Is Your Private Practice Ready For A Medical Billing Company?
Looking back on it, your road to becoming a doctor was long and hard. You studied it all — anatomy, physiology, biology, pathology, urology, dermatology, psychology and oncology, to name only a few specialty areas. After your residency and licensure, maybe you decided to join a hospital group, and later opened your own office. Wait! Did you study business management, insurance regulations, bookkeeping or accounting? If you answered no, how did you plan on handling the business aspects of your practice?
It is no longer considered a good idea to hire your mother or spouse to do your books and handle the billing tasks of your practice, if that is what you did. Today, the medical field is just too complex for the lay person to handle. The industry is complicated, the changes are many, and they are coming fast.
The growing business of medical billing services is reflective of our times. It is no longer possible for a physician to provide excellent care to his or her patients, and also become adept at medical billing and collecting fees for services. You reception staff can certainly collect patient co-pays. But when billing becomes complicated after the office visit, if not attended to properly you will experience bounced checks, non-covered services rendered, patients giving false addresses, expired insurance cards, phony credit cards, what have you. Now what do you do?
If you hire an office manager or billing manager to take care of this function, it will probably become too much work quickly. There is a lot to keep up on, and most medical billers today have undergone intensive study, education and on the job training to get themselves up to speed on this changing discipline. So where are all these well trained medical billers and coders? The answer is, they are hired and working for medical billing and coding companies. Aren’t those the individuals you want working for your physician practice?
Hire a medical billing and coding service and all of these tasks and more will be taken care of for you by experts. Since medical billing and coding companies are usually at a separate location from your offices, your patients will now deal with their medical billing problems without having have to call your office with questions and insurance problems. Even if you have an excellent office staff, it is unlikely that they can take care of billing problems in the same way that a medical billing service can.
Most medical billing and coding companies also offer collection services, benefits verification, utilization management services, profitability evaluations, and physician credentialing. They may also be able to handle producing special reports for you upon request. For today’s medical practices, the one necessity is to hire a medical billing and coding company. Hire one, and see what you have been missing all this time.