Top 10 Medical Billing Services 2019

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Read our buying advice for medical billing services

Buying Guide for Medical Billing Services

Introduction to Medical Billing Services

In the hectic ever-changing world of modern medicine, one thing holds constant: the need for medical billing services. However, thanks to new options, it is now possible to outsource the medical billing services function for your practice, allowing you and your staff more time to focus on building a sustainable, profitable and effective practice.

Services provided by medical billing services providers:

With this Buying Guide, you can learn what you need to know to make an informed choice among the variety of HIPAA-approved medical billing services available today. You can decide which features to opt in for, how the decision to outsource can save you money (around $4 per transaction) and what you can expect to pay for taking this task off your hands.

Medical Billing Services Benefits

It is estimated that a practice with 6,200 claims per year can save as much as $42,000 per year by outsourcing the medical billing services function. Your goal is to find a services provider that saves you more than what you need to spend on fees. This will occur when the provider can recoup what you are owed more quickly than you could on your own, reduce unpaid claims sent to collections, increase claim acceptance and improve compliance.

How to know if outsourcing is right for you:

Outsourcing Medical Billing Services

One question you likely have is "How does outsourcing my claims to a medical billing services provider actually work?"

While of course there may be small variances from company to company, in general you can expect a work flow similar to this:

In addition to this standard list of services, you can opt in for certain specialty services as you may have the need and based on what the provider offers.

Typically you can submit patient information to the billing service on paper, by email, via specialized software, using your mobile device or over the web. In general, electronic submission formats are preferable since they cut down on entry errors and reduce processing time. As well, they tend to be safer and more secure.

Other critical services to look for:

Choosing a Medical Billing Services Seller

Since there are literally thousands of sellers who will be eager to do business with you, you can benefit from using this checklist as you shop for the seller who offers you the best overall package.

How to determine if the medical billing service provider has expertise in the medical industry specifically:

Medical Billing Services Pricing

It is a typical industry practice for medical billing services to bill each client for a percentage of collections. Most often billing is done monthly, and the burden lies with the billing services provider to collect more so they earn more.

Industry averages:

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