If you are looking for a new billing company, or thinking about switching companies, here are a few questions you should ask yourself:

• What do I need to look for in a medical billing company?
  1. Stability - The billing company must be an established business, not conducted from someone’s basement. The billing company must have enough staff to give your accounts the attention they require and reputable clients that are willing to give references.
  
  2. Knowledge - The staff must have experience in medical billing. The management should have extensive knowledge and should have solid credentials to back up any claim they make. Look for a Certified Procedural Coder to be part of the staff. This will ensure that they are a member of the American Academy of Professional Coders. Knowledgeable companies should rigorously participate in continuing medical billing education.
  
  3. Services - An ethical billing company simply will not charge excessive fees for any service they may provide. Also, be cautious of billing companies that charge excessively small fees for services, this may be an indication that the company is home-based or managed poorly.

          Renaissance Medical Billing is an established company, based in Chattanooga, TN, with over 17

          years medical billing, coding, and office management experience.

• What services should a billing company provide?
  Many billing companies offer many additional services other than collections. A good billing company must remain committed to their core business, which is collecting money for your practice. Additional services, if not managed properly, can take the focus from collections.

          Renaissance Medical Billing offers additional services at affordable prices, however, we are

          committed to our core business, which is managing your accounts receivable.

• How do billing companies charge for their services?
  For the collection services, billing companies charge a percentage of the gross collections. Beware of companies that charge a different collection rate for different insurance companies. The fee should be one single rate for gross collections from insurance receipts and any patient receipts that the billing company collected on.
  Billing companies may charge fees for additional services in one of two ways: a single fee for the specific service rendered or by rates by the hour. Beware of billing companies that want to charge you an additional percentage against your gross collections for additional services.

          Renaissance Medical Billing charges an affordable, flat rate for gross collections, and we will beat

          any established billing company's rates for extra services.

• What should be included as part of the package on collections services?
  A reputable billing company must provide the physician with monthly reports detailing activity for insurance and patient accounts. These reports should not cost extra. However, specialized reports requested by the physician could cost an additional, but, reasonable fee. A reputable billing company may charge you for consulting, however it should provide a list of what is considered consulting services and provide you a fee schedule for these services.

          At Renaissance Medical Billing, we offer a variety of extra services. Please see the "Why Choose

          Us" page on our website or call or email us for more information on what extra services we offer.

• What software does the company use?
  A reputable billing company will use a reputable billing software. There are many different billing software companies out there, but only a few actually provide maintenance and support. Be sure that your billing company uses software that has a proven track record for maintenance and support.

          Renaissance Medical Billing uses Misys (formerly Medic) billing software. Misys is a nationally

          recognized leader in medical billing software.

• What are sign-on fees and why do I have to pay them?
  Many, but not all, billing companies charge sign-on fees to help cover the cost of “bringing on a new client.” The billing company will figure the cost of billing for a new physician and double or triple this figure and ask that you pay it as a sign-on fee. Some reputable billing companies charge sign-on fees, however, they should be able to provide you with detailed reasons as to why you must pay the requested fee.
  
  You must understand that there is some cost for beginning the process of billing for a physician. The billing company will usually have to buy some additional software or may even buy hardware to help get the process started.
  
  A reputable billing company should give you a detailed list of items and additional services that your sign-on fee covers. Keep in mind that your sign-on fee should be used by the billing company to only help cover the cost of beginning the billing process for you. Beware of any company that wants to charge you thousands of dollars just to be your billing company.        

• How often should my claims get sent out?
  Daily. No exceptions. If a billing company doesn’t send your claims daily, you are losing money.

           We are organized, detailed professionals who have extensive knowledge of the business of

           medical billing. We have a unique business model that allows us to work your claims more

           effeciently than the competition, which results in a cleaner accounts receivable for your practice.

           A cleaner accounts receivable means improved revenue, cash flow, and profits.

• How many physicians does the billing company assign to each individual claims collector?

           Many billing companies assign two, three, or sometimes even more physicians to their collectors. This creates

           one of the biggest problems with the medical billing profession today. Specifically, struggling to call on

           claims.One of the most important tasks a billing company must do is call on any outstanding claim and check            its status. This is referred to as calling through an physician's accounts receivable.

           Every single outstanding claim on a physician's accounts receivable should be called on every month. This

           entails checking the status of, requesting payment for, and refiling the claim if necessary. If this is not

           completed on a regular, aggressive basis, the A/R will become inflated. Many of these claims can not be

           collected on after certain periods of time.

           At Renaissance Medical Billing, we do not assign multiple physicians to our claims collectors.           

           This enables us to work a physician's A/R balance much more aggressively and efficiently.

• How do I know that my A/R is being worked efficiently and aggressively?

           An effective billing company will identify coding concerns and billing problems while working accounts. As

           an issue arises that requires the phyician's attention, the billing company should be sending queries and

          requests for information to the physician's office. This is usually done via fax. The requests will be for updated

          information on patients or asking for clarification on coding issues from the physician.

          If your current billing company is not sending regular information requests and physician queries,           they are not effectively working your accounts receivable.