How to choose your desired medical billing practice management company for your practice?

Outsourcing your revenue cycle operations to a medical billing practice management company is the right move toward securing the financial stability of your practice.

However, choosing any medical billing services company could cost more headaches than benefits.

There are plenty of healthcare billing services companies providing complete medical billing and coding services. While there are several options, estimates still suggest difficulties that are faced by healthcare practices while choosing a desired medical billing services company.

Evaluation of practice’s pain points

As you wish to seek help from the external experts, there are a few pain points that are badly affecting your practice’s revenue.

Make sure to list down all those pain points and try to evaluate if that medical billing services company can provide solutions to those pain points. 

Once you have a list of your challenges, you will be more easily able to communicate them to potential medical billing services companies.

Important questions to address when choosing the medical billing company

1. How often do you submit claims?

When you submit claims quickly, you get paid quickly. Thus, it is critical to ask the medical billing company of your choice, how often they submit claims for your practice?

Ideally, it should be less than 24 hours while some companies would take up a whole week to submit a claim.

2. What’s your clean claim percentage?

Simply submitting claims is not sufficient, all details mentioned in that should be accurate ie; clean claim. 

Industry standards is 90 percent, when choosing the medical billing company for healthcare billing services, make sure you select the one that has 90 percent or more of clean claim ratio.

3. How can you help in growing our practice?

The desired medical billing partner should not only be able to handle your payments and claims, but they should also be able to guide you well and evaluate the health of your practice.

Make sure you unite with a medical billing service partner that provides end-to-end medical billing services to assist practices in growing their business while ensuring legal compliances. 

Boost your revenue with the experts: Capline Healthcare Management

Knowing your exact needs and then evaluating prospective medical billing service partners by asking these questions will help you find the vendor that will help you maintain a financially effective practice. 

Contact Capline Healthcare Management at thinkgrowth@caplineservices.com / (888) 444-6041 to share your unique billing challenges. We will be happy to provide trusted and cost-effective solutions to your billing challenges.