Bill Like a Pro: Everything You Need to Know About Hormone Therapy Medical Billing in NYC

Running a hormone replacement therapy (HRT) clinic in NYC is already challenging enough.

Between keeping up with daily appointments, working overtime to solve complex patient cases and staying current on the latest treatment protocols — HRT specialists (like you) have their hands full.

The last thing you need is a billing headache eating into your time and energy.

After all, your patients (and employees) need you!

Unfortunately, most hormone therapy practitioners spend too much of their time wrestling with medical billing instead of focusing on what they do best — helping patients overcome disease and dysfunction.

I mean, think about it (and be honest): 

How many hours per week does your team spend on billing-related tasks?

Chasing down unpaid claims, dealing with insurance denials and rejections, learning coding requirements — these things take time, energy and effort that could be better spent on your patients and employees.

Of course, that’s where companies like ours — Hi, we’re Millenium Medical Billing! — come into play.

Medical Billing: What Is It & How Can We Help?

Do you cringe every time you hear the phrase “medical billing?” 

Don’t worry — you’re not alone. 

It’s one of the most tedious, time-consuming and technical (believe it or not) parts of an HRT specialist’s day, and  is one of the few things that could make or break your clinic’s long-term success and stability.

So, it often needs no introduction. 

But for those who are new to this, allow us to break it down for you. 

Medical billing is the process of submitting and following up on claims with health insurance companies to receive payment for healthcare services (in this case, hormone replacement therapy) provided to patients. 

In other words, it’s what gets you paid — in full and on time. 

But when you factor in the strict coding guidelines billers must follow and unforgiving nature of insurance companies, it’s no wonder why so many hormone therapy clinics are struggling to turn a profit today.

And when you're not getting paid efficiently, your entire practice suffers.

Your patients suffer.

You suffer.

That's where medical billing companies like us come in to save the day. Instead of pouring all that time, energy and effort into something that only adds frustration to your day, let a professional like us handle it!

Because let's face it: you didn't go to medical school to become a billing expert. 

Outsourcing Your Billing: What to Expect From the Process

Hormone therapy clinics have three primary options when it comes to the medical billing process. 

It often starts with the HRT specialists doing it themselves in an effort to save money and limit overhead. But that usually leads to headaches, missed revenue and late nights hunched over coding manuals. 

As business booms, many clinics level up and hire an in-house medical billing team to take over. 

This might seem like the most logical choice, but it comes at an expensive cost — not just financially, but through the amount of time, energy and effort it takes to interview, hire, train and manage employees. 

That leaves us with the third (and often best) option: outsourcing. 

Medical billing teams like ours take 100% of the weight of medical billing off your shoulders, so you can focus on the things that matter most to you — your patients, your employees and your clinic’s future. 

Here’s a quick breakdown of what you can expect when you put your trust in Millenium Medical Billing. 

1. Patient information: our medical billing team will make sure all patient information (name, date of birth, address, phone number, email, insurance, etc.) is input into your patient portal correctly. 

2. Insurance verification: our experts will verify a patient’s insurance to ensure they’re covered for the services provided. We also handle credentialing to ensure providers meet the right requirements. 

3. Medical coding: depending on the services provided, we’ll convert each diagnosis, procedure and treatment into the proper medical code to avoid lazy mistakes, typos and errors on the superbill. 

4. Claim submission: once the superbill is created, our team will send it off to the insurance provider for confirmation and approval. Our goal is to submit the claim as soon as possible to ensure fast payment.

5. Denials and rejections: when insurance companies deny or reject an insurance claim, our team will handle the appeals process, fix errors, and resubmit claims to ensure you get paid what you're owed. 

6. Patient billing and collections: we'll generate and send patient invoices for co-pays, deductibles, and uncovered services, then follow up on unpaid balances to keep cash flow steady and the clinic thriving.

7. Reporting and analysis: our team analyzes your billing data and payment patterns to identify new opportunities for faster payments, fewer denials and increased revenue for your hormone therapy clinic.

In other words, we know how to get you paid faster and more efficiently than you ever thought possible. 

We know that coding for testosterone replacement therapy differs from coding for peptide and estrogen treatment. And we've seen every type of denial and rejection letter insurance providers can throw at you. 

Medical billing is what we’re good at. It’s what we love to do — and we’d love to do it for you, too!

Millenium Medical Billing: Book Your Consultation With Us Today!

Does the medical billing process haunt you at night? Is your in-house medical billing team costing you valuable time and money? Is the medical billing process taking away from the things you love most? 

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

Welcome to Millenium Medical Billing — it’s a pleasure to (virtually) meet you!

With more than 15 years of experience in the industry, our team of medical billing experts stay up-to-date with evolving healthcare regulations and coding standards to ensure our clients always remain compliant.

Our goal is to help you get paid more in less time — without the hassle that comes with medical billing. 

No more staying up late wondering if you coded that claim correctly. And no more frustrating phone calls with insurance companies about denied claims — or juggling billing software and re-training new hires. 

To learn more about how we can help your practice thrive, contact us today at (718) 356-1337.