Outsourcing your clinic's medical billing tasks to a third-party is an excellent way to save your business some time, money, and manpower in the coming years. Here's what to look for when choosing which service provider to work with long-term:
Service Customization Options
It's important to make sure that the full service medical billing company you decide to hire for your health clinic offers customization options for all the services they'll be providing you with. If your clinic starts growing quickly, you may find the need to expand your medical billing department to accommodate all of your new patients and you won't have a lot of time to do it. Instead of having to hire a new employee and train them before you can meet your clinic's billing needs, you should be able to simply contact your medical billing service provider and let them know that your needs are quickly changing so they can customize your service plan accordingly. And if you need to add a new service to your plan, it should be as easy as requesting the service and paying for it.
Analytical Reporting Services
It's also crucial that you're able to keep tabs on the effectiveness and efficiency of the medical billing system you're using. Just because your billing tasks aren't being completed in-house doesn't mean that you shouldn't have access to in-depth analytical reports and tracking information. At least once a month, the medical billing company you decide to hire should provide you with a portfolio of statistics and reports that give you insight into things such as:
How often billing mistakes are made.
The percentage of patients that are behind on their payments.
Whether overall billing cycles are similar to one another.
Whether your clinic is missing out on revenue in some way.
The reports and statistics you receive should help you optimize your billing procedures by showing you areas in which you're doing well and where you might be able to make small changes for improved results.
A Service Guarantee
Another feature to look for when outsourcing your medical billing tasks to a third party is a service guarantee. You need to be sure that your service provider will be able to meet your needs not only now, but in the months and years to come. Changing service providers because your needs aren't being met can be costly and inconvenient for you and your patients, so make sure that the company you hire offers a service guarantee that ensures you all the services and options you initially agreed to throughout the entirety of your service contract.