Key factors to consider while choosing a medical billing services company

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  Choosing a medical billing services company can be a game changer for a healthcare brand in terms of how they handle charges and claims and how quickly they can move from charges to reimbursements. However, there are so many third-party service providers in the market. How does one make the right choice? Here are some of the key factors to consider when it comes to picking a billing service provider for your needs. Experience One of the first things to consider while hiring a medical billing services company is their experience. The number of years they have been in service will tell you their ability to sustain in an extremely competitive field and make things work. Quality of workforce Just like how you see the number of years of existence of a medical billing services company also check the average work experience of their staff. If the average number of work experience of their staff is 2 years, it means they have a lot of new hires. However, if the average work experie
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Why should you only work with RCM service providers who can take over complete account management?

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A lot of healthcare practices choose to work with third-party RCM service providers, and there are a lot of reasons for this. If you have been thinking of hiring such service providers or want to change your current service provider, then one thing you need to ask them is whether they handle complete account management.

 What's account management, and why is this important? Keep reading to know all about account management RCM services and their benefits. 

 A third-party service provider can definitely give you more value for the money you spend in hiring them because:

1. They come with exclusive expertise in the medical billing and coding industry

2. You don't have to worry about handling staffing issues

3. You get to use high-end tools and software that these service providers have spent time and money building

4. You get to focus on your expertise - treating patients

 However, many clients choose a third-party RCM service provider with only cost in mind, and end up getting disappointed and frustrated.

 Challenges in letting a third-party service provider handle your backend business

1. Many a time, such third-party service providers sit in a different parts of the world and work out of extremely opposite time zones. 

2. Such providers may have multiple teams and hundreds of people working for them, making it challenging for you to reach out to a specific person when in need.

3. The third-party service provider may work with multiple clients and not be available for you exclusively.

 All these three reasons are why you should be looking for an RCM service provider that handles complete account management. 

 What is account management?

 Account management is the act of managing an account exclusively, being available for the client during promised working hours, and taking end-to-end responsibility for the functionalities. 

 This would only happen when the service provider allocates individual account managers for each client and lets them be the single point of contact. By doing so, as a client, you will have your account management expert on speed dial and can quickly reach out without having to call multiple people to get things clarified or done.

 As a client, it is your right to be able to reach out to your service provider quickly and fuss-free. That's why all RCM service providers need to also handle account management, apart from other traditional RCM services. 

 Getting the best out of account management services 

 If you have an existing RCM service provider, try exploring the idea of getting them to handle exclusive accounts management instead of offering services in part. This would work if you could provide them with consistent work and retain them for extended periods of time.

 Depending on how big the client is, such service providers may also be ready to have dedicated coding managers, billing and transmission managers, and even auditors to ensure the client's businesses run seamlessly. 

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