Calculator or Stethoscope: Which Do You Choose?

We’ve yet to talk to a physician who went into medicine because he or she wanted to run a billing department. But plenty of doctors find themselves doing just that. The biggest reason is a mismatch between theory and reality. In a perfect world, physicians would focus all their time and energy on treating patients, but without someone at the helm of billing it wouldn’t last long. Even in rural health settings where payments are capitated and simplified, the effort...

Dual Coding Tips for Medical Billing Companies

Most medical practice administrators have a calendar on the wall with the date October 1, 2014 circled in bright red. This date is when doctor’s offices have to begin using the new diagnosis codes, known as ICD-10 for filing claims with Medicare, Medicaid, all private insurance, and workers compensation. While the purpose of the change is to allow medical providers to bill with more certainty, one example is areas including left versus right side. The move is going to take...

Is that Sound Ice Cracking or Opportunity Knocking for Medical Billing Services?

One of the hardest tasks for small business owners is taking a step back to evaluate their business by looking at where the industry is, where it’s going, and where the opportunities are. So let’s take a moment to do just that. We’ll start with the fact that the outsourced billing sector is growing at 12% to 14% annually. The main reasons for that growth? Complex regulations Lack of resources within practices Technology that doesn’t function well and/or isn’t properly...

8 Key Questions to Ask Before Hiring a Medical Billing Company

Outsourcing your billing activities makes sense for many medical practices, but finding the right billing service can be time consuming and hit and miss. Here are some essential questions to ask the companies you’re considering. 1. How long have you been working in this field and how many years of experience do your billers have? As you know, medical billing is complex and about to get more so, thanks to ICD-10 adoption. Experts in this field tell us there’s no...