Changing billing partners is a big decision. It takes time, effort, and carries some risk. But staying with the wrong partner can cost you far more in the long run. Here are five signs it might be time for a change.
1. Your Denial Rate is Climbing
Industry benchmarks put a healthy denial rate at 5-10%. If yours is consistently above that—or trending upward—something is wrong. Good billing partners should be reducing denials over time, not letting them grow.
2. You Can't Get a Straight Answer
When you ask about a specific claim, do you get a clear, prompt response? Or do you wait days for vague updates? Transparency and communication are non-negotiable. If your billing partner can't tell you exactly what's happening with your revenue, that's a problem.
3. You Don't Know Your Numbers
You should have real-time visibility into your billing performance. Days in A/R, collection rates, denial rates by payer—this information should be at your fingertips, not locked in monthly reports that arrive weeks late.
4. Every Conversation Feels Transactional
Your billing partner should feel like a partner, not a vendor. They should know your practice, understand your challenges, and proactively bring you ideas for improvement. If every interaction feels like you're starting from scratch, you don't have a partner—you have a processor.
5. You're Doing Their Job
If your staff is constantly following up on claims, chasing down information, or cleaning up errors, you're not getting the service you're paying for. A good billing partner should free up your time, not consume more of it.
Making the Switch
If any of these signs resonate, it might be time to explore your options. The right billing partner can transform your practice's financial health. The wrong one can drain it.
Not sure where to start? We're happy to provide a free assessment of your current billing performance—no strings attached. Sometimes a fresh set of eyes is all you need.
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