Medical practitioners have to provide high-quality healthcare services to serve the needs of patients. Besides a busy schedule, physicians have to complete necessary administrative responsibilities as well like medical billing, coding, and credentialing. Medical practitioners normally have two options either to do in-house billing services or to outsource medical billing services, medical coding services, and physician credentialing services to a trusted company.
Medical billing needs a lot of effort and time. Over time, it gets difficult to compile all the data to prevent it from influencing the revenue. At that point, it is crucial to hire trained for handling and maintaining medical billing chores. That’s why physicians turn to medical billing companies to manage their billing services.
If a simple query on your search engine “medical billing companies near me” brought you to this page, then you are lucky. Read on to find out everything you want about medical billing and how to find medical billing companies near you.
What are medical billing services?
You should seek help from professional medical billing companies like ZEE Medical Billing to save your time and energy. An independent medical billing company provides its services to develop, submit and inquire about health insurance claims, which eventually saves up to a lot of your time.
Professional medical billing companies hire trained staff to provide the best of their services according to their experiences. A medical billing company also helps in following up on rejected claims and negligent accounts.
Why do medical practitioners outsource medical billing services?
Outsourcing medical billing services provides many benefits depending on the type of business you run and how you manage your workflow.
Some major benefits that outsourced medical billing companies can provide include:
- Profitability improvement
- Reduced costs
- Error reductions
- Improved workflow and stress-free practice with the office staff
- Timely claims processing
- Confusion alleviation while dealing with payers concerning company payment policies.
- Faster claim process
- Access to contact trained specialists
- Patients satisfaction
Moreover, to concentrate on the practice, physicians need to reduce the extra workload. So, outsource medical billing services can actually help physicians to concentrate on the practice.
Difference between Medical billing and Medical coding services
Medical billing and coding, both require patient’s medical records. Medical billing is actually the process of submitting and following up on the claims. On the other hand, Medical coding means to provide the Current Procedural Terminology (CPT) and International Classification Disease (ICD) codes to procedures and physicians respectively to be prepared for submitting claims.
Medical billers use software specially made for billing purposes. By entering the codes and information of patients, insurance claims can be easily filed. Some companies offer both services – However, some provide only medical billing services only.
Cost of medical billing services
Medical billing services costs vary between the companies. These costs are based on the total number of submitted claims, a setup fee, percentage of collection, and monthly charges. You can contact your local service provider for the pricing model individually – you can also search for medical billing companies near me over the web to find the results quickly.
Common methods for billing the medical billing services
- Hourly: Medical billing companies may perform the work at hourly rates.
- Monthly: Medical billers may charge monthly for their services.
- Per claim: To give away the services for claims, medical billers may charge a small fee for each claim.
- Per Provider: Claims are often handled through provider numbers.
- Collection percentage: If your billing managing company is looking after your revenue cycle – like AR collection, then you are expected to charge a percentage from the total collection.
A billing company may charge you with more than one of the above-mentioned pricing options. Like, to pay a monthly fee along with the percent on revenue collection.
The demand for sustainable and dependable medical billing companies has been raised with the increasing numbers of insurance claims. Among the best medical billing companies is ZEE Medical Billing, we provide numerous medical services such as medical billing, transcription, credentialing, front-office management, and telehealth billing. ZEE Medical Billing also ensures timely claims processing and submitting.
Get a free no-sting attached billing services quote from ZEE Medical Billing for your practice.