is doing. You may want to track information such as:
- Collections
- Claim denials
- Accounts receivable
- Days in A/R
- Payment trends
Good reporting can help you spot problems before they become bigger ones. Your billing company should also be willing to explain what the numbers mean instead of simply sending you a report. Some, like Oclinicals, will have a dashboard you can log into at any time to review your data.
Technology That Works With Your Practice
Changing your entire workflow just to accommodate a billing company can create more work for your small team.
Find out how the company will work with your current electronic health record and practice management systems. Learn what your staff will need to do each day and whether you’ll need to buy more software.
The goal of outsourcing should be to make billing easier, not add another complicated process for your staff to manage.
Compliance and Security
Your billing company will handle sensitive patient and financial information, so security matters.
Ask how the company protects patient data and follows HIPAA requirements. Make sure you know who can access your data and what happens if there is a security issue. You should also understand how information is shared between your practice and the billing team.
A reputable company should be able to clearly explain its security and compliance practices.
Is Outsourcing Medical Billing Right for Your Small Practice?
Outsourcing may make sense if billing is taking too much time from your staff, claims aren’t being followed up on consistently, or you don’t have the resources to maintain an in-house billing team.
But the right partner matters.
Oclinicals provides medical billing services for small practices that want experienced support without adding more work to their internal teams. We can take key billing tasks off your team while keeping you informed about how your practice is performing.
Contact Oclinicals to learn more about outsourcing your medical billing and find a solution that fits your practice.