When you're in the market for a new medical billing service, you want to make sure you're getting all the features you need for your practice, right?
But the key to securing the right features is to know what's available in the marketplace. Without that information, it will be impossible to properly match your requirements with a reputable vendor's product offerings.
If it's been a while since you've shopped for a healthcare billing provider, you may be surprised by some of the features that are now considered standard in the industry. As you begin your search, keep in mind that vendors may place a greater emphasis on one or more of the features they offer. Even so, most worthy vendors will least offer features and options in several key areas.
- Data submission. Technology has automated the billing process. Yet the best medical practice billing providers continue to offer several options for data submission. Web-based and desktop software applications are commonplace. But if you prefer to submit your data through encrypted e-mail or paper forms, you can still find vendors who will accommodate your needs.
- Integration. If you decide to go the technological route, billing and service companies are more than willing to help you design a latchkey system that is integrated with your practice's current Medical Practice Management (MPM) and Electronic Medical Records (EMP) applications. For the most seamless option, many vendors offer their own MPM and EMR software packages.
- Sub-specialization. It's important to look for a vendor with sub-specializations in the fields that are relevant to your practice. Expertise in specific fields of medicine makes a difference in claims submission and will affect the fees they charge your practice.
- Comprehensive reporting. Don't assume that all vendors offer you the same reporting features. But a quality billing service will give you plenty of reporting options including monthly overviews of claims status, accounts receivable aging and the ability to export/filter/sort billing records.
- Transparency. First-class billing service providers offer features that are designed to provide total transparency for their clients. Any vendor that's worth considering should highlight 24/7 access or dashboard features that give authorized providers and personnel an up-to-date snapshot of your billing and claims status.