What to Consider When Deciding on a Medical Billing Service

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In this Healthcare Information Technology (HIT) age, should using a medical billing service be a consideration for your practice? In a traditional office, using paper charts for medical record keeping is common. Having a medical billing specialist on staff makes sense; a paper bill is a tangible asset, if lost, misplaced or incorrectly filed is money lost for the practice.

In the EMR world, the e-bill will eliminate this possibility. There’s an electronic record with electronic foot prints left behind to ensure accurate and timely filing. Having a service for your medical record billing can be done remotely and at a reduced cost of current labor obligations. When the cost of labor, benefits and taxes are complied, there are reasons to consider a such a service.

Consider these points:

  • Labor obligation expenses decreases
  • Certified medical billing specialist collaborating to ensure accurate maximization of charges
  • Cross trained staff to create a checks and balance of charges with modifiers
  • Defined measurements to demonstrate collections
  • Daily sheet reports to show activity
  • Security against possible embezzlement

Many medical practices are making the consideration of a medical billing service these factors plus more. Startup practices typically hire a medical billing service to keep cost within budget during the startup phase while collections are rising. Beyond startup, many medical practices keep the service for their demonstrated rate of financial return.