Welcome to the fifth article in our ongoing blog series, The Pillars of Private Practice Success. We’ve already covered several key areas to focus on as you establish your practice. Building on those concepts, we are moving forward with defining a billing process that fits your goals and eliminates unnecessary costs associated with insurance denials.
Characteristics of a Quality Billing System
Your billing process is critical, and there are many factors that come into play when determining what a successful billing process looks like. A quality billing process meets the following standards:
- Includes reporting
- Competent staff monitors the process
- Claims are worked diligently prior to sending to collections
Each of these points plays a valuable role in how billing is implemented and carried out in your practice. Failure to adhere to any of these points could mean that your billing system is not serving you as it should be.
Avoid Sacrificing Quality for Cost
When you start looking for the best strategies for streamlining your billing process, you’ll quickly see that there are variables when it comes to quality and cost. Many companies will try to secure a contract by offering a low percent for billing services. However, low prices can often sacrifice a successful and efficient process.
Do your research!
Some companies will present statistics that can be deceiving. For instance, if the average number of days in AR is extremely low, this may appear like a good thing. However, behind the scenes, the company may be pushing accounts through as a write-off without applying diligent collection efforts. While you may be paying a lower price, you will also be receiving a lower amount of collections. Keep this in mind as you choose a billing process company to work with.
On Demand’s Billing Process
At On Demand, we are committed to helping practices just like yours thrive within their industry. We provide the benefits of outsourcing your billing process with some additional advantages:
- Lower overhead cost
- Access to a larger team for a lower cost
- Fully trained and efficient staff
Our educated team works to monitor the collections process and maximize revenues so that you can focus on other areas of your business.
We offer a customized approach to the billing process. We handle payment posting by rendering medical services into billable charges and ensuring accuracy in data scrubbing and data entry. When it comes to claims submissions, we submit billable claims to insurance companies. In terms of denial management, we manage those claims and work through any addressable issues, which reduces time in accounts receivable. When bills aren’t paid, we work with a third-party collection to obtain those delinquent accounts.
A Name You Can Trust
At On Demand, we know that the success of your practice matters to you—it matters to us, too. That’s why we offer the many services that we do to ensure that your practice is operating as smoothly as possible. Get in touch with us today to learn more about the ways we can help you grow!
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