As with all services, there comes a time to evaluate whether or not you’re receiving the right service for your needs. We’ve put together a guide to help you evaluate your outsourced medical billing partner so you’re making the right investment. Review these essential aspects:
When partnering with any kind of outsourcing company, you should value timely and consistent communication between your team and theirs. Typically, a dedicated accounts manager will be assigned to your clinic. ORI assigns a main contact to each of our clients, so they have the ability to contact us with questions or concerns.
A low account receivables aging report supports a strong revenue cycle. When billers fail to follow-up on outstanding insurance claims or patient payments, they miss out on essential reimbursement. Your outsourced partner should prioritize A/R follow-ups as a part of their services to maintain a low percentage. ORI will maintain your over 90 days aging at no more than 10% of your overall billing.
Overall, a thorough evaluation of your revenue after a year of services will give you a good picture of your outsourcing partner. Are they helping your revenue cycle or adding more bumps in the process? They should be sending you reports as a part of their service, so gather those up as well. ORI will save you 10-15% overall, outsourcing saves money compared to keeping the billing in-house.
Now more than ever, digital tools are introducing time-saving solutions to a range of medical duties. In terms of medical billing, the right software will allow your staff to securely save patient info and appointment notes. Then those are sent on to billers, who will turn those into claims. ORI’s technology will be kept at a state-of-the-art level and current.
Effective medical billing can be backed up by data. Your outsourcing partner should be managing essential reports to show how their services are doing and status of claims. When you partner with ORI, your crucial business reports will be provided to you within 3-5 days of the final close date of the month.
Many providers lose revenue by failing to follow up on denied or rejected claims. A good medical biller recognizes the importance of dedicating time to reviewing and resubmitting those claims. With ORI, insurance rejections will be worked within 48 hours of receipt on average.
When outstanding claims need to be addressed, handing that task over to the medical billers saves your administrative team time. It helps with avoiding burnout and investing in your patient care methods. When you partner with ORI, patient calls are answered within 6 minutes or patients are offered an automatic call back on their account within one hour.
Outsource Receivables Inc. will become your trusted medical billing partner and support your revenue cycle on all avenues. Contact our experts to ask all of your pressing questions and get an assessment.