Medigistics Shares Checklist for Establishing Billing for a New Medical Practice
(PRWEB) July 25, 2013 -- The medical billing experts at Medigistics, leading provider of medical billing and accounts receivable management solutions, are the go-to professionals for medical billing in Columbus, Ohio. The multi-faceted revenue cycle management company specializes in office-based medical billing, and hospital-based medical billing. Medigistics’ areas of expertise include nephrology billing, behavioral health billing, pain management billing, anesthesiology billing, and radiology billing services.
The professionals at Medigistics understand the complex processes involved in establishing medical billing at a new medical practice in particular. To help medical offices across the country start up their billing, Medigistics put together a quick checklist for medical practitioners to use to ensure their billing runs smoothly.
1. Give yourself plenty of lead time. Given the number of things that must accomplished prior to opening your practice the more time you have the better.
2. Select quality advisors. A good accountant and lawyer can help your chose the type of entity that fits your practice. LLC, C-corp, PSC, etc. Make sure to retain your CP575 or 147c form.
3. Contact your professional liability insurance carrier to secure malpractice insurance.
4. Decide whether you will be doing your billing In-house or outsourcing it to a Billing Service. In either case you should select 2-3 vendors or providers and decide which will work best with your staff, practice specialty and practice size and needs.
5. Will you be using an EHR to start or add one later? It can take months to set-up and deploy an electronic health record system.
6. Determine where payments will be directed to. You can use the services of a bank lock box or have the payments directed to your office. It’s important to choose wisely because this address is not easy to change later.
7. Credentialing is the foundation of your practice and needs to be done correctly. There are hundreds of payers in the US that you may need to get on panel with. Remember this is a new EIN number and any provider numbers you used in the past are most likely no longer useful. You should start the process by submitting applications to Medicare and Medicaid. At this point you will need a physical office or practice address.
8. Once payers have added you to their panels you will need to enroll with a claims clearinghouse so that you can submit electronic claims and receive electronic remittances. You will also want to enroll in the payers electronic payment systems so that you can receive payments via EFT.
9. Decide who will process credit card payments for you. Do you need a swipe device in your office? Do you want patients to be able to pay online 24/7?
10. No matter the quality of the billing process some patients will not pay their portion of your bill so you should select an outside collection agency to follow-up on these accounts.
For revenue cycle management solutions specific to your company please contact Medigistics at 1-800-282-0738 or http://www.medigistics.net to speak with expert today.
About Medigistics:
Medigistics, an employee owned company based in Columbus, Ohio, is a full service multi-specialty medical revenue cycle management solution. We are expert at converting healthcare provider's hard work into revenue for their respective business. All services for our clients are performed by our employees in our office in Ohio. To learn more about how you can put our 52 years of experience to work for you contact us at 1-800-282-0738 or visit http://www.medigistics.net.
Gary Broughman, Medigistics, http://www.medigistics.net, 614-430-5745, [email protected]
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