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Finding the Right Medical Billing Service in Iowa for Your Healthcare Practice November 27, 2013

Iowa flagEffective billing practices are necessary to keep companies in business – and healthcare organizations are no exception. However, with physicians eager to focus on patient care rather than back-end finances, it can be difficult to run a healthy business. This is where medical billing services come into play. In Iowa, third-party medical billing experts help medical practices maximize reimbursements and reduce costs, while putting patients first.

This trend is picking up all across the United States, according to a study released earlier this year by Black Book Rankings which found that 71 percent of practices are looking to improve revenue cycle management through a combination of outsourcing and new software. Outsourcing billing processes, after all, is often more cost effective than doing the same functions in-house. This is especially the case for small practices, organizations with a high turnover rate, and businesses just starting out.

For physicians in Iowa, a medical billing service can handle tasks and processes such as:

  • Entering data for all charges correctly for claims going to Medicare of Iowa and other payers
  • Submitting electronic and paper claims to primary and secondary insurers , including Blue Cross Blue Shield and Medicaid of Iowa
  • Knowing the information that Wellmark-Blue Cross Blue Shield and Medicaid of Iowa require to get paid
  • Tracking and following-up on unpaid claims
  • Posting payments
  • Preparing patient statements
  • Customizing medical billing reports

Whether you are interested in having a third-party billing service in Iowa take over your practice’s entire billing process or just a few parts of your business, choosing the right outsourcing partner can be the right move for your business. It can help you eliminate expenses, reduce denials, and increase payments coming in to your practice.

If you don’t currently have a billing or practice management system, find a billing service that uses its own software; and find out whether it can interface with your electronic health record system. Many medical billing companies can also adapt to the needs of your practice by working with your existing billing software. This is important, seeing as the most efficient billing departments tend to be those whose organizations have implemented fully integrated EHR and practice management platforms. An integrated solution can help improve charge capture and reduce denials. Most importantly, it can help you get paid faster.

There are many benefits to working with an Iowa medical billing service. To find out how 5 Star Billing Services can help your practice be more successful, call 480-821-1371.


Three Questions to Ask Your Pain Management & Surgery Center Billing Service Provider October 11, 2013

surgery center billing servicesMaking the decision to outsource your pain management billing to a third-party can be difficult, especially when it comes to choosing the right company that can meet the needs of your practice. After all, the performance of the billing company and their overall ability to handle your revenue cycle processes will determine your practice’s financial health.

Before making a final decision about outsourcing, it is important that you ask each potential medical billing partner the following questions. Getting answers will help ensure that the agency you ultimately choose to work with has your practice’s best interests in mind.

1. Will we have access to our data?

Whether your pain management practice chooses to outsource a few medical billing processes or every aspect of billing and collections, it is important for the third-party agency to be transparent and to share critical information with you whenever you need it. Professional pain management billing services will provide access to their system for monitoring and keep records of communications with patients, for example, so that you can monitor quality assurance at all times. Check with your outsourcing partner to see what they provide.

2. Will you provide detailed monthly reports?

Outsourcing pain management billing can help your practice be more hands-off and devote more time to patients. However, you still want to know how your practice’s finances are. Make sure your billing company provides regular reports about your accounts receivables, including how much they’ve collected and how much is still owed. These reports will help you determine how effective the billing company’s efforts are and which areas need improvement.

3. What kinds of fees or service charges will we incur?

billing services for surgery centersFee structures can vary from one pain management billing service to another; however, most third-party agencies will either request:

  1. a percentage of the total amount that they collect
  2. a flat fee per claim

Agencies that choose to charge a flat rate may also offer other accounting and administrative services that can be of real benefit to your practice. The fee structure that provides the greatest financial benefit to your pain management organization will depend on the amount of money you expect to collect each month. Be sure to review the terms of your contract carefully and ask questions if you don’t understand how something works.

5 Star Billing Services, Inc. has provided professional medical billing, collection and administrative services for pain management practices for many years. Contact us today to start reducing denials, decreasing costs, and improving cash flow.


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