Key Performance Indicators To Judge The Effectiveness Of A Medical Billing Services Company

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You have come to a conclusion to opt for a medical billing services company, that’s great! And by navigating here, on this guide on how you can evaluate a medical billing services company, you have moved a step forward.

That said, there are many things a medical billing services company should carry to attract or even convert your attention. Out of them, the experience tops the list. It is because any medical billing company that is new in the field or hasn’t been into the complexities of the industry can not perform beyond or to your expectations.

While Clini Cast is an absolute opposite of them, it is also equipped with everything it takes to manage the revenue-cycles of your practice. And what does it take to do so? Let us get to that. 

  • Data Protection

There is this term called PHI (Protected Health Information), which comprises the information of your patients, their payments, and your services that they have yet availed. Your medical billing services company should be able to ensure the protection of PHI. While they may claim to secure that, and they may as well do, you need to inquire how they will do it. 

Their approach to protecting the PHI and everything relevant will tell you how secure they are, and to what extent they deserve your trust. 

  • Data Access

It doesn’t matter what data you need to access. It can either be your patients’ or the data of your claims, like how many have been approved, rejected, followed-up, etc. Your medical billing services company should not, at any cost, stop you from accessing them. After all, it is you they serve and charge, and you hold every right to measure their effectiveness in fulfilling their claims.

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If you are not following up on the data, there are wider chances that your practice might soon wave the red flag. And we, Clini Cast, will not ever want that. We believe in data transparency, and provide you with the access to go through every single document to date, and that we have worked on.

Despite going downwards, your practice will flourish as you would feel a new wave of freshness in your operations, and a gradual spike in the revenue. 

  • Reporting

A perfect medical billing services company holds itself accountable for whatever work it has done since the day it joined hands with you. And the accountability should reflect in the reports they either send you monthly or weekly. 

These reports should state the difference clearly. After going through the reports, you should be able to determine if you are prepared to go ahead with them or should stop right here. If they are managing your revenue-cycle optimally, it should be the max of optimal, and if not, it must be a break-even level. Otherwise, your practice will only be devoured by the loss. 

  • Adaptability

The medical industry is prone to changes and developments. Sometimes there appears to be not a single change, and all of a sudden, you wake up to a new development every other day. As a result, a medical billing services company should be able to keep themselves updated with the changes and challenges. 

No one knows how complex a case may appear out of nowhere, and if the company isn’t ready, it will only be pulled back, and ultimately your practice with it. They should be working on how they can bring more value to their clients, in this case, you. And if you want to know about that, you should ask them right away about this. 

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If you are satisfied with their answer, do not think twice. If their answer leaves a pinch of doubt in you, you should take some time to finalize your decision. However, we are sure you wouldn’t have to take it with Clini Cast.

  • Awareness

Since it is you hiring a medical billing services company, you should know of all their procedures and practices they use to fulfill their services to you. It is obvious you wouldn’t know all that by yourself, they should keep you updated with all of this. 

If you have not received such a hint from them, you should go and ask how are you planning on managing my billing cycle, and catering to my revenue? And their answer should come professionally, very very professionally. 

Not at first only, every time they induce changes into their procedures and processes, they should update you with them because it is one of the most important things a medical billing services company should carry. 

Conclusion

These five qualities aren’t all you should be looking for in a medical billing services company, they vary from the size of your practice to your customer database. It is just to give you a general idea about what should be your criteria in opting for a medical billing company.