In order to help expand the revenue, many companies offer medical billing services for small practices. These services manage all of the revenue cycle management processes and handle the claim procedures until the payment is made. You don’t need to hire an extensive staff for medical billing as these services save you costs by performing billing tasks through their professional staff.
But, being a small practice you might have limited resources and you want to hire those medical billing services that come under budget while still providing reliable solutions. To make your decision process easier, we have collected 3 leading billing service providers, that conduct the entire RCM to get you the payment.
3 Leading Medical Billing Services
Following are the 3 medical billing service providers along with their main features described, that can help you better decide which one to go for.
- BellMedEx
BelleMedEx has been providing its medical billing services to small practices for more than 6 years. Not only small practices, but their services have been very advantageous for large practitioners as well.
They provide in-house RCM services, in which their professional front desk staff manages patients’ insurance coverage details, claim applications, resolving patient complaints along with giving satisfactory customer service.
If you outsource your medical billing services to BellMedEx, you’ll get rid of worrying about medical coding since their staff possesses expertise in performing coding in an accurate way to get the claims approved. Some other benefits of working with BellMedEx are:
- Save Your Costs
Outsourcing medical billing services to a reliable company like BellMedEx saves you spending an enormous budget on setting up coding systems, hiring staff to manage claims and code capturing, office furniture, and other necessary costs, along with saving space in your small practice office. BellMedEx provides all these facilities in the package, from updated coding systems to experienced staff.
- Reduced Claim Rejections
Their staff is properly trained in managing claims, filling claims with accurate patient information, and tracking the claim status. BellMedEx uses automated systems to handle claims, so their staff keeps the small practices updated about the claim status and gives their 100% to approve the claim.
Besides, if any claim is rejected by the payer, staff working at BellMedEx identifies the cause of objection and keeps working on resolving the problem until they make the application error-free.
- Help Desk
Not only managing medical bills, but BellMedEx also specializes in providing the excellent help desk for patients. They keep your patients informed about their bills and payments besides responding to any complaints they have. They keep close communication with patients in order to retain them at your hospital. Their reliable customer help desk will maximize the reputation of your practice, which in turn results in a revenue increase.
- MedicalbillingExperts
MedicalbillingExperts have been in operation for more than 10 years. Their cutting-edge medical billing services include collecting patient information, integrating accurate patient data into their systems, managing claim status, and following up with the patient for co-payments and insurance payers to make reimbursement payments.
One of the biggest features of using the services of MedicalbillingExperts is that it submits the claim to the insurance payer on the same day when the service is taken by the patient. That means you are more likely to get immediate revenue. Besides all this, other salient features of their medical billing services are:
- HIPAA Compliant
The complete RCM process conducted by MedicalbillingExperts complies with HIPPA (The Health Insurance Portability and Accountability Act). This act ensures the protection of patient data during medical billing. Under this law, all health practices are required to keep the patient’s data to themselves, and it mustn’t be disclosed to any third party without the consent of the patient.
If you take medical billing services from MedicalbillingExperts, you can make sure that your services follow all rules and regulations. So you are free from violating any legal law that may cause huge consequences to your practice.
- Updated Technology
MedicalbillingExperts have pride in providing you with updated medical billing services, with the help of cutting-edge technologies employed in their RCM processes. They make use of technologies like MedicalTouche Clinical and Nextgen to conduct medical billing efficiently.
Besides these technologies, they employ other updated systems as well to grow your revenue and maintain a positive reputation among multiple small practices.
- Minimized Coding Errors
MedicalbillingExperts reduce medical coding errors to the least extent since their claims fulfill ICD-10 and CPT coding requirements. That means your claims are more likely to be seen as credible by the payer and be approved immediately.
- HMS
Working with HMS lets you focus on patient health services as they take up all your administrative work. HMS has been successful in securing 90% claim approval rates, which may help you get quick payments and accelerate your revenue growth.
They possess a team of professional and skilled medical coders that may help you in every aspect of your small practice, especially in A/R recovery. Along with these features, HMS provides other benefits as well:
- Quick Payment Posting
As getting payment on time is your prior task being a small practice, HMS processes make quick payment postings. They make sure the timely and accurate insurance and patient payments are in your account by using their systems, which make the cash flow simple.
- Follow-Up
After a patient has taken the medical service, following up on them can be a daunting task as many of them show a sluggish turnaround over making the payments. But HMS can help you in this regard and save your time and energy in A/R follow-ups. Their staff keep records of patients’ payments made or left amount. That enables them to track each patient individually and contact them to remind them about their payments.
- Bill Audits
HMS also provides the feature of medical bill audits, that keeps you updated with claim statuses. You can be aware of how many claims have been rejected and what is the paid reimbursement ratio. This audit also involves resolving the claim errors to help you secure lost revenue.
Conclusion
As you can see, all of these medical billing services for small practices offer unique features and benefits, it is now easier for you to choose a suitable one and rely on their services to make the most of medical billing and get as much revenue as possible.