Switch To Medical Billing Services Without Losing Revenue

In the event that your billing for medical services isn’t generating the revenue from your practice, it is time to look at switching your billing provider. It is likely that once you locate a new service and start addressing the mistakes from your current billing provider and your revenues will rise. How do you make the transition from your billing provider to a new service without losing more money?

However, you are aware that the move to a different billing company is a major change that will need employee buy-in and you’ll need to prepare yourself in advance.

However, there are a lot of instances where the old medical billing systems simply don’t perform the task you require, and the earlier you can make the switch to a brand new one as soon as you are able to enjoy the benefits.

Here’s how you can easily switch from one medical billing services to the next one without loss of revenue.

1) Don’t Just Switch to Any Billing Company

When you’re in a bind and are looking to break your relationship with the current billing service provider and everything else is appealing. It’s easy to think that you’re not going to get any more difficult, but that’s just not the case.

The last thing you’d like to do when you’re business is already suffering is to switch to a system that won’t assist in repairing the mistakes which were committed. To find the most suitable billing service to run your business it is important to do thorough research and conduct a thorough search. the various options for billing.

Find out what is missing from your current revenue cycle management services and ensure that your next service will help plug those gaps. The areas you should be thinking about include:

  • Denial Management
  • Insurance Eligibility
  • Medical Coding Review
  • Financial Reporting and Insights
  • Patient Pay Collections

2) Determine What to Do With Your Old A/R

There are several alternatives to the old accounts receivables. One alternative is to cut ties with it and begin afresh. One alternative is to think about how you can have your new billing firm “clean it up”. The third option would be to ask an internal employee to handle the project.

If the billing company you’ve chosen does not provide AR cleaning and you’re not ready to let go of the revenue that isn’t yet collected You could ask whether someone from the billing company is willing to give tips on behalf of the employee(s) who are taking part in the project.

Let this past A/R serve as a lesson. Think about how you got yourself in the AR at the beginning, and make sure that it does not happen again. The new billing service provider may be the top billing service around, but if your employees aren’t getting the information they need from your patients, it doesn’t matter. These are the things you’ll have to fix internally if you wish to avoid having old or high AR yet again.

Here’s a brief overview of the things your employees should be doing to establish an excellent working relationship with your new service provider:

  • Collect copays/deductibles/coinsurance
  • Request the authorization you require.
  • Update contact information for patients (phone number or cell phone number, email address)

Your new billing service should also provide the necessary documentation/training to your staff so that they can be successful in collecting payments/necessary information which leads to the next step on the list of how to prevent a loss in revenue when switching billing services.

3) Participate in the Training Provided

Do not underestimate the significance of the transition process and the training associated with it when you switch billing providers.

If you’re moving to a new billing and coding provider You must consider the introduction of these services as well as what resources are at your disposal going forward. Similar to changing to an EHR the practice will require training. Perhaps you don’t require the same amount of training as you would when switching onto an EHR software, but the training is vital!

If you are switching to a different billing service, you should inquire for training regarding the new process and also find out what’s required on your side. This will help set the scene to know the duties your employees are responsible for and how they accomplish these parts in the Revenue Cycle.

Keep in mind that the billing company you select is there to serve a purpose. If they’ve demonstrated their knowledge of the process of medical billing and you believe they can provide results for your behalf so you should remain open to following their procedures to improve the reimbursement rate for your practice.

Accepting these ideas and encouraging your employees to follow suit will strengthen your relationship as well as improve the importance & efficiency of your revenue cycle management.

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4) Assign a Point Person for the Transition

If it’s time to look into new services for medical billing it’s best to designate an ” point person” on the billing and coding team to oversee the process of transitioning to the frontline. Be sure to choose an experienced, competent person well-educated and respected by all team members. The presence of a solid point person will prevent the lines of communication from being broken and can prevent the spread of rumors and confusion.

5) Make Sure the Medical Billing Service You Choose Offers the Support You Need

Medical billing services differ in regards to the quality, features, cost as well as customer service. Naturally, most practices will be focused on the outcomes that will be financially attainable however, don’t ignore the importance of customer service.

When changing to a different billing and coding system it is important to consider the tools that will be at your disposal in the near future and today. Here are some suggestions to help you select an accounting service that has the highest quality of customer service:

  • Who will be my primary contact point on my account?
  • Does your business specialize in the EHR I’m using now?
  • What can you do to help me improve my EHR to improve my revenue cycle management?
  • Are meetings scheduled regularly to gain insight into the financial performance of my practice?
  • What response time do I get from your business if I need to resolve an issue?
  • Do you offer a client website for assistance?
  • What kind of training and education do They offer to customers?

It’s a Big Step, But It Can Benefit Your Practice Tremendously

Comparing, assessing, and evaluating the new medical billing solutions can be overwhelming However, the longer you delay changing your billing system the more challenging and expensive the change will be.

The first step to make the transition as smooth as it can be for the team you work with is the process of selecting the correct billing company. Be careful when choosing a medical billing service partner and ensure that you have a thorough discussion to establish the expertise of their staff prior to making a decision.

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