Your medical practice is at risk for missing out on roughly 10% of its reimbursement revenue, typically because something goes wrong during the submission process. This is something that happens to many medical practices, but fortunately for you, there is a way you can combat this issue, and that is to observe your medical billing company.
Not all companies provide the same services, and not all of them are equally capable of maximizing the revenue you can generate. That’s why you should be watching for indicators that your current medical billing company might not be the best one for your needs. Here are the signs that you might want to leave your medical billing company.
They Don’t Grant You Access to Their System So You Can Look at Patient Accounts
If your outsourced medical billing company provides you with your billing system it should offer you full access to the system so you can look at the information on all your patients. If they’re not giving you access to their system, they’re likely not the best company for you.
They Haven’t Worked With Other Clients Inside of Your Specialty
Some medical billing companies will say that they are able to service all kinds of specialties, but these can be hollow statements. If they don’t have sufficient experience in your field, you’ll be the one needing to take them through all the necessary steps to satisfy your company’s needs.
This shouldn’t be your responsibility. The company you hire should already know what your business needs, so make sure they have worked with clients in your specialty before.
They’ve Been Shown to Be Disorganized and Unresponsive
Insurance companies will require you to file claims within a certain timeframe. Therefore, time is a precious commodity, and you don’t want to work with a company that takes too long responding to you, or that takes too long finding documents because they didn’t organize them properly. This puts you at greater risk of facing more claim denials in the future.
They Can’t Guarantee They Can Help You If Claims Get Denied
There are plenty of reasons a claim could get denied, and it’s something you should expect to happen from time to time. While initial claim denials are expected, it doesn’t mean your billing company should give up. Most claims can be redeemed with the proper follow-up, so you should always work with a company that is willing to go through those steps to ensure your claim denial rate is kept low.
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