ADVOCACY

Standard of Excellence

Ultimately, you want a billing company that specializes in chiropractic and meets a certain standard of excellence. Look for an established organization that:

• Has a performance-driven track record in the industry.
• Is built upon a flexible business model that can easily adapt to your growing/changing needs.
• Maintains a well-defined channel for open communication between your businesses.
• Is staffed with experienced, knowledgeable, industry experts with the training and integrity to treat your patients with civility and respect.
• Appreciates and proactively supports the reality that happy patients give quality referrals that keep a practice moving forward.

How do you know which company to trust with your cash flow?

Although choosing the right billing company for your practice is an important decision, it doesn't have to be a daunting process. Use this questionnaire to expedite your evaluation of potential vendors.

Billing Services Provider Questionnaire:

• How long has the company been in business? (Note that free trials are typically only offered by start-up organizations. Companies that have been in existence for more than five years will tend to be more reliable and less likely to "go-under.")
• What is the size of the staff? What percentage of the staff is dedicated to client billing services?
• Avoid the lure of promises of lower percentages (pitched as "cost savings"); ask for specific examples of how the company will earn you more money by increasing reimbursements.
• If a home based business, ask if the person is working full-time or supplementing income on a part-time basis.
• How does the company or individual ensure constant processing of claims (coverage for vacations, sick days, training time, etc.)?
• How does the company keep up with changes in coding, rules, and regulations?
• Ask the company to explain how cash flow affects the growth and survival of a practice.
• How do they charge for their services? What does that include?
• Do they charge for extra services? If so, which ones?
• Does the company submit secondary claims? (If not, this is a red flag)
• How familiar is the company with your specialty?
• Are they HIPPA compliant?
• What steps do they take to protect your patients' vital information as well as your confidential information? How do they protect your practice from identify theft and/or fraud? (sound methods include sophisticated encryption software, daily shredding, locked office space)
• How often do they upgrade their software?
• Ask for a detailed explanation of their billing process.
• Do reimbursement checks come to the billing company or the practice? (They should come to the practice. Protect yourself from embezzlement.) It's a good idea to have monies sent directly to your bank account through electronic funds transfer.

Final Considerations

Remember that it is not always wise to minimize operating costs at the expense of income and equity gains.