I have been using the services of the staff of MRC for several years and have been pleased with their professionalism combined with caring and helpful attitudes. When opportunities came to consider changing to other billing companies, I chose instead to stay with this staff because I trusted them and felt they were looking out for my best interest.
-Dr. Hazelbaker
Internal Medicine
I've been assosiated with Ashley and her MRC team for approximately four years. The best thing that I can say is that I don't have to worry about whether my billing is completed and whether it is done right. I've experienced excellent collections and would recommend the MRC team to anyone.
-Dr. Harold L Dyer
Pulmonary Specialist |
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Why Use a Billing Service?
When you get to the heart of it, there are two main objections to using a billing service: control and cost.
The purpose of this article is to address each of those concerns.
Having your insurance billing done in-house gives the center a certain sense of control. And that is certainly true if you have someone in your center that truly understands billing, tracking and collecting on insurance claims. If this person has the experience, coding knowledge and the time and tenacity to follow these claims from filing through to collection, then you may already have your solution. However, most center administrators have a varied job description, with insurance billing being only one of their duties. How long before the capacity of your center outpaces the capacity of your administrator to keep up with the claims? Do you have the ability to dedicate one person to this critical task? Even if you do, what happens should this person decide to quit, or runs into problems they cannot handle? Does your center have the necessary cash flow to weather a training and transition period?
Having an outside billing agency relieves all those worries. An outside billing agency is able to file your claims electronically on a daily basis, which will dramatically affect your cash flow and your ability to serve clients and maintain staff. A billing agency has the coding and billing expertise to handle any problems that may arise with your claims, and they have the ability to deal directly with the carriers and not customer service reps that eat up valuable time. Because insurance claims are their sole focus, their efficiency allows your staff to focus their talents in other areas where they may be needed. Make no mistake; you still need someone in-house who is responsible for getting the information to the billing agency and tracking payments. You still have control over how you do business. But a billing agency removes the voluminous and tedious chore of filing claims.
Most billing agencies work on a percentage basis. They get paid a percentage of what is collected, not what is billed, so there is an inherent incentive to make sure claims are filed and processed correctly. The billing agency has invested in the technology to make daily electronic billing a reality so you don’t have to. All you need is a computer, a scanner and an internet connection—things you probably already have.
To be fair, in addition to considering the cost of a billing agency, you have to also consider what it will save your center. Outsourcing your insurance billing will make your current staff more efficient. It takes at least one full time person per $50,000-$60,000 in payments to handle billing. That includes charge entry, claim filing, carrier follow up, payment posting, patient statements, patient telephone calls, patient payment arrangements and bad debt preparation if needed. We can do it for less without the staffing headaches. The expense is the same or less, plus they have a professional billing crew at their disposal. You will not have to dedicate one person exclusively to this task. Instead of their role shrinking, their role may actually expand to include other objectives you want to achieve for your center but previously could not get to. A billing agency has certified coders and fee schedule expertise to make sure that your business is getting paid appropriately. Daily electronic filing, saves time, saves money and improves turnaround time on claims so you are not the bank for your clients. The improved cash flow will allow you to re-invest in your center and grow your business. Finally, a billing agency will give your center peace of mind—something that cannot be quantified. Your claims will be filed correctly and timely. You will be compliant in regard to insurance billing and HIPAA regulations. You will have a partner to assist you with this critical element of your business and you will see your business grow as a result.
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