Upgrading your billing service may seem quite daunting, but this shouldn’t hold you back from a new, more technologically advanced outsourcing service. Over time, your service is going to be bad for the bottom line because of all the anxiety-inducing time spent with billing and unpaid reimbursements. Unfortunately, we often try to avoid short-term pain even if it results in long-term benefits.
We understand how brooding the transition from self-billing to an RCM/Billing Service can be. That’s why we have devised this simple guide on what steps you need to take if you’re planning on making the upgrade.
10 Simple Steps When Upgrading From Self-Billing:
- Make sure welcome packets are completed in a timely manner
- Provide a list of insurances with which you are currently credentialed
- Identify the authorized signee for each insurance your provider and/or group use
- Provide login credentials for PECOS and NPPES
- Provide a list of ICD-10 codes billed out by your legacy billing service
- Provide a list of CPT code billed out by your legacy billing service
- Provide reports from Practice to include Diagnosis Table, Insurance Plans, Services (CPT) and referring MD’s
- Decide whether or not you will be using a lockbox
- Calculate the average number of billable encounters per day or month
- Continue using your legacy billing service for 90 days to run down A/R
If you follow these ten simple steps, transitioning from self-billing to an RCM/Billing Service will be a lot easier. It is important to run down A/R in your legacy service because A/R is not part of the information imported from your legacy billing system during conversion. It is also important that you properly set up each insurance in the new system. Also, know that if the incorrect person signs the EDI/ERA agreements, there will be billing delays.
For a complete and thorough walk-through guide of how each step takes place, and exactly what each of them means for your practice, you can download our White Paper: How to Efficiently Transition From Self Billing to an RCM/Billing Service. This guide is designed to help you strategically analyze your current self-billing situation and outline the steps needed to transition to a third-party RCM/Billing Service.
In addition to this white paper, ChartLogic will be hosting a webinar event on Wednesday, August 30th, 2017. During this webinar, a ChartLogic Billing Specialists will be discussing the white paper in detail and will uncover all of the important facts so you and your practice can be prepared when making the billing upgrade. To register, click here.
Large Increase In Outsourced Billing
An increasing number of medical practices are now outsourcing their billing to save money and have more effective and efficient billing. They have learned that the benefits make up for the momentary troubles of transferring their information. Indeed, MBA Medical Business Associates gives five great reasons why you should consider doing this yourself. For one, it will result in less stress. You will also be able to get your money faster even as it lowers your costs. And because they are trained specialists, they stay on top of industry changes.
These are all features of ChartLogic. Our Medical Billing and Revenue Cycle Management services use accurate billing practices to increase financial performance, allowing you to worry more about your patients than your billing.