The Top 100 Medical Billing Company Reviews
If you need billing help and are looking for the best physician billing options, our vetted reviews of the top billing service choices is the perfect resource to help you find the best medical billing company in your local area. Just select a specialty and a location, and the top rated 2021 medical billing selections are organized for you––ready to contact and request detailed information.
By state and city, we review Revenue Cycle Management services that offer specialized billing expertise in Primary Care & General Med, Pediatric, OB GYN, as well as Surgical coding for radiology and neurosurgical.
Outsourcing: The Good, the Bad, and the Ugly
Should small medical practices outsource their insurance billing? Apparently, most of them are ready to do so. According to the latest Becker ASC Review that reported a whopping 90% of solo and small physician practices who are using in-house billing and collections, are actively considering outsourcing some, most, or all of their medical claim filing activities within the next two years. The challenge? To make or obtain a short-list of the top rated medical billing options available in your area.
Our top reviews start with a tough criteria of ultra high standards that we apply to local and regional service-companies to provide you with a short-list of objective, reliable, and vetted 2021 medical billing references to contact for details, a free consultation, and a quote.
Making the Decision to Outsource
Off-loading mission critical tasks like insurance billing can make sense for smaller practices that are feeling the squeeze of rising operational costs, shrinking reimbursements, and increasingly complicated regulations and compliance. The decision to outsource medical claims filing can allow your office to concentrate more on caring for patients, while allowing revenue cycle management experts to stay focused on daily tasks, keeping up to date with coding changes and documentation requirements, and following up on rejections and appealing denials.
Smaller offices often do not have the resources to hire and pay an experienced billing manager who can effectively oversee a billing department. And if a less experienced person (which is often the case) is tapped to do the billing and they get distracted by other responsibilities, this will affect follow up which then causes cash flow to suffer.
Billing companies have teams to handle tasks. Furthermore, outsourced billing obviates expensive and time-consuming ramp-up and training for the practice’s staff—these RCM companies cross-train coding and billing agents for numerous medical specialties and payer-specific rules, as well as state/federal regulatory changes and other issues that affect the filing of clean medical claims.
Having an elite team of billers also translates to faster claim filing, faster payments, and fewer denied claims. When denials do happen, a dedicated coding and billing team can more quickly appeal, track, and resolve unpaid claims faster than most practice staff can.
Weighing the Costs
While most vendors charge a percentage of collections along with a monthly minimum, Revenue Cycle Management charges will always vary depending on the specific needs of the client. Practice managers must weigh the pros and cons of outsourcing, and not just focus on the “percentage of collections” costs.
Although paying a third party to manage billing usually costs far less than paying staff salaries and benefits, practices must understand all costs, inside and out, and read vendors’ service contracts carefully to understand all associated fees. Most billing companies take a percentage of a practice’s collections, which means what a practice pays varies as monthly billing volume increases or decreases.
Transparency & Team Performance
There’s also the issue of trust/control. Practices that have reliable, seasoned employees handling revenue cycle management might be reluctant to “fix” a system that isn’t broken. If an office does opt to outsource, our reviews rate and recommend the top RCM companies, ones that allocate a dedicated billing team to each account so that the billing or practice manager have daily or hourly contact with the billing team staff and know exactly what steps to take if and when a service issues arises (such as software malfunctions or power outages). Our reviewed RCM services provide this information up front and they encourage their client-practices to test it.
How to Tell If You Need Help
Do you find yourself wondering why A/R is so high? Are you disappointed over collected revenue? Perhaps you know beyond a doubt that you’re not reaching your full practice potential but don’t have the bandwidth to maximize your medical billing efficiency: Whether you’ve recently lost a biller, have mounting A/R, or your practice revenue is out of control––or you’re just certain that you could be earning more, then outsourcing your insurance claims to the right RCM partner can put you back in control of your practice’s finances.
Tips on Getting It Right
It may take some effort to convince your practice’s physicians that a vendor is billing to the highest level. One way to reassure skeptical colleagues is to require the vendor to provide login credentials to the billing system so you can run reports on claim filing and collection activities, and to verify key performance indicators.
Your outsourced billing service-level-guarantees should be clearly articulated, well understood, steadily maintained, and they should include access to the financial, revenue, and productivity reports that allow you to stay confident that your outsourced effort is producing a higher collection rate, at a far lower expense than that of doing your medical billing in-house, on your own.