When you run a busy medical office, one of the biggest challenges that you face is billing patients for your services. Not only do you have to bill patients or their insurance companies, but you also have to operate a complex financial administrative service, and even make claims to collections if you can’t get the right finances. If you are struggling to handle all of these requirements, and want to make sure that your medical practice doesn’t suffer from financial losses, you should consider the reasons why you might need to hire medical billing companies in California like Human Medical.
Streamlining Your Finances
One of the main reasons why you should hire a billing company is that they manage all of the different varieties of medical billing, including providing the correct codes for your medical services, tracking payments and billing processes, and filing the correct paperwork for insurance companies. Not only that, but they will also assist you with Accounts Receivable and collections so that you don’t have to waste the time of your medically trained staff in chasing patients who are overdue on their payments. Streamlining your services and automating basic tasks reduces the costs of collecting from patients, increases the chances of getting insurance claims, and can generally improve the relationship between you and your patients.
Getting The Money For Treatments
Your medical office needs to bring in money to keep itself going, but the medical revenue cycle is extremely complex, and sometimes patients will simply not pay the bill. While in the past, denials from insurance would result in a less than five percent loss, current insurance claims may have as much as a 35 percent rejection rate. This can make claiming your money back extremely difficult and can lead to shortfalls and patients who are simply not compliant with your payments. By managing your patients more effectively, medical billing services help you to get the payment for treatments you have given to patients at your medical practice.
Better Financial Security
Some doctors are reluctant to outsource their billing to third-party specialist companies, but this can actually help you to improve your security. A medical billing company is HIPAA compliant and is aware of changes to medical billing regulations so that you don’t have to keep up with the latest changes to the regulations yourself. This means that everything is done more efficiently, more accurately and in full compliance with the law.
Find An Expert Medical Billing Company Today
If you decide that you want professionals to help you bill patients for treatments, then you may want to turn to Human Medical today. We are one of the top medical billing companies in California, efficient in all privacy and security compliance regulations, and able to keep your patients and your own data confidential while still being accurate with billing and applications to insurance companies. For the best in medical billing, reach out to our team today using our online form or call (888) 675-6895 now to discover what we can do for you.