Best Practices for Working With a Medical Billing Company

Medical billing is the financial backbone of every healthcare practice. Without a strong and consistent revenue cycle, even the most well-run clinics can struggle. This is why many healthcare providers turn to a professional medical billing company to streamline their processes, reduce administrative workload, and maximize revenue. But outsourcing alone is not enough—it’s the partnership that determines success.

To get the most from your relationship with a medical billing company, there are proven best practices you should follow. In this article, we’ll cover those strategies and explain how Thrive Medical Billing works closely with healthcare providers to build long-term, profitable partnerships.

Why Work With a Medical Billing Company?

Before diving into best practices, it’s important to understand the value that a medical billing company brings to the table:

• Expertise in coding, compliance, and payer rules

• Reduction in billing errors and denials

• Faster claim submission and reimbursement

• More time for providers to focus on patient care

• Improved patient billing and collections

A reputable billing partner like Thrive Medical Billing can transform your practice’s financial health while allowing you to focus on what matters most—your patients.

Best Practices for a Successful Billing Partnership

1. Choose the Right Billing Partner

Not all billing companies are created equal. Start by choosing a medical billing company that has:

• Experience in your specialty

• Transparent pricing and service models

• Strong client references

• Certified coders and HIPAA compliance

• Integrated technology platforms

Thrive Medical Billing stands out by offering tailored services, industry-certified professionals, and real-time reporting for full transparency.

2. Set Clear Expectations with a Service Level Agreement (SLA)

A well-structured SLA defines the roles, responsibilities, and performance benchmarks for both you and the billing company. This agreement should include:

• Scope of services (e.g., claim submissions, appeals, patient billing)

• Turnaround times for key tasks

• Reporting frequency

• KPIs (e.g., clean claim rate, denial rate, days in A/R)

• Escalation processes for issues

Thrive Medical Billing includes a customized SLA with every client, ensuring accountability and alignment from day one.

3. Ensure Open and Frequent Communication

Effective communication is crucial to success. Establish regular check-ins to:

• Review financial reports

• Discuss any billing issues or denials

• Share updates about payer contracts or fee schedules

• Provide feedback and address concerns

Thrive Medical Billing assigns a dedicated account manager to each client, offering consistent communication and proactive support.

4. Provide Accurate and Timely Documentation

Your billing company relies on the information you provide. Incomplete or delayed documentation leads to billing errors and payment delays. Make it a priority to:

• Submit encounter notes and patient charts promptly

• Verify coding accuracy or clarify diagnosis when needed

• Respond to information requests quickly

Thrive Medical Billing provides templates and training to help practices streamline their documentation workflows.

5. Share Access to Your Practice Management System

Collaboration is easier when your medical billing company has real-time access to your practice management software. This enables them to:

• Verify insurance before appointments

• Post payments accurately

• Follow up on open claims without delays

Thrive Medical Billing works seamlessly with all major EHR and PM systems, including Kareo, Athenahealth, AdvancedMD, and others.

6. Stay Up to Date on Coding and Compliance

Regulatory changes, coding updates (like ICD-10/ICD-11 transitions), and payer-specific policies can affect reimbursement. Work with a billing partner that:

• Offers ongoing education and coding updates

• Ensures HIPAA compliance

• Keeps you informed about Medicare, Medicaid, and commercial changes

Thrive Medical Billing keeps clients ahead of industry changes through newsletters, training sessions, and compliance audits.

7. Monitor Performance with Regular Reporting

You should never be in the dark about your revenue cycle. A trustworthy medical billing company will provide detailed reports that include:

• Claims submitted, accepted, denied, and paid

• Days in A/R by aging bucket

• Collection rates

• Denial trends and resolutions

• Net revenue over time

Thrive Medical Billing delivers monthly performance reports and access to dashboards that track real-time financial health.

8. Understand Your Responsibilities as a Provider

Outsourcing billing doesn’t mean giving up all control. Providers are still responsible for:

• Providing complete, accurate clinical documentation

• Notifying the billing company of any payer or service changes

• Approving patient payment plans or billing policies

• Reviewing reports and addressing red flags

Thrive Medical Billing works hand-in-hand with providers to ensure all sides fulfill their roles effectively.

9. Utilize Patient-Friendly Billing Practices

Patients are more likely to pay their bills when they understand them. Your billing company should:

• Offer clear, itemized statements

• Provide multiple payment options (e.g., online portals, payment plans)

• Send reminders via email or SMS

• Assist patients with insurance questions

Thrive Medical Billing offers a full suite of patient billing solutions to enhance satisfaction and improve collections.

10. Be Open to Feedback and Continuous Improvement

Billing is not a “set it and forget it” operation. Regular performance reviews and process optimizations can improve outcomes and reduce bottlenecks. Ask your billing partner:

• What trends they’re seeing in your denials

• How you can improve documentation

• What changes in payer behavior are affecting your revenue

• How technology can improve efficiency

Thrive Medical Billing takes a consultative approach—advising clients on how to reduce denials, increase revenue, and improve workflows over time.

Red Flags to Avoid in a Billing Partnership

Even when best practices are followed, issues can arise. Be on the lookout for warning signs such as:

• Poor communication or delayed responses

• Unclear or inconsistent reporting

• Unexpected fees or charges

• High denial rates with no resolution plan

• Lack of transparency in processes

If you’re experiencing any of these, it may be time to switch to a more reliable medical billing company like Thrive Medical Billing.

Why Choose Thrive Medical Billing?

At Thrive Medical Billing, we believe that a successful billing partnership is built on trust, transparency, and technology. Our team is committed to helping your practice:

• Increase collections and cash flow

• Eliminate billing errors and compliance risks

• Gain full visibility into your revenue cycle

• Receive personalized support and guidance

We work with small practices, large clinics, and specialty providers across the U.S., offering tailored billing solutions that scale with your growth.

Final Thoughts

Outsourcing to a medical billing company can be one of the most strategic moves for your healthcare practice—but it only works if you actively participate in the partnership. By following best practices such as setting expectations, communicating openly, and monitoring performance, you can ensure a long-lasting and profitable relationship.

Thrive Medical Billing offers more than just billing—we offer a partnership built on results. If you’re ready to streamline your revenue cycle and boost your bottom line, contact our team today.