Questions to Ask Before Selecting a Revenue Cycle Management Firm

by | Oct 31, 2016

From the business perspective, one of the most important decisions you can make for your practice is to select the right revenue cycle management firm. When going through the process of evaluating which company makes the most sense for you and your objectives, you will have to do some research to find the one that is the best fit.

Keeping that in mind, there are several questions to ask before selecting a revenue cycle management firm. These range from those clarifying what objectives can be achieved to ones concerning the experience and qualifications of the company you are selecting. ¬†After all, this is your Practice’s revenue that we’re talking about.

This is a major decision for you, and your practice. You want to make sure that all processes are handled in a prompt, professional manner. Additionally, your patients need to be able to trust that the firm you use is compliant with acceptable guidelines and standards. Accordingly, questions you need to ask include:

  • How long have they been in business?
  • How many claims/bills do they process annually?
  • Do they have a proven track record?
  • Are they experienced in your particular specialty?
  • Do they offer a dedicated account executive and support team for you?
  • Do they offer training programs, performance coaching, and reporting?
  • Is the organization HIPPA compliant?
  • What security measures and protocols do they have?
  • How is their system hosted?
  • Will you have visibility of all of your data and metrics?
  • Will your practice have to maintain and update software, or is their system cloud-based?
  • What specific services will you receive?

These are a lot of questions, but they are important ones you need to ask in order to choose the right firm for you and your practice. If you would like help navigating these waters, Independent Networking Group is here for you. Simply give us a call at (260) 927-1266 or take advantage of our online form to connect with us and find out how we can help you and your practice.

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