For the most part, medical billing companies are designed to offer a generalized service to all types of medical practices. Not distinguishing between the various different medical fields, these companies offer a broad “one size fits all” kind of approach when it comes to the billing services they provide.
This approach, though beneficial to them, as they can service more clients in this way, does not necessarily fully support your podiatry practice.
As a specialist yourself, you will appreciate that your practice has specific billing demands that require the services of a billing company that can understand your needs. It makes sense therefore to choose a podiatry billing company as they will have a thorough understanding of your chosen medical field.
In choosing a podiatry billing company to assist you, you will be teaming up with a company that understands exactly what kinds of services you are offering, know what prescriptions and medical products you are dispensing, and will be able to offer you the best billing strategy.
Podiatry billing companies work only with podiatrists and they already know what you are talking about, there is no need to explain what it is what you are billing for. In this way, they are able to focus their attention on getting your clients to settle their bills and offer greater customer service to your patients.
This will allow you the freedom to focus more on your practice and patients, knowing that you are outsourcing to people who understand and appreciate your medical practice as well as you do.
Effective 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.