5 Best Tips for Choosing a Medical Billing Service in New York
Choosing a Medical Billing Service in New York varies from practice to practice. A Medical Billing Service that suits a dentist clinic with more than two doctors, consulting over a hundred patients every week is an Electronic Medical Record (EMR). The EMR or Electronic Medical Record stores every patient’s medical data, you get notified regularly about claims deadlines, and it can store the data safe during the sudden power cut or error in the server. When you search for perfect medical billing software in the market, it gets confusing as many software offer bundle of features that are useful for large medical institutions, group of institutions or even individual. However, you don’t need to overspend on a full-fledged medical billing service if your practice doesn’t require it.
We offer you six best tips for selecting the best medical billing service in New York. Here’s a list of those top 6 tips you need to read right away:
Prepare Your Requirements
Before starting the search for the right service, make a complete assessment of your requirements as per your practice. The assessment makes it easier for you to skip the services that can make a hole in your pocket.
Research about the Company
You can check the online reviews, speak with the existing or previous customers, how was their experience with the service? What kind of services do they provide? It’s better to ask for more than just the price of service. It gives you an idea about how well the company handles the issues of medical billing of clients.
Agreement on Transparency in Service
Once you finalize a company for handling the medical billing services, make sure to agree on delivering transparency in service. You should receive a copy of claims or denials that have been reported in real-time. With the reports, you can understand the financial condition of your institute. You also need other information like payments, write-offs, charges, charges on hold, and adjustments.
You must ask some questions to see if they are rightfully operating under state laws. Check their credentials with some questions:
Is the company providing services with a certified professional biller?
Does the company comply with the Health Insurance Portability and Accountability Act (HIPAA) and Healthcare Common procedure Coding System (HCPCS)?
Have they registered for the Better Business Bureau?
Negotiate About Pricing
When you finalize a service provider and the package of services, you must ask them for the functions of the services being offered and also, negotiate the price. Haggling can get you a fair price than that of competitors. Here is a list of 3 payment models that are offered by these companies to the clients:
- Partly-fixed: This model is better for you as it’s cost-effective. In this model, companies charge a flat fee for services to clients. However, they usually do not offer this.
- Percentage: Most of the billing service providers use the percentage model; it allows them to charge a portion of the total claims.
- Fixed: In this model, you get charged with a fixed fee on each claim; this can be an inexpensive method for both parties.
Once you hire a medical billing service for your institute, make sure to train your staff to use the services properly. Make them learn how to perform various tasks and usage of each function.