Choosing a new medical billing service is stressful. Few activities have more of an impact on practice profitability, after all. But with the risks of choosing comes upside, too — and not just in the opportunity to have your billing handled by dedicated professionals.
Switching to a third party billing service (or a new service) offers an opportunity to upgrade your technology at the same time. By making the platform(s) your new biller uses part of your evaluation, you can improve other parts of your practice business besides billing itself.
Today’s billing technology has continuously improved in recent years. Competition has spurred innovation and a wealth of new features. The cloud platform, especially, allows these vendors to roll out upgrades more cheaply and easily (and make them mostly painless for customers, too). Billing services that use the most up-to-date billing platforms can offer these advantages to their clients as part of the service.
When you use a practice management system as part of your billing service relationship, that usually provides you with scheduling, reporting, reminders, verification, and other tools automatically. A more flexible, modern scheduling system can help you maximize provider productivity and reduce costly no-shows. Better reporting allows you to easily analyze the value of your contracted health plans. Verification tools built right into a practice management system save staff time and reduce costly booking mistakes. These are just a few of the benefits you can get by making top-tier billing/PMS technology a requirement of any new billing service you’re considering.
Of course, you don’t necessarily even have to switch services to switch up technology — if you made a good choice of partner in the first place, that partner will work with you to make a transition if you need to. (A small, independent billing shop — even a one-person shop — can be a wonderful solution for your practice, but it is very important that they commit to keeping up with technology trends and opportunities. In fact, great technology is one of the best tools independent billers can use to shine, by allowing them to focus on superior service.)
These are some of the reasons I always recommend you consider technology a top priority when choosing and evaluating medical billing services. I’ll be sharing more ideas about billing technology, and more ways you can better choose and — equally important — manage a third party billing service for maximum profitability in my new webinar. It’s free (sponsored by Kareo (@gokareo)), and I hope you’ll join us!
Date is 8/19/15, time is 10:00AM Pacific, 1:00PM Eastern. To sign up, visit this link:
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