Step to success: Home work before you hire a medical billing company for outsourcing
- Check if the company is HIPAA compliant. Find if the company is ISO certified
- Ask them how they secure patient’s information apart from the HIPAA compliance.
- Know their experience in the medical billing field.
- Know their business strategy
- How many clients do they work for? (know how your job could be done properly without interruption due to external distraction of other clients)
- Know & analyze the benefits you get from the company
- Compare the benefits they provide with the benefit you get when you do the job yourself.
- Know the deadline that they have set up for task accomplishment in each specialty
- Know the details about the medical billing software they use.
- Is their technological infrastructure flexible to make changes if required? (In case of adding new clients, process changes etc.,)
- Confirm their process accuracy % ( errors in the process might lead to delay or denial of payment)
- Do complete cost analysis. Ask if there are hidden costs
- Know the basic information about their employees like: How many employees work in the company, how many are certified
- Is the company supported with the latest technology to perform your function?
- Does the company work on denial management?
- If they work on it, know the level of service.
The most important: Know their business continuity plan in case of emergency, disaster or epidemic disease.
How do they continue the business?
Other – to dos while hiring a medical billing company:
- Keep the agreement clear.
- Have an eye on the company’s performance.
- Consult how they react to specific business challenges pertaining to medical billing – This is important because you can easily understand their business efficiency
In case you have already hired a medical billing company, check if your service provider is doing well:
- Are they good performers?
- Do they complete the task in time? (Never do they cross the deadlines)
- Is the company flexible to your needs and acts smart at the time of emergency? (just like employing more human resources at the time of need and completing the task )
- Are they providing you proper monthly reports with suggestions on financial improvement? (are they explanative)
- Does the company stop with medical billing service alone or gives importance to client satisfaction?
- How much money do they save you?
- Are they available to you all time, for your queries and business communication?