How to Insure Payments are Received for Medical Billing Services

by Sonya Blackmon
(Atlanta, GA)

Hi,

I am starting my billing company and would like to know what do you do to ensure that you receive payment for your services that you provide to physicians. I would appreciate any feedback and insight that you may have regarding this matter.

Sonya,

We base our invoice on the payments posted - both insurance and patient payments - usually on a monthly basis but it can be bi-monthly if the client prefers. Our medical billing software - we use both AltaPoint and Lytec - allows us to run a report showing all of the payments received. Our physicians receive all of the EOB's or Remittance Advice from the payers and patients from the patients. They provide us a copy of these and we post from these.

We then determine the fee for our medical billing services based on the negotiated percentage or terms worked out with the client. I always include a copy of this report with the invoice. I use Quickbooks to create the invoice.

I try to clearly define the terms of payments - and any penalties for late payments - in our contract - there's a sample on on our web site if you're looking for a starting point. I've been blessed not to have many problems getting paid on time. Occasionally one of our clients will be a few weeks late. But usually a friendly reminder phone call is all it takes. I guess they realize we are the key to getting them paid so paying the medical billing service promptly is a priority for the physician. I guess we could always threaten not to submit claims if they are way past due.

My feeling is the physician has received payment for their services - and we billers work hard to make sure they get paid promptly - and I expect to be paid in a timely manner for our services. If we get to the point where we're having to quote and invoke contract terms, that's usually not a good client and I'll choose not to do business with them. As you well know we have a lot of expenses to be paid associated with getting the physicians their payments so I expect timely payment from them and let them know that.

Hope this answers you question - if not just let me know.

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Your Questions.


Copyright 2017 All-Things-Medical-Billing.com