It’s normal to be concerned when it comes to entrusting your medical billing to a medical billing company. Often times, if you have a medical practice that you’ve built up yourself, it is common for you to feel unsure about entrusting your billing to someone else and removing yourself from that aspect of management.
Medical billing companies, though, can be a great asset to your company, and while it may be difficult to hand over control to them, medical billing companies often help you get your reimbursements more quickly and efficiently, and in the long run, can even save you money.
The great thing about medical companies is that initially when setting up your service you and the company come to an agreement and write up a medical billing service agreement. Service agreements are vital when services are being provided, as they offer legal backing and standards of service for both the company and the client.
In your medical billing service agreement, the responsibilities of each party involved will be laid out, and you will have all the information you need so that you know what to expect during the duration of your service. Your service agreement will lay out what you need to provide to your medical billing company and when, and also will lay out the standards the billing company will be held to.
For example, if you have a time frame that your insurance claims need to be submitted by, this information will be laid out in the agreement, and the medical billing company will be obligated to meet your standards of success, which they will also be aware of with your agreement.
Medical billing service agreements, like all service agreements, are vital to avoid future conflict. If you have a service agreement, you are automatically avoiding the ‘he said’ ‘she said’ that could potentially pop up in the future. With everything laid out before the service period, everyone knows what to expect, and all the pertinent and vital information will be laid out for each party to review before they commit to this partnership.
Medical billing service agreements can add a layer of comfort to you if you are on the fence about outsourcing your medical billing to a specialized company. With a service agreement, you are not blindly letting someone manage a vital aspect of your business, and all of your standards and expectations are laid out and legally must be met, per the terms of your agreement.
Making the choice to outsource your medical billing to a medical billing company can be a difficult choice to make, but the benefits of outsourcing can far outweigh the aspects of outsourcing that may make you uncomfortable. Having a service agreement with your medical billing company it’s not only crucial to having a productive, sage experience with a medical billing company, but it may serve as a way to ease your mind about allowing an outside company to help manage part of the company that you’re worked so hard to build.
