How to select the right medical billing partner for your practice:
As we all know that medical billing can be a very complex and tedious process but its definitely possible to straighten out and remove operational flows in the revenue cycle and see rapid growth. Most companies offer solutions to iron out such flaws but will it sustain and is the implementation foolproof? Has there been any practice automation done? How is the ease of use to deploy and use the medical software for your team to and to make that transition and adopt a complete new setup With all of this we also have the need to adhere to all the compliance and security standards.
First of all you need to ensure that your medical billing partner adopts an approach and manner covering all the phases of the revenue cycle in an uncomplicated or comfortable methodology and using the right technologies to keep your patients super satisfied. So maybe you prefer to get an initial orientation or a sneak peek into how it's done adeptly. YOU CAN Start from using the right custom software but never forget and ensure the critical points are covered. This is why we usually at Purview we offer you a 14 day or 30-day window to experience proof of concept (PoC) campaign or put simply a free trial that goes for 1 month. Now you have an extended dedicated team covering 360-degree services in RCM and addressing all your pain points and optimize the Revenue Cycle.
Here we engage a team to get the work done for you for the entire 4 weeks at no cost. Yes, absolutely no cost or hidden fees at all. Warning, Avoid vendors who charge an initial set up. This is when there is a sense of trust and Accountability established. Apart from this watch out for the list of indicators below (especially during the PoC) and observe if they are being implemented along the RCM pathway : -
- Make sure the billing processes are transparently reported to you on a daily basis with the usage of the right reporting tools. Your first indicator to look for during this period is not just higher claims acceptance but a lot of visibility and transparency in communication and reporting.
- Ensure the team (with appropriate staff) have enough experience to handle regulatory matters that stem from inefficiencies in adherence to compliance and security standards. Ensure they have HIPAA compliance expertise certifications and work with the right insurance companies and have good organizational skills.
- Always make sure they have adequate staff for all the workflows and processes involved in the Revenue cycle from eligibility and verification to denial management. Along with that ensure they also have a capable cloud computing, medical software, and EHR/ EMR management. Mostly look for versatility in various specializations in the medical, dental, radiology, wellness, HIM, etc.
- Once again having the right team to handle your claims submissions and collections will pay off in the long run. So investing in good software and training the right amount of internal staff is an important step of action. So matching the right talent and experience to for the job role / staffing is a primary responsibility.
- Transitioning your team to use the medical software can cut down your internal costs but eventually automating some of the processes along the cycle will improve efficiency. The ease and usability of the software will play a role. During this phase, you tend to witness FTE costs coming down and work gets done faster.
- Once you get optimum productivity you will realize now that you have a lot of time saved for patient care, a patient's needs and attention to clinical expertise while you ensure the team works on rejections, denied and unpaid claims, re-fillings and code evaluations.
- As a rule of thumb, the cycle has 6 critical phases that are usually delegated to your medical being partner. During these 6 phases, there are some key practices that need attention to detail and are vital points that your medical billing partner should cover. These are discussed in my next blog titles "7 KEY OBJECTIVES IN MEDICAL BILLING".
- Lastly: Accountability and Trust. Make sure YOUR partner is there for the long term and short term. Short term, I am implying the daily and weekly support that you get along with constant communication deadlines being met. They should provide practice ANALYTICS and track the performance. Provide you with analytics and reports and to show you have proven results on a daily, weekly and monthly basis. Usage of Project management and remote support is always there whenever you need it. In the long term, your partner should be able to deliver the desired results and the main objective of your partner is to aim for maximizing your reimbursements and setting the pace in creating expansion for your medical practice.
Purview Services is a fast-growing, IT consulting organization providing end-to-end Information Technology Consultancy Services to several global organizations from the domains such as Healthcare Services and Solutions, Banking & Financial Services, Insurance, Media, Mobility, Telecom, Manufacturing, Retail, FMCG and Utilities. We are a high yield and technology empowered Revenue Cycle Management organization that provides medical billing and medical coding services to prime healthcare providers across the United States. Our Engineering teams constantly work on developing capabilities and expertise in niche technologies which enable our clients to make their next step.