Any medical billing service not satisfied with their clearinghouse must seriously consider changing to a cost-free clearinghouse. Want to enhance margins? Wish to pump up your bottom line? Wish to reduce your charges and enhance volume? Then a cost-free clearinghouse just might be your ticket to reaching your monetary objectives.
Our medical billing service just recently made the switch from a fee-based clearinghouse to a free-based (no fee) clearinghouse and can not be happier with our choice. We not pay to file electronic claims or receive electronic remits and will conserve countless dollars every year. Most importantly we pass those cost savings on to our customers in the form of lower rates. Did we fail to discuss our brand-new clearinghouse supplies almost identical services as our fee-based clearinghouse? Did we likewise mention we do not pay a penny? In fact our clients' cash flow has not been healthier.
As you understand, clearinghouses electronically accept, procedure and aggregate claims from a multitude of billing workplaces throughout the country. These claims are then forwarded to the proper insurance business (payers). The billing software application tends to be just as diverse. Oftentimes the clearinghouse will even print and mail paper claims to the payers when necessary (in addition to providing some peripheral services).
Understand clearinghouses (fee and no charge) have a little secret they actually do not desire you to understand. They really have another paying consumer: insurance business. The payers do not have the ability of processing claims from a variety of medical billing software application. However to their credit a growing number of insurance companies are offering online claim submission. We remain to make use of some online billing websites.
Wondering how a complimentary no fee clearinghouse can pay for not to charge for electronic information interchange (EDI) services? They have a business design that requires low overhead, lean however efficient personnels, offer value added services like electronic health records and make use of no frills software. In the end these companies have the ability to grow via payer incomes.
Free clearinghouses could not be for everybody. Our fee-based clearinghouse had great customer service and software agents that could basically train an amateur on the fly. If you are a solo or group practice that has high staff turnover or an inexperienced staff then a fee-based clearinghouse might be for you.