FREQUENTLY ASKED QUESTIONS
Explore the frequently asked questions below, and contact us if you would like more information.
HOW IS HIS DIFFERENT FROM OTHER BILLING COMPANIES?
●HIS is not your average medical billing company. In fact, we do a lot more than submit claims. We manage the entire Revenue Cycle, providing your practice with the expert partner needed to maximize reimbursements, increase efficiencies and boost profitability of your practice. We go beyond the typical billing company and provide expert coding and documentation education and training from leading industry professionals with decades of specialized experience and training. We ultimately work to position your practice for a more profitable and efficient future.
WHY SHOULD I OUTSOURCE MY RCM?
●The “business” side of your business involves a lot of moving parts, especially when you need to focus on growing your practice and providing the best medical care to your patients. A steady revenue involves absolute precise handling of the entire revenue cycle. By handing the reigns over to HIS, your practice or hospital is provided the expert partner needed to help grow the practice and provide revenue protection and security for the future.
WILL OUTSOURCING MAKE MY PRACTICE WEAKER?
●Absolutely not. In fact, practices that outsource their billing to HIS typically see a bump in reimbursements, increased efficiency, and a more independent future. On average, we are able to increase the reimbursements of our partnering practices by as much as 20%
HOW MUCH DOES OUTSOURCING COST?
●There is no one-size-fits-all solution or cost structure to the revenue cycle. Most RCM firms charge a percentage of collections. When this expense is tied to a revenue, profit margins remain intact. When your billing operations and staff is a high fixed cost the number does not decrease if you have a slow period. Conversely, when that cost is a variable cost as a percentage of revenue, your costs decrease congruently if your revenue does. After outsourcing, many of our clients see how much their previous billing methods were costing them in lost revenue.[G1] [G2]
WHAT SERVICES WILL BE PROVIDED TO MY PRACTICE WHEN WE PARTNER WITH HIS?
●This depends on the specifics of what your practice needs. We provide a wide range of solutions for businesses big and small in order to best meet their current and future needs. Our services include practice management and consulting, revenue cycle management, and ICD-10 coding and education. There are certain best practices that we suggest but no practice is the same. Those nuances and differences can require different approaches and scopes of services. We are skilled and experienced enough to customize the program and partnership to your needs.
WHAT IS THE PROCESS LIKE FOR SWITCHING TO AN OUTSOURCED BILLING COMPANY?
●This process isn’t immediate; it takes careful planning to ensure we have a firm grasp on the needs of your practice and all of the intricacies that must be in place for an effective and efficient revenue cycle. A trustworthy company will ensure they thoroughly understand your unique processes first and evolve into handling everything. This creates a smooth and realistic transition. In a best case scenario, HIS prefers to have a 90-day timeline for implementation. We have, when situations called for it, jump into a practice almost immediately to provide the expert services needed. While this is not desired, HIS understands the fluctuating needs of a busy practice and can make the necessary adjustments to ensure a successful partnership.[G3] [G4]
WHAT ARE THE BENEFITS TO OUTSOURCING?
●The benefits of outsourcing to HIS will be different for each practice we partner with, depending on their specific needs and desired scope of services. The most common benefits include increased efficiencies, greater profits, a more stable future, and time saved. On average, our clients increase their average reimbursements by 7-15% and have at times seen increased upwards of 20%.
CAN MY PRACTICE PARTNER WITH HIS?
●We are thrilled you are interested in partnering with HIS. HIS is selective with the practices we partner with, as we want to make sure it is a mutually beneficial relationship. HIS does not set out to the be the biggest nor the cheapest revenue cycle firm; we only strive to be the best. Not every practice is right for us. We are very picky on who we select to partner with. If you are looking for just a vendor to outsource to then we may not be the right fit for you. However, if you seek a lasting partnership, have a commitment to excellence, and want to grow your practice we may have the foundations for a long and successful partnership. Let’s start a conversation today to discuss your options.