5 Questions to Ask Before Choosing a Cardiology Billing Partner
Revenue from cardiology billing services has decreased significantly due to recent medical reforms. Services like Echo, including Doppler and color flow, have undergone significant changes, as have other categories. Understanding the new code set requires proper training, which in-house billing and coding teams at clinics often lack. No wonder outsourcing cardiology billing to a third-party RCM company is a pragmatic option. Unfortunately, a lot of cardiologists like you don’t know how to select the perfect partner. In this article, we are going to help you with 5 questions that you should ask your potential billing partner:
Here are five key questions to help you pick the right cardiology billing company:
How much experience and what reputation does a cardiology billing partner possess?
When picking a cardiology billing partner, you need to check how experienced and reputable they are. Find out how long they’ve been around and if their clients are happy. This shows they know how to keep their clients satisfied.
Just looking up reviews quickly isn’t sufficient. Some people might not be honest and could cause problems. So, take your time to research your cardiology billing partner well.
How do cardiology billing partners handle reports and analytics?
You should ask them about their delivery method and how they divide their work among their staff. Some may assign you a single biller to focus on your needs, while others may use multiple billers to complete tasks more quickly.
It’s important to understand how they report and measure success or denial rates. Find out if they use industry benchmarks like MGMA for performance measurement.
Before signing a contract, make sure you understand their communication style. This includes how quickly they respond to your calls or requests, especially in emergencies. You should receive regular updates on your claims, either weekly or monthly. Also, you need to have access to an online portal. Ask about the frequency of audits and how they manage performance reviews monthly.
What technology does your cardiology billing partner utilize?
The cardiology billing company that you are going to choose must stay abreast of the latest EHR systems. To make sure patient accounts and financial data transfer smoothly, they’ll use software that works with yours. If not, ask if they offer training to help you get used to their program. Also, find out how they fix technical issues and what they suggest for improving or automating procedures.
How does the cardiology billing service provider handle compliances and regulations?
Every healthcare company follows a specific set of guidelines. You should know if the company complies with the laws and regulations. The outsourcing company’s coding staff need to have complete clarity on ICD-10, HCPCS, CPT and revenue codes. Ask if the company is ISO certified, and if they comply with HIPAA (Health Insurance Portability and Accountability Act).
Do they offer 24/7 support?
When you are choosing a billing partner, make sure they are very prompt and transparent about their communication with you. An ideal RCM partner would provide 24/7 support for you.
Additionally, there are RCM experts who are known for catering to all your billing needs in different time zones. In fact, there are experts like Sunknowledge providing 10% buffer resources to be on top of your billing task in today’s competitive era.
Outsource cardiology billing to Sunknowledge:
Our vast niche experience, competence, and flexible working structure are what make us outrank our competitors in the healthcare domain. Furthermore, we offer customized solutions to meet your exact requirements and objectives. Leverage our cutting-edge services ranging from cardiology billing services and coding, and denial management to end-to-end Revenue Cycle Management solutions and enjoy the perfect cash flow with optimized patient experience.
