With any EHR/EMR or Medical Billing System available, iCareBilling offers medical billing, practice management, and healthcare RCM services. Chicago, Illinois, Los Angeles, California, Houston, Texas, and New York, NY account for most of our clientele. Take advantage of the Bespoke Solution for your Practice.
Get fully aware of the attributes of the business
Scrubbing claims and following up are standard procedures. RCM businesses frequently offer reporting, advice, and access to EMR and PMS with your services. As you chat with corporate personnel, look for these traits.
You should also check if the features of your healthcare administration leave the entry and coding of charges up to the firm or your staff. It would be best to inquire about the candidates for your billing service’s compliance according to the most recent ICD-10 classification system modifications. Get a feel of the billing company’s previous work with other practices in your field. As a last question, inquire about the breadth and scope of analytical and reporting solutions.
Compare costs
Instead of charging a set rate, RCM businesses often retain a quarterly percentage of your collections. The percentage will change depending on the elements mentioned above, and you can receive different percentage quotes from various billing services. When choosing, consider if a business company charges customers more and would offer you marked an increase than your other options.
While comparing costs, you should also see if the RCM provider offers access to an EMR system and a PMS as part of its billing services. These additions can allow the business to charge more significant charges. Yet, most medical billing providers demand that you utilize their PMS (and a few have the same rule about their EMR system). Data migration from an old platform to a new one may occasionally incur extra fees.
Identify the durations of setup and implementation
You must factor the installation procedure into the timeframe because you will install the software (unless you choose to collaborate with your current software supplier for billing). It frequently takes one to three months to set up the software component of your billing business completely. Although we discovered that many businesses provide implementations and training for free, the setup procedure occasionally results in additional expenditures.
Verify whether your medical billing supplier offers free training with your installation. If it does, you’ll be matched with a specific marketing manager who will assist you in setting it up. Access to setup materials you may peruse at your leisure may also be provided.
Consider your support alternatives
Support for medical billing services involves having a complete, transparent view of your billers’ activities at all times rather than just responding to calls and emails. Seek out service providers whose PMS systems provide a dashboard where you can check the progress of your claims in real time and review the work of your third-party billers.
Regarding conventional assistance, you should determine whether your supplier is available 24/7 via phone, email, live chat, or only during weekday business hours. The customer service staff of the business ought to be accommodating and accessible.
The computerized remittance advice and benefit descriptions from your payers should also be available through your billing service. These records are crucial for getting a clear picture of how your payers are operating.
Think about patient engagement resources
Medical billing is primarily, but not entirely, a payer-facing necessity. As most PMS systems contain a patient portal, they may also administer it, although most medical billing providers demand that you utilize their PMS. Your billing provider may follow up on outstanding payments and deliver statements to patients directly. Your billing agency may even supervise transferring patients to collections if bills go unpaid for some time.
It’s critical to ascertain whether the patient portal will increase costs for your business or be covered by billing services. Also, it would help if you learned how your preferred business chases unpaid invoices and how long it takes to send them to collections.
