To ensure the financial stability and growth of your practice, you would need streamlined revenue cycle operations. Notably, collection efficiency drops when the healthcare revenue cycle is not managed well, and in turn, accounts receivable increases. Accounts receivable is the core of revenue cycle management as reducing them results in healthier operations. Streamlining the revenue cycle also involves improving collection efficiency and monitoring AR days. It is important to note that the revenue will come in much faster with a well-managed revenue cycle. Clean claim submission and sticking to your AR goals is crucial for a medical practice’s revenues.
A medical biller must try to submit claims with totally accurate information regarding insurance details, demographics, provider details, codes, etc because submitting a clean claim is crucial to avoid denials and rejections. And this will lead to quicker payments and better AR. Also, it is important to ensure that patients timely pay what’s due at their end. Also, medical billing services in dallas practices should send payment reminders to payers as well as patients when a bill payment is being delayed.
One of the important that medical practices tend to miss is tracking and managing denials. Most practices focus on submitting clean claims but do not proactively track and manage claim denials. Each and every submitted claim should be tracked on regular intervals after submission and denied claims should be managed in an appropriate manner.
A large number of medical billing companies in Dallas, TX, and other US cities provide high-quality billing and AR management services. Medical practices can outsource medical billing services from these companies and reduce the burden on their staff. Also, the experts working in top billing companies will submit claims with minimum errors, therefore getting minimum denials which is also better for the AR management. However, it is important to choose the right medical billing company for your practice, which can get a bit tricky considering there are lots of billing companies in the USA. So, let’s take a look at some of the questions to ask billing companies you are considering for your practice to help you select the right company for your medical practice.
- What will billing services cost us?
- Will you manage denials?
- How experienced are your billers?
- Do you provide 24/7 support?
- What’s your first pass rate?
- Will you send payment reminders?
- Will you send appointment reminders?
Medical Billing Companies
- CureMD
- AthenaCollector
- eClinicalWorks
- BillingFreedom
- Cerner
- MTBC PracticePro
