Bill Sample / December 8, 2018 / Lessie Larson
Billing performance measurement is an integral part of medical practice billing process and a prerequisite to effective practice management. Systematic measurement becomes mission-critical with growth of billing complexity or outsourcing of the billing function. Traditional billing metrics are limited in scope and focus on claim submission process ignoring process imperfections on the insurance (payer) side. Modern computer technologies allow both productive measurement and effective action by the disciplined billing office to improve claim submission and payment processes. Using appropriate metrics helps improve policies and procedures shorten revenue cycle reduce patient complaints improve financial performance and compliance increase cash flow reduce bad debt identify areas of potential growth improve employee morale increase productivity and reduce costs.
All the better if he or she has some experience in the medical billing field. You can save money by preparing carefully before you meet with your lawyer. Start by making a list of things you want to cover in your contract. List all of the services you will be providing and how you charge for them. In addition to how you will charge you will want to list how and when you expect to be paid. Add the providers responsibilities to the list. List how you will receive the patient and claims information and what information you expect from the provider. Other terms you will want to cover are what happens if you dont get paid how either party can terminate the contract and what happens when you do term. There are really a lot of important issues that you need to cover - many potential situations to think about.
But we basically searched until we found a sample very simple contract and modified it for our use. For several years we told ourselves that it was fine and if it wasnt working out for the provider then it wasnt working for us either and we should move on and find new clients. It took us a long time to realize that in several situations our simple contract was actually the reason things were not working out. When you first start your medical billing business you have no idea of the things that can go wrong in a relationship with your clients so you do not know what needs to be included in a contract. Our first contract did not even specify the responsibilities of either the provider or ourselves. It is amazing we were able to find providers willing to sign our contract.