Article provided by: pcsrcm.com
When we think of a hospital, we usually see medical doctors in their white, immaculate coat leading an organized litter of nurses as they stride urgently through the crevices and hallways of a hospital building to save the life of a man stretchered off for emergency treatment; or to even resurrect the dead, as the siren wails ominously. What a perfect picture! But the workings of a hospital facility go beyond this. It’s much more complex.
Can you do without Medical Billing Companies?
While the medical personnel mentioned above are the lifeblood of any medical facility, they can’t do their work without an ideal administrative system of billing, record, and finances. Without this structure, the hospital may be overwhelmed with providing patient care alone, while the record and financing department (which keeps any business running anyway) lies passive and the whole institution crumbles.
What does a Medical Billing Company do?
A medical company renders independent billing services to other m hospitals to process, submit, and follow up on their patients’ health insurance claims. This helps to save medical or clerical staff time and stress. You might have heard tales about hospitals turning down incoming patients because they’ve no money or adequate insurance cover to commence their treatment. Or have you ever visited a Houston hospital before, and you got delayed because they could not find your Houston medical records soon enough? As a practitioner, you may find the preliminary process of filing insurance claims frustrating for your work.
Are there any important factors to consider when choosing a medical billing in Houston, TX?
Medical record and billing is a huge work on its own. Some hospitals delegate this critical task to in-house staff but find out they can’t do it effectively. When claims are not processed accurately and promptly, they can take a toll on the record-keeping, financing, and ultimately the hospital’s revenue.
So whether you’re a medical consultant running a small private practice or your hospital is a massive facility, it’s always a wise decision to employ the services of a medical billing specialist or medical billing companies in Houston, Tx. Bear these five things in mind when you hire a medical billing consultant or company.
- Know the difference between a medical billing company and medical coding service
Many practitioners often mix the two, but they’re entirely different. A coder helps assign standard codes to individual services in preparation for submitting claims, while billers do all the clerical and administrative work of processing, presenting, and executing claims of patients. Some companies often merge the two, but you need to ensure that they render each as effectively and efficiently as possible. If possible, make sure any company you hire for your billing services is top specialists.
- Are they HIPAA Compliant?
The confidentiality of Doctor-Patient information, exchange, and communication is held with the greatest sanctity; you should exercise thoroughness in hiring a third-party medical billing consultant. With the increasing innovation of tech and cyber-attack, the law and HIPAA regulations are stronger. Any leak of private medical record privacy could expose you to litigation. Ensure you have this in mind when you choose medical billing companies in Houston, TX.
- Find out how much they charge?
An ideal billing company charges nothing more than 6% of your net receipts. Service cost is the ultimate factor to consider after their professionalism and transparency. It’s essential to choose a company whose billing wouldn’t hurt your revenue.
- Do they offer any added services?
Do not overlook value-added services before you agree to hire. They can go a long way to make the whole engagement rewarding and help you get returns on your investment. Many companies promise to offer them, but you should still investigate properly. For instance, at PCS Revenue Cycle Management, we provide the following services to maximize your reimbursement and let your facility focus on helping to nurse people back to life.
- Verification of benefits;
- Utilisation management;
- Billing & collections; and
- Payment posting.
The idea behind medical billing services is to support a hospital facility in administering the non-medical part of caregiving to save the regular staff time to focus on their primary duties. When choosing a company, make sure they’re efficient in accuracy and processing turnaround speed.
Contact PCS Revenue Cycle Management to consult with a full-service medical billing company: 281-937-4089.