Picking the Right Medical Billing Company

In May 2018, three former executives of Constellation Healthcare Technologies were charged with fraud. The billing company allegedly had fake customers, subsidiaries, and acquisitions. The men were charged with altering bank statements to boost the company’s value and led investors to believe the company was worth $300 million.

Unfortunately, it’s fairly easy for people to create a company that looks not only official but also successful in the online world. That’s why we have compiled some tips to help you find the right medical billing company for your practice.

Tip 1: Don’t Make Price the Only Priority

Budgeting is an important part of a successful business. However, as with most things in life, you get what you pay for.

If you’re looking for a medical billing company that emphasizes its low cost, you’ll probably also see that their statistics show low revenue, low collection rates, and low satisfaction. Plus, their staff and processes may not be very patient-friendly.

Tip 2: Make Sure the Billing Company Is Tech-Savvy

If your practice is not tech-savvy, it can be difficult to know what kind of services would be best for you. However, there are some key aspects you will want to strongly consider with any potential billing company:

• Data Security: Protecting the information of your clients is of top priority. Ensure that any billing companies you’re interested in have secure systems.
• Patient Onboarding: Adding new patients into the system should be pretty painless. Any eligibilities with insurance should also be readily accessible so that both your practice and your patients know what’s possible.
• Smart Software: Some companies utilize software that is constantly up-to-date with medical and insurance rules and regulations. This makes it easier to pre-screen claims, which is likely to reduce denials and lost revenue.

Tip 3: Look for Excellent History and Clear Commitment

The medical billing company you choose will be a crucial part of your business. Dig into their history, their customer reviews, their reliability. Claim generation delays, inconsistent follow-ups, and undelivered promises are some of the common issues that doctors face while dealing with contracted medical billing companies. Ask questions on how the company takes steps in avoiding these impediments.

Medical Billing Experts for Your Practice

If you’re looking for a medical billing company that encompasses all of these key qualities, look no further than the exceptional service, advanced technology, and great rates of ProMD. Leave the medical care to your staff and the back-office work to ProMD.

To learn about how we can take the burden off handling your billing functions while helping you pinpoint financial opportunities to drive your practice revenues, call us today at 888-622-7498, or fill out our online form to schedule a complimentary billing consultation.

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