FAQ
Q. How do you charge for medical billing services?
A. Our fees are based on a percentage of payments collected, and are all-inclusive — there are no hidden charges.
Q. Can you really save me money?
A. We’ve been able to increase collections for most practices from 10% to 20%. This will more than cover the entire cost of our services, as well as save you money on your other billing-related expenses (such as employee salaries and telephone bills). The bottom line is that you will avoid the hassle of billing and have more money available in the bank.
Q. Are you HIPAA-compliant?
A. Absolutely. M.L. Medical Billing is fully compliant with HIPAA requirements and standards.
Q. Where do the checks go?
A. Payments are always sent directly to your practice or to a designated lock box account. All we need is a copy (or original, if you prefer) of the EOB to properly credit the account.
Q. What kind of service will you give me?
A. We’ll let our references do our talking. We will assign a dedicated Account Executive (or more than one, depending on the size of your practice) to your account. This person then handles all aspects of your billing needs — entering charges, submitting claims, sending patient statements, following up, and answering patient billing questions, and is also the liaison between your practice and us.
Q. I’m not in the Chicago area, or even in Illinois. How would I submit my information to you?
A. We will set up a courier account for your practice with a company such as UPS, and have your billing information picked up on a regular basis. This service is included at no additional fee.
Q. What kind of information do you need from my practice?
A. To make things easier and more accurate, we’ll design an easy-to-use superbill for you, or work from your existing one. In just moments per encounter, you’ll be able to give us the information we need to properly submit your claims. (For new patients, or patients whose demographic and insurance information has changed, we ask that you give us a copy of their registration sheets and copies of insurance cards.)
Q. I would like to be able to access my practice data online. Can I have secure access to the data?
A. Yes — and that’s not all. Our system allows you to look up information and even run reports and patient ledgers.
Q. Who does the patient call with a billing question?
A. Our toll-free number is printed on your patients’ statements, and a dedicated M.L. Medical Billing Company representative will handle all billing questions.
Q. How do we make sure managed-care plans pay us according to the contracted rates?
A. This question is a critical part of any Accounts Receivable follow-up, and we understand why you’re concerned about constant underpayments or payments at non-contracted rates affecting your patients’ balances and your revenues.
To address it, M.L. Medical Billing requests copies of your practice’s contract and related fee schedules when we’re setting up your account, and we update our system’s profiles for each of those contracts. Then, at time of payment posting, we monitor expected reimbursement and appeal any underpayments and/or denials. When necessary, we directly contact your managed-care representative to resolve any problems. We also keep you aware of these problems and their resolution every step of the way.
Q. What kind of reports will I get?
A. There are a variety of reports available.
- The standard report package includes comprehensive monthly closing reports that confirm productivity such as the amount of charges, insurance payments, patient payments, and aged receivables.
- Practice-specific reports are usually available on request, as well, and can greatly enhance your ability to make fiscally responsible business decisions.
Q. Are you a collection agency?
A. No. M.L. Medical Billing Company focuses strictly on billing and follow-up. However, we pursue delinquent insurance claims and continue to work on them until payment is received. Our procedure is to send three statements to patients with follow-up phone calls. If after the third statement there is no response, we send a 10-day notification letter. At that point, it’s up to you to decide how to pursue collecting the balance due (e.g., outside collection agency, bad debt write-off).
Q. What if the patient is on a payment plan?
A. We’ll send as many statements as it takes to get the balance paid as long as there is patient activity on the account.
