About Millennium Medical Billing
Millennium Medical Billing Inc. was founded in 1997.
From a very humble beginning Millennium has become a premier billing company because of commitment and attitude.
The executives at Millennium Medical Billing have decades of experience in the medical billing industry, and our administrators and account managers average years spent in supporting our clients’ growth.
For the past decades, Millennium Medical Billing has provided clients with services designed to increase revenue, reduce physicians’ burnouts, ensure predictable cash flow and improve practice efficiency.
We employ a wide variety of medical billers and coders with varying degrees of work experience in medical practices, hospitals, insurance companies and beyond. Our staff is regularly updated and trained with the latest medical billing, coding and compliance information available.
“Roxana, your company looks to be a great fit for our billing needs. I did meet with some other companies, while not as impressive, they do offer lower billing fees, and lower overall capability. Could you please explain the difference between your company and the others?”
We have different levels of services to fit every practice’s budget and needs. I have a number of reasons why we are different, see below for just a few, but the most important answer is that every client gets more from Millennium Medical Billing. More attention, more dedication, more service and more money than what other billing departments tend to deliver.
So, how do we justify our fees?
Examples to explain fees depending on:
• Billing Services delivered for 5% collection rate
Let’s say we process a claim, for which the billed amount is $1,500, performing all the necessary billing steps up to receive the payment from the insurance and let’s say that the insurance pays only $300 for whatever reason.
At this point, on top of the work already done for the encounter/claim, we should:
Analyze the claim, recognize and verify the underpayment, consider the benefits, evaluate the explanation of benefits, deductible amounts and OOP expenses, calculate the correct expected reimbursement, call the insurance company for reprocessing and even appeal the claim for underpayment, follow up on the claim status until payment is received, and only then we can proceed with posting the payments and move on to next applicable steps.
In doing just these extra steps we would have to allocate resources and employees, right?
Now let’s say the extra work is equal to 3 hours of work and let’s say we pay the employee $20/h which would correspond to about $30/h by the time we consider other aspects and resources involved such as taxes, software license, IT, etc.
These extra steps would cost approximately $30×3 = $90.
Now, at 5% collection rate, the underpayment of $300 would correspond to $15 for MMB.
If we collected the extra $1,200 at 5%, it would correspond to $60 for MMB
In this scenario, MMB would run at a loss of $30 for the extra effort of collecting.
As you can see the loss is considerable even though we are taking into consideration 5%, not to mention less than that!
As a result, it would be an unrealistic to expect or demand to collect as much as we can by paying low percentages, and this concept applies to the negotiation of claims, litigations and arbitrations, old uncollected claims, patients’ hard collection, extensive follow-up, etc.
In the same way, our clients deserve to get paid for the services provided to their patients we also deserve to get paid for our work, especially when this work is needed to collect for them!
After all, no one would like to work for free, right?
I believe everyone knows that say: “You get what you pay for!”
There is a growing trend in medical billing companies to put together brilliant sales & marketing schemes often located in the USA in order to gain new clients while the overall operation is handled overseas.
In fact, once a new client is acquired, in today’s market, a billing company proceeds to send all the work from that client to an inexperienced and unqualified resource outsourcing the whole operation to an entity that very often shares resources with other billing companies.
This unqualified shared resource may put forth an honest effort, but when all is said and done there will be a plethora of errors and detail oversights. Most of the time the medical practice will not be aware of such shortcomings or accept the fact that the billing service is so cheap that these mistakes will be accepted.
The above is a widespread scenario that occurs when a billing company outsources their work.
At Millennium Medical Billing, we provide an unparalleled level of service.
We are American owned, based, and worldwide operated.
We do not outsource our work, but through technology, we do utilize valuable resource all over the globe.
We don’t share overseas’ employees with other billing companies, but we hire, invest, train, and maintain proprietary worldwide resources.
Our executives & account managers are intimately involved with each account and regularly visit client offices for meetings & training updates or if far away located leveraging the technology we conduct web meetings & webinars.
In the end, it is your medical practice, and you decide to take a gamble on how your billing gets done, or you can go with a proven winner in Millennium Medical Billing.
Going beyond the aforementioned, many American based billing companies or in-house medical billers do not always hire adequately certified and trained medical billing agents.
Moreover, any medical biller with training & certification still needs to maintain their credentials and be up-to- date with the ever-changing world of medical billing.
We tightly screen each employee within our company to ensure that they are certified and qualified to work in our fast paced and detail oriented office environment.
Many medical billing companies and medical offices have a laissez-faire approach to their human resources and standards in quality.
When it comes to hiring and managing the right people, we allow no room for compromise, another reason why Millennium Medical Billing stands above the competition.
We proudly apply the latest standards in technology to maximize efficiency and minimize overhead for your medical practice.
Our paperless procedures and electronic document management system allow us to speed up the revenue process for your medical practice.
Our Billing Software and tools are among the most capable and efficient in the market.
We spend less time walking to file cabinets, digging through folders. Instead, we spend more time collecting money for you, and we can help you do the same in your medical practice.
Our online web-portal allows clients to quickly and easily upload files for billing purposes and access relevant documents while meeting HIPAA compliance.
When a medical practice is ready for electronic medical records, we can advise as to what would work best for them, supporting and verifying that the EMR would interface with our medical billing software.
We offer a variety of standard as well as additional premium services organized in different levels to accommodate every single practice, facility, and physician’s needs.
Personally, I have high confidence in stating that we are quite unique in this aspect as well as in the attention and dedication towards our clients.
In conclusion, our fees quickly justify themselves when you experience the level of quality and value that Millennium Medical Billing brings to each medical practice it services.
In short, we strive to be the best every day, and I challenge anyone out there to find a better dedication to delivering equal services.