Making the transition from self-billing to an RCM/billing service represents a big change, for which you’ll want employee buy-in, and for which you have to prepare thoroughly. Upgrading medical billing service will be daunting and maybe your revenue will soar. But bearing some short-term pains can be fruitful for long-term goals.

That’s why we have devised this simple guide on how you can transit from self-billing to an RCM/Billing Service without losing even more revenues. This guide will help simplify the whole process in following steps.

1. Ensure the on-time delivery of the new welcome packets.

This will help in lesser revenue loss and also the efficiency of RCM/billing service firm. A few extra minute spent completing this form correctly when you start will save you a great deal of time and frustration later when you’re on the phone and need this information quickly.

Hint: Fill this form out in pencil, as the information supplied may change later on.

2. Provide all the details of insurance with which you are currently credentialed.

Providing this information is crucial. This will assist the billing service provider to integrate into your program details of insurance you are registered with to help prevent complexities later on especially if a patient is under an insurance you are not credentialed.

3. Provide your login credentials

Don’t forget to provide login credentials for PECOS- Provider Enrollment, Chain and Ownership System and NPPES – National Plan & Provider Enumeration System. This will smoothen the upgrade process.

4. Identify that each insurance your provider and/or group use are signed by authorized staff only.

There are countless health insurance companies nationwide working in different geographical locations. You must ensure that the insurance your provider use is only signed by authorized staffs only to avoid delays/rejections.

5. Provide a list of ICD-10 codes billed out by your legacy billing service

The International Classification of Diseases, Tenth Revision, Clinical Modification (ICD-10-CM) is a system used by physicians and other healthcare providers to classify and code all diagnoses, symptoms, and procedures recorded in conjunction with hospital care in the United States. Ensure you provide a list of ICD-10 codes billed out by your legacy billing service.

6. Provide a list of CPT code billed out by your legacy billing service

Current Procedural Terminology (CPT) is a medical code set that is used to report medical, surgical, and diagnostic procedures and services to entities such as physicians, health insurance companies, and accreditation organizations. Provide this list too.

7. Lockbox

Lockbox is a service provided by banks in which a company’s customers send payments directly to a bank so that the money can be paid immediately into the company’s bank account. Decide whether you’ll be using a lockbox after the transition from self-billing to an RCM/billing service.

8. Keep a track on the average number of billable encounters per day or month

This is as well very important. Your billable encounters amount to your revenue which means that keeping track on this data daily or monthly is important. At Least keep a track on your average number.

9. Accounts receivable (A/R)

Accounts receivable or A/R is a term used to denote money owed to your practice for services you have rendered and billed. A/R is not part of the information imported from your legacy billing system during conversion. You can use your legacy billing service for 90 days to run down A/R.