A case study released Thursday outlines the top eight priorities for physician practices in choosing a medical billing company.
The case study, titled "Why Bigger Isn't Better: Finding the Right Size Billing Company," interviewed 10 physicians, including radiologists and pathologists, medical directors and CEOs of physician practice groups. The study was released by HealthPro Medical Billing, Inc.
Physicians who participated in the study said they first consider the size of the billing company. They recommend going with a smaller company because it would be easier to contact if problems arise.
The physicians also say the company should be trustworthy.
"Make sure you trust who you are working with. The executives at our billing company are three of the most honest individuals I've met," said John Ewonus, DO, in the case study.
Physicians also recommend that the billing company specialize in the practice's area of expertise.
"There are too many payer, legislation and Medicare issues for a generalist billing firm to stay on top of," said Mark L. Benson, MD.
The company should provide value as well, and should be able to go after charges of all sizes.
"A lot of billing companies go after the 80 percent of receivables that are easy and then move on. Make sure you're dealing with someone who goes after the remaining difficult-to-get 20 percent," said Darlene Weyer, DO.
Physicians say a billing company should be able to provide vital information in its reports that is easy to comprehend and will help to manage the practice better. They said it's also important to choose a company that's stable, in that there's not a lot of staff turnover.
"You don't want a bunch of new people just being trained to handle your money," said Eric Bostick, MD.
Physicians also pointed out that the billing company should be easily accessible - with access to a person, rather than a computer.
Finally, a medical billing company should be able to provide ease of transition for the practice.
"Choosing the right billing company was the best decision we have ever made," said Benson.