If you have not already noticed, three are a lot of medical billing services out there asking for your business, and not all of them have the best intentions. In order to help simplify the filtration process between a good and bad billing company, we’re going to tell you what we used to look for back in our provider days.

 1. Security

Choosing the right billing partner for your practice can be a stressful and intensive process. When the time comes to hand over your companies’ financial data, your mind should not have the slightest bit of doubt. Confirm with your billing company that they are HIPAA-compliant, and constantly updating their staff on fast changing rules and regulations like changes in procedure codes.

 2. Improving Technologies and Strategies

Another important factor to consider when sorting through the plethora of billing companies out there is to make sure they are using modern and contemporary billing software and strategies. No matter the billing company you select for your practice, odds are they use some sort of billing software to process your accounts receivable. A compatibility issue with this software can put a halt to your RCM, so even addressing the problem before you sign an agreement with your billing company of choice can save you time.

3. Specialty Billing

A common trend within medical billing companies is to have a “billing specialty” like the many practices they serve. Partnering your practice with a billing team that specializes in your field whether it be nephrology, cardiology, pediatrics, or gynecology means the billing staff is already familiar with billing codes and regulations for your most common procedures. Does the billing company have to be specialized in my field? No, they do not. Professional Billing companies can effectively bill for any practice, as their advantage comes from the mass amount of claims made, not so much the quality of each claim.

The relationship between providers and their billers should be as transparent as possible. It’s important to keep in mind that the relationship between you and your biller is mutually beneficial. Meaning, each partner benefits from the success of the other, so whichever billing company you do choose should be determined to bill accurately and efficiently.