Slow payments or nonpayments can affect the longevity and success of your chiropractic business. If funds have been reduced, due to not having enough experienced staff members to aid with billing processes, you may want to pursue services that are offered through a third party.
In-House Billing Issues
Anyone who will be responsible for billing your patients will need to be up to date with coding requirements, billing amounts, and insurance policies. Hiring more staff members may not be the most cost-effective process. If you have a high employee turnover rate or if there are often fluctuations in how many patients you serve, you may want to seek an outside billing service that will charge a set fee each month.
In-house billing issues, including errors or the failure to follow up when a client hasn't paid their bill in full, can make it difficult to keep operations running smoothly. Upon assessing in-house billing issues, you may be convinced that you need the professional help that a third-party billing service can provide.
Billing Services
An outside service provider will assist with billing requirements that a small or large chiropractic practice relies upon. A service provider will feature billing software that will aid with generating bills that are itemized. A service provider will be trained to use chiropractic terminology and billing terms. A full-service provider can be hired to generate bills, mail bills, file insurance claims, and seek payments for past-due services.
First, you will need to provide insight into how your business operates. A billing service provider will need to know how many clients you serve on a monthly basis. A billing service may charge a percentage of the money that is brought in each month. This percentage may be equal to a value that is much lower than what you would be required to pay if you were to hire more office billing staff members.
Some clinicians rely on outside billing services when they have a lot of office appointments booked. One or more billing agents will address the billing needs that a business owner has. Files will be kept, which will reflect when a patient has paid their medical bills. Some service providers offer an appointment scheduling service too. This type of service will relieve you of many of the office tasks that you do not have time to conduct. This will allow you to focus fully on rendering chiropractic care services.
Contact a chiropractic billing service to learn more.