Outsourced collection services
Managing Medical Billing Collections
Stop wasting your time chasing down payments from insurance companies. We’ll manage your collections from the beginning to the end, which includes:
- Medical billing
- Medical coding solutions
- Claims filing
- Insurance claims auditing
- Insurance company follow-up
- Faster collections
Start seeing more profitability in as little as 5 days
One phone call is all it takes to identify whether our services are right for your practice. We can start serving you in as little as one week.
Our Collections Management Services
Chasing down collections from insurance companies can take up time that you just don’t have. Medical practices are already busy enough seeing patients without having to waste time dealing with recalcitrant insurance agents. Letting us handle the collections process will free up your time to take on more patients, which can, in turn, ultimately increase your collections. Our professional billers have the time to dedicate to pursuing claims that you might not and can help to not only improve the speed but also the amount of your collections.
Insurance Claims Filing
One of the benefits of outsourcing to a professional billing company like Quest National Services is that we’ll file claims with health insurance providers on your behalf. This can help to ensure more accurate coding, which can increase your collections.
Insurance Company Follow-up
Staying on top of a claim that’s in progress can take up a lot of your time. If you outsource your medical billing, then one of the services we offer is to manage your collections throughout the entire claims process, from filing to following up. This means that we can bring in collections for you faster as well.
Less Time in Accounts Receivable
If you don’t have the time to spend chasing down collections, your claim may spend time waiting in with Accounts Receivable at the insurance company. The follow-up services that are included in our collections management can help to reduce the time claims spend in A/R by up to 19 days, increasing your practice’s profits by bringing collections to you faster.
Daily Audit of Submitted Claims
One of the ways we follow up with insurance companies is to conduct a daily audit of submitted claims that are currently in progress. We’ll check on the status of each one and follow up with the insurance company when necessary to ensure that claims are processed in a timely manner.
Get a more profitable practice
Increase collections by 15%
Inhouse Medical Billing
$1,200,000 revenue
– $45,000 biller salary
– $40,000 secondary biller salary
– $23,750 Benefits and Overhead @ 25% of salary
– $3,000 Cost of software and hardware for billers
– $1,200 Cost of Postage
$1,087,000 in net collections
Average billing expense of 10.25% of collected revenue
Outsourced Medical Billing
$1,400,000 17% increase in top line collected revenue
– $77,000 5.5% of collected revenue
$1,323,000 in net collections
Average billing expense of 5.5% of collected revenue plus the added collective revenue from outsourcing
Benefits of Managing Collections
There are a number of other benefits to outsourcing your collections management process to in addition to freeing up your time and improving the speed at which collections come in.
Claims Are Resolved, Not Just Tracked
We don’t just check on the status of your claims with the insurance providers. Instead, we manage the entire collections process and that includes chasing down insurance companies and refiling claims as needed.
Faster Medical Billing Collections
Another benefit of our collections management services is that your collections will come in much faster. Having us manage your medical billing can ultimately bring in collections more than two weeks faster than if you were doing it yourself.
Increased Collections and Profits
In addition to faster collections, outsourcing your billing management can also help to bring in more profits. This is because professional billers have the knowledge to be more accurate with coding. We also have the expertise and resources to track claims and follow up with insurance companies when necessary.
Testimonials