Specialized Medical Billing Solutions for Small Practices
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Medical Billing Services Tailored for Small Practices
At MediBill MD, we believe in offering the perfect balance of quality and affordability. We disagree with the popularly held belief that to lower the cost of goods and services, one must compromise on the quality. We are aware that small practices have limited capital and resources. Such practices need a reliable medical billing partner without breaking the bank.
To bridge this market gap, our comprehensive medical billing services for small practices are reasonably priced and include around-the-clock dedicated support and easy access to billing experts and AAPC-certified coders. Moreover, you can scale the services up or down depending on the changing needs of your small practice.
Common Medical Billing Challenges for Small Practices
While medium to large healthcare organizations have the necessary staff, technology, and capital to efficiently manage the medical billing workflow, small practices, especially the one-man ones, struggle frequently. Even if the small practice has one physician and supporting staff or is a group practice with two or more physicians, the limited revenue capture does not make a dedicated billing department feasible.
This, in turn, leads to coding and billing errors, late filings, delayed or denied reimbursements, and more revenue loss. Ramifications of this are so far-reaching that compared to 30 years ago, 30% fewer physicians are running a private practice. Due to medical billing challenges, small practices are forced to shut down or get acquired by hospital systems.
Staff Shortages
Healthcare practices with fewer than ten staff members are generally categorized as small practices. This number could include one or two physicians, a physician assistant, a nurse, and a receptionist. Often, these licensed healthcare practitioners are overworked and do not have the necessary skills for efficient medical billing.
Limited Resources
Small practices have limited resources for medical billing. Their limited investment capital does not allow for an in-house billing department, which requires hiring expert billers, purchasing medical coding software, and designating workstations. Hence, most of the billing for small practices is manual and done single-handedly.
Regulatory Changes
Medical billing for small practices is affected by regulatory changes. The US House Committee found that shifts in federal policies contributed to the collapse of small medical practices. Small practices cannot keep up with varying regulations and payer policies. Plus, they are hit hard by low reimbursement rates.
Inefficient Coding
Small practices may be better at rendering personalized and affordable healthcare to their patients, but they cannot match the skills of certified professional coders (CPCs). They often fail to report the correct CPT, HCPCS, and ICD-10 codes for diagnoses, procedures, and services, resulting in claim denials.
Claim Filing
Filing clean claims on time is another medical billing challenge for small practices. On days when the patient inflow is high, small practices are unable to keep up with the paperwork and either file incomplete or inaccurate claims in a rush or submit them after the deadline, leading to denials.
Payment Delays/Denials
Small practices survive on a limited cash flow. They cannot afford to have their reimbursements delayed or denied. As it is, they charge less than well-established hospitals, but due to billing errors, their payments could be withheld, forcing them to write off the entire amount.
Why Choose MediBill MD for Your Small Practice?
We assign a separate medical billing team and a dedicated account manager to each one of our clients. They work day and night to maintain effective communication, determine the client’s billing needs, formulate workable solutions, and put them into action for a streamlined and optimized revenue cycle.
At MediBill MD, we scrap the fluff and fancy and focus on functionality. This philosophy has helped us make our medical billing services for small practices more cost-effective. We leverage the human-tech hybrid to streamline the billing workflow and only charge a small percentage of the client’s total monthly reimbursements.
By choosing our billing services for your small practice, you get instant access to expert coders and billers with years of experience in the field. Our A-team comprises AAPC-certified professional coders, medical billing experts, and revenue cycle managers who work across 45+ specialties, offering tailored solutions each time.
We believe in evolving with you! Our medical billing services for small practices are flexible and scalable. You can cherry-pick the services or opt for the entire package based on your practice’s needs. Whether your claims submission increases to 50 per day or reduces to 5, we are here to stay.
Serving Healthcare Practices Across the USA
Leveraging remote operability, we guarantee a nationwide reach, serving small medical practices in every corner of the country. From downtown Minneapolis in the north to the suburban plains of San Pedro in the south, our tailored medical billing services for small practices are available regardless of the location.
With our strict adherence to federal and state laws, we offer compliant RCM solutions for small practices, preventing violations and legal actions.
24/7 Support Across All Specialties
Whether you run a private pediatric practice or are part of a psychiatric group practice in your community, our medical billing assistance is available to you 24/7! At MediBill MD, certified coders and billing experts work around the clock to offer dedicated support, meeting the unique needs of each medical specialty.
By choosing our billing services for small practices, you will have a reliable partner day in and day out.
Get the Lowest Prices in California
Get unmatched medical billing solutions for small practices at unmatched rates! Partnering with MediBill MD means you only pay a small percentage of your total monthly collections for end-to-end revenue cycle management (RCM) services.
Schedule a Consultation with Our Medical Billing Experts
We understand your need to keep things small, intimate, and personalized. Our medical billing specialists for small practices thoroughly study your needs and offer custom-made solutions. Contact us pronto to salvage your lost revenue!
FAQs
At MediBill MD, we offer all-inclusive medical billing services that can be purchased as a package or separately based on your small practice’s unique needs.
From the first step of patient registration and scheduling to denial management and payment postings, we handle all the medical billing processes for you. And if credentialing is where you are stuck, rest assured we will use our industry expertise to enroll you in the top government and private payer networks.
Yes. Your partnership with MediBill MD guarantees specialized and tailored medical billing services for your small practice. We thoroughly evaluate the needs of your small practice and medical specialty to offer custom-made solutions. For example, we know how to scale down our services for solo practices such as family physicians or scale up for dual-specialty group practices.
Yes. We are 100% HIPAA-compliant and take data security seriously. Our electronic systems and all the files saved on them are password-protected and end-to-end encrypted to safeguard our clients and their patient’s personal information from unwarranted breaches.
Yes. Outsourcing medical billing is cheaper for small practices because in-house billing requires hiring skilled staff, investing in technology (medical coding tools and software), and setting up an office space.
As it is, the profit margin for small medical practices is limited. Hence, such overhead costs could jeopardize the sustainability of the small practice. In comparison, outsourcing billing to MediBill MD only costs between 2% and 5% of the total monthly reimbursements.
