Medical Billing Choices
If it’s a local company, you will have the beneﬁt of on-site support. It’s always nice knowing that if things are not working out; you can actually walk up to their ofﬁce and push them into action. That’s one of the reasons why many physicians have signed contracts with their local vendors. However, how do you ﬁnd out if things are not going well for your practice?
With local vendors, many practices are unable to monitor the performance of their billing company as there is no reporting mechanism in place through which practices can look at the aging of their claims. There is no real time ﬁnancial aging summary, ability to view pending patient responsibility to name a few. Leaving that aside, these practices must still resort to calling insurances to verify insurance eligibility rather than relying on their billing software to do this task for them. Thus, not only do you have a very basic billing functionality but you are literally dependent on these vendors without any way of analyzing how they are performing. Thus, all you get with a local vendor is a face but no quality. Moreover, this option is generally more expensive than the other two.
Offshore Billing Vendor
With offshore billing companies, your problems are two folds.
the accents , lack of understanding the US insurance system , keeping up to date with payer payment changes , the misfortune of being transferred from one support representative to another rather than having your own billing account manager
Are you willing to risk sharing your patient’s ﬁnancials across shores in this environment of ever increasing focus on protection of patient health information and the penalties associated with it? I think not.
The positives though, these are less costly alternatives. Many of these companies charge you per claim rather than the standard percentage of collections model used across the industry.
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