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7 Factors You Need To Consider Before Choosing A Medical Billing Company

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Title: 7 Factors You Need To Consider Before Choosing A Medical Billing Company


1

7 Factors You Need To Consider Before
Choosing A Medical Billing Company
https//www.247medicalbillingservices.com
1 888-502-0537
2
7 Factors You Need To Consider Before
Choosing A Medical Billing Company
Medical billing can be a huge task, considering
the constant changes in rules and the
complications in submitting a claim. Also, after
the huge hit due to the COVID-19 pandemic, the
healthcare industry had to go through several
updates and changes. Outsourcing is an excellent
option to reduce staff costs, avoid claim
denials, and ensure smooth processing. It allows
healthcare professionals to focus on taking care
of patients full-time. Just like outsourcing is
important, it is extremely crucial to choose a
suitable medical billing company to hand over the
process. Below are the 7 most important things
you need to consider while choosing your medical
billing partner.
https//www.247medicalbillingservices.com
1 888-502-0537
3
7 Factors You Need To Consider Before
Choosing A Medical Billing Company
 Expertise Experience With so many companies
in the market, its difficult to choose one.
Check their speciality and account size. For
example, some companies may be equipped to handle
smaller practices with lower budgets, few
insurance carriers, and few physicians and vice
versa. You may then decide as per your
need. Also, find a company that specifically has
experience in your speciality so that there are
fewer chances of rejected claims due to incorrect
billing. With the expertise of the company, also
enquire about who your contact will be and
his/her expertise too. Compliance Check if the
staff is proficient in ICD-10, HCPCS, CPT codes
and if the company is ISO-certified and HIPAA
(Health Insurance Portability and Accountability
Act) compliant. Ask about their rate of rejected
claims and how they handle their rejected claims.
They should have a process for resubmission to
ensure there is no loss of revenue.
https//www.247medicalbillingservices.com
1 888-502-0537
4
7 Factors You Need To Consider Before
Choosing A Medical Billing Company
Analytics Reporting You need to ask questions
about how they deliver and how the work is
divided between their staff. Some may allocate
one biller who can provide undivided attention,
but some may allocate different billers where you
can get more done in less time. Its important to
see how they will be reporting everything to you
and their metrics to measure the success or
denial rates. Understand if the company
benchmarks its performance with MGMA or something
similar. Client Reviews Like how we check before
purchasing any product or service, its crucial
to check what their previous clients have said
about them. Software and Tools Medical billing
companies need to be updated with the latest
software and systems, so you need to know all
this beforehand.
https//www.247medicalbillingservices.com
1 888-502-0537
5
7 Factors You Need To Consider Before
Choosing A Medical Billing Company
Data Transmission Security Look for a company
that is committed to providing the best security
possible for your Protected Health Information
(PHI). They should have a secure and strong
connection with no access to vital personal
information. Pricing It all naturally boils down
to the cost. Get a clear understanding of which
services are included and which are excluded in
the pricing. Discuss the carve-outs related to
your services transparently with the company.
Some companies may charge extra for certain
billing and coding services which can later get
expensive. Hence, its important to know them
all. Some companies may charge by a percentage on
your revenue, some may charge a flat fee, or some
may charge a little of both. Comparison among
different companies can help you decide what
works best for you.
https//www.247medicalbillingservices.com
1 888-502-0537
6
7 Factors You Need To Consider Before Choosing A
Medical Billing Company
  • Conclusion
  • Make an informed decision after considering all
    the above points. 24/7 Medical Billing
    Services can be an appropriate choice for all
    your requirements. We are 100 HIPPA-compliant
    and use the latest high-tech software. All our
    500 highly experienced staff offer
    round-the-clock availability (in the whole week),
    claim submissions within 24 48 hours, and a
    standard of 99 clean claims. Even if we serve
    over 42 specialties, we guarantee customized and
    innovative solutions for each of our partners.

https//www.247medicalbillingservices.com
1 888-502-0537
7
7 Factors You Need To Consider Before Choosing A
Medical Billing Company
About 24/7 Medical Billing Services 24/7
Medical Billing Services is the nations leading
medical billing service provider catering
services to more than 43 specialties across the
entire 50 states. You can rely on us for
end-to-end revenue cycle management. We guarantee
up to 10-20 increase in the revenue with cost
reduction of your practice for up to
50.  Media Contact Hari Sudan,  24/7 Medical
Billing Services, 16192 Coastal Hwy, Lewes, DE
19958 Tel 1 -888-502-0537 Email -
info_at_247medicalbillingservices.com
https//www.247medicalbillingservices.com
1 888-502-0537
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