Baby Steps: Your Guide to Effective Medical Billing for Fertility Specialists

Every year, millions of men and women embark on what many consider to be one of life’s greatest and most rewarding adventures – and no, we’re not talking about seeing the Northern Lights for the first time. 

We’re talking about having a baby and becoming a parent, of course.  

And while most of those people will conceive a child through traditional means – and have success with that process – others will need to take a more unique approach if they want to start a family (or add to it).

In fact, according to the Centers for Disease Control and Prevention (CDC), roughly 10 percent of women (about 6.1 million) in the United States ages 15-44 have difficulty getting pregnant or staying pregnant.

But that’s okay – that’s what we have fertility specialists for!

And if you’re reading this article, then you’re one of those unsung heroes. 

Fertility Specialists: Help Us, Help You, Help Your Patients

Fertility specialists and reproductive endocrinologists like you are a beacon of hope for millions of men and women out there who want nothing more than to raise a family – just as their parents did with them. 

And we commend you for that. 

Your ability to put the health and well-being of your patients at the forefront of everything you do is easy to admire, but we also understand how much time, energy, and effort it takes to stay dedicated to that goal.

Especially when you have a business to uphold and finances to manage. 

While the health and well-being of the patient is what’s most important to any fertility specialist, you have to find a balance between nurturing that and maintaining the financial well-being of your clinic or practice. 

That’s where most fertility specialists often struggle. 

But the good news is they don’t have to worry about any of that. 

At least not with Millenium Medical Billing by their side. 

Medical Billing: The Help You Didn’t Know You Needed

Medical billing is the process of submitting and following up on claims with health insurance companies and invoices with self-pay patients to ensure payment is received for services provided by your practice.

Without it, your fertility clinic wouldn’t be able to keep the lights on. 

And you wouldn’t have the opportunity to do what you do best. 

Despite its importance, many fertility specialists struggle with the medical billing and coding process – and we don’t blame them because it’s a long, difficult, and time-consuming process with a ton of moving parts. 

Here are just some of the many challenges most practices face today: 

• The medical billing process is too complex to understand
• Taking up too much time, energy, and effort
• Too many errors and typos with patient information
• Medical codes aren’t being utilized correctly
• Payments are getting delayed a little too long for comfort
• Insurance claims keep getting rejected or denied
• Self-pay patients aren’t paying invoices in a timely manner
• Too many invoices being sent to collections
• Failure to obtain pre-authorization or referrals when necessary
• Failure to record time units properly

That’s a lot for one person to handle – and every minute spent building invoices and writing codes is a minute not spent in front of your patients. And your patients need you more than they’d like to admit. 

In-House vs. Outsource: Which Billing Strategy Is Best for You?

So, you’ve come to the conclusion that you need help, but now you need to try and figure out where that help will come from. While there are plenty of ways to go about it, two options stand out above the rest: 

Investing in your very own in-house team and outsourcing the process to a professional company. 

There are pros and cons to both strategies, but outsourcing is what makes the most sense to a majority of fertility clinics today – especially for those who want consistently-positive results with little-to-no overhead. 

With that said, let’s take a look at some of the reasons why you should consider outsourcing your billing: 

• Professional medical billers have a deep understanding of medical codes
• Outsourcing helps you stay compliant with HIPAA, ICD-9/10, CPT, AAPC, HCPCS, CMS, and AMA standards
• Outsourcing can reduce the costs associated with hiring, training, and maintaining an in-house billing team
• Outsourcing often leads to faster claim processing, quicker payments, and reduced claim denials and rejections
• Most medical billing companies can scale to your needs as your business grows
• Outsourced billing companies often use advanced billing software and technology, which can improve accuracy and efficiency
• Fertility specialists have less responsibility when working with a medical billing company

An in-house team certainly gives you more control over the medical billing process, but is that really what you need? I mean, more control is nice, but it’s just going to take up more of your time, energy, and effort. 

Meanwhile, a professional medical billing company (like us) can take all that weight off your shoulders and, in most cases, produce better results than an in-house team, making it quite the  no-brainer decision.

Millenium Medical Billing: Help Us, Help You, Help Your Patients

Is your fertility practice having a hard time staying afloat? Are insurance claims constantly getting denied or rejected? Do you dream of a day where your billing process runs as smoothly as a baby’s bottom? 

If you answered ‘yes’ to any of those questions, then you’ve come to the right place. 

Welcome to Millenium Medical Billing – where your billing needs are taken care of. 

You can think of us as a babysitter for your billing department. Our No. 1 goal is to help fertility specialists like you sleep like a baby knowing that your finances are under control and reimbursements are issued. 

If you’d like to learn more about how we can help your fertility clinic, please don’t hesitate to contact us today at (718) 356-1337 or schedule a consultation with one of our leading experts by clicking here.