8 Reasons You Need a Medical Billing Service

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Are you getting your money’s worth with your in-house billers or billing service for your eye care practice? Choosing the best medical billing and end-to-end revenue cycle management (RCM) service is more than just finding someone to process claims. If you are considering outsourcing your medical billing and RCM tasks and are still on the fence about making the leap, here are eight quick reasons to help you decide.

  1. Reap the rewards of positive daily cash flow. Insurance claims are processed daily, payments are typically received within 2-3 weeks versus 60-90 days, and remits are posted daily. Billing services can help you decrease denials and increase coding accuracy.
  2. See an average of 99.7% claims paid. Choose a billing service where you only pay for what you actually collect from insurance companies.
  3. Get peace of mind with “uninterrupted” daily service during business hours. Never worry about delayed payments, planning for staff vacations, unplanned sick days, turnover, or costly re-training.
  4. Focus on your patients and other important parts of your practice. Eliminate spending hours on the phone with insurance companies. More Patients = More Revenue.
  5. Get three billers for the price of one. At Fast Pay, your dedicated biller submits claims, posts insurance payments, and researches unpaid AR—all for the price of one biller.
  6. Ensure privacy and safety of data with HIPAA-compliant services. Eliminate the PHI worry factor. Choose a billing service that complies with document and workstation security, email security, fax security, data security, and document disposal and destruction.
  7. Avoid delays in reimbursements with claim scrubbing. Some practice management systems do not include features that support claim scrubbing edits that alert you to a missing referring or ordering physician. The results? Claims are sent to insurance companies with errors, causing rejections and costly delays in reimbursement. Fast Pay billers are experts at making sure your claims are clean and free from errors.
  8. Get easy access to solid financial and activity reports. Your billing service should provide access to daily, monthly, and quarterly reports that show the activity and work completed.

About Fast Pay Health RCM: At Fast Pay Health, our revenue cycle management specialists take care of the billing hassle to maintain consistent cash flow and improve the turn-around time on your claims. We work with each of our offices to provide a solid RCM solution. No two practices are alike and we pride ourselves on maintaining open communication between every office and their Fast Pay Health account manager to stay in sync. Contact us for a free practice analysis to see how we can help you.