Selecting the right service provider can be a daunting task. Medical billers are as unique as the practices they work with.

Some medical billers are simply third-party chart submitters, while others (like Progressus Revenue) are full-service medical practice consultants.
We have put together a quick list of tips as a guide to vetting medical billers. This list is by no means an exhaustive one but believe us when we say that if the company of interest fails on these points, you don’t want them handling your revenue.

Here are 3 quick tips to help you select the right medical billers.

The history and success rate of a company is important. Remember, the company you select will be handling your clinic’s money. This company will potentially oversee code selection strategies for patient visits and maintaining your standings with payers. The last thing you want is to see patients and not be paid for it. Some questions to ask are:
Are there certified accountants and coders that handle will handle my account? Are your teams local, or do you outsource? What is the average 90 day return for their clients? Are they certified with the BBB? Are they in compliance with HIPPA and Healthcare Common Procedure Coding System (HCPCS)?
Keep in mind that performance, certifications, and reliability matter more than price. The medical biller you choose will be a huge factor in how successful your practice is.

In the past, loss of at-hand financial data for your practice was a serious downside of working with third-party billers. Transparency matter. Before you agree on medical billing services, be sure that you have access to the following:

-Charges summary

-Payments summary

-Aging summary (A/R)

-Aging Claims (by insurer)

-Adjustments Summary (write offs, refunds)

-Visits

-Procedures

-Denials

-Collections Activity Report

And finally,

Three payment models are offered by medical billing companies to medical institutions or professionals:

1) Partly Fixed Model

A partly fixed model is a cost-effective model that features a flat rate charged for service.

2) Fixed Fee Model

The fixed fee model is often thought to be the cheapest payment method. In this model, a biller will charge a fixed price on every claim that they submit.
The above models have an inherent flaw. They are not tied to the performance of the practice. These two models are typical of billing companies that function as chart submitters. These types of companies rarely help to grow a medical practice, and often leave a clinic worse off.

3) Percentage Model

The percentage model is the most popular price structure for full service third-party billing and coding companies. It allows a percentage of total claims to be charged by your third-party medical biller.
The percentage model incentivizes your third-party biller to help your revenue grow. The company becomes a financial partner to your clinic, with their success and your success intertwined.

Outsourcing your medical billing can be financial beneficial. Keep these tips handy when as you interview medical billers, and remember the cheapest provider isn’t always the most effective.
Progressus Revenue goes over beyond for our clients. If you are interested in growing your practice revenue, call us today or submit a request for a full practice audit.

Call us or contact Progressus Revenue for more information.