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Assessing a medical billing service - AnnexMed
1. Assessing a Medical Billing Service
Is it possible for a healthcare provider to make a distinction between a shoddy medical billing
company and one that is experienced and able to handle the confidentiality necessary for this
industry? If a doctor has knowledge of the criteria involved to make that distinction, then it is
possible. This will allow the doctor to choose the right medical billing service. In so doing, the
doctor’s medical practice will show a reduction in medical billing mistakes, increasing the time
that the doctor can allocate to patient care.
Selecting Criteria
To select the best medical billing company, the healthcare provider must assess five important
criteria. These include:
The level and quality of service
Technology use
Industry experience
Performing functions
Pricing
New client capacity
The Performing Functions
Prior to making the distinctions on criteria, let’s look at the performing functions of the medical
billing process. A good medical billing company has the ability to assume most of the functions
of the medical practitioner’s office. Here are some of the functions that the medical billing
company can perform:
Generate and submit claims
Do follow up with insurance carrier
Post and process payment
Invoice patients
Providing patient invoicing support
Provide transfer services for collection agency
2. Main Functions
These are the main functions of medical billing. However, the follow up with the insurance
carrier and pursuit of denied medical claims are two huge entities that will take the pressure off
the medical practitioner. If the medical billing company excels in these two areas, you know that
you have selected the right company. Other medical billing services being offered could include:
Medical coding
Verification of insurance eligibility
Credentialing
Scheduling appointments
Naturally, the more billing services that you need, the more those fees will increase. You can
assess your own capacity of performing some of these functions to figure out which services will
be more time consuming and requires more assistance.
Pursuit of Denied Medical Claims
Denied medical claims are inherent of the healthcare and insurance industry. Therefore,
healthcare providers need help in this area. To find the best medical billing company, find out
the various types of billing procedures used.
Follow up Process of Medical Billing
If the patient goes without paying their medical bill, healthcare providers need help to follow up.
This is where a good medical billing service company comes in. Outsourcing this task will free
up your internal staff.
Regulation Compliance
The Health Insurance Accountability and Portability Act were put in place to ensure that
patient’s privacy is protected. Make sure that the medical billing company understands the
responsibility of a third party, especially as it relates to HIPAA.
Industry Experience
Choose a medical billing company with industry experience. This is important to maintaining
accuracy and ensuring proper billing procedures for Medicaid, Medicare and major insurance
carriers.
Conclusion
It is also important to choose a medical billing service that has certified staff members with the
American Medical Billing Association (AMBA). You want to make sure that your medical practice
is being effectively outsourced with an efficient billing company.
3. About AnnexMed Billing Services
AnnexMed is a premier billing and coding company that provides cost-effective billing and
coding services. With an indomitable spirit to succeed, AnnexMed made a modest start in 2004
from a small home office with a team of two. Today, with a family of over 300 people, we have
come a long way, and the same inspiration to achieve continues to drive us from one success to
the next.
We strive to help you achieve your objectives by doing whatever is necessary to get the job
done. We also consistently work towards achieving operational excellence to earn more
business. To know more pls contact info@annexmed.com or Call us 1-866-780-0669