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This article is about a potential employer’s view on medical billing schools. My experience has been that they simply are not worth the time and money for the students. I have interviewed many medical billing candidates from many medical billing schools and I do not find that the education makes the individual a more attractive candidate than other inexperienced candidates.

One of the key advantages of billing outsourcing, when it is done correctly, is the clear alignment of incentives between the practice and the billing company.

It has been accurately stated that you cannot manage what you do not measure. This is particularly true in the arena of medical billing denials. Without a strong Revenue Cycle Denial Management system in place you cannot properly manage this critical element of medical billing. If you are not managing your denials then you are most likely leaving more than 20% of your revenues uncollected.

One of the most important things in billing is to create and follow a very structured plan that can be measured each step of the way. Remember, if it cannot be measured and monitored it cannot be improved! One key element of this plan must be how to consistently and reliable create clean claims.

All 50 states currently have a Clean Claim Law. The effectiveness of the laws varies dramatically ranging from South Dakota which provides for no financial penalty to Texas where the penalty can go up to a requirement on the payer to pay billed charges; that’s right billed charges.

Medical billing is a critical service that supports healthcare providers by submitting claims and collecting payments from insurance companies and patients. Medical billing specialists need to be experts to guarantee that the bills are in full and in a speedy manner. It is quite common for over 20% of a practice’s collectable revenue to remain unclaimed because of improper coding and ineffective collection tactics.

Medical practices lose money each and every day (often over 20 percent of their realizable income) because they are not employing medical billing specialists, technologies, processes and management that can stand toe-to-toe with the insurance companies.

Intentional and systematic inefficiencies in the insurance companies’ medical reimbursement processes lead to inflated medical costs. Improved medical billing processes from providers and medical billing services can play a significant role in decreasing this component of healthcare cost.

Seven to over ten percent of your practice’s revenue is being lost if your medical billing {service|company} is not systematically comparing your insurance payments to the amounts allowed in your payer contracts. Any competent medical {claims|insurance} billing service should offer this feature as part of their standard service.