1. Who is HBMA?
2. What do you mean by a Presence in Washington?
3. Who are your Members?
4. Should I purchase the often advertised Medical Billing Software?
5. What benefits would membership give me?
Who is HBMA?
Founded in 1993, the Healthcare Billing & Management Association (HBMA) is the only trade association representing third-party medical billers that has a presence in Washington. HBMA members process physician and other provider claims integral to the health care delivery system. They not only bill for medical services, but frequently perform all of the physicians administrative functions. Three out of the four HBMA members are expanding their business to include accounts receivable management, consulting and practice management services.
What do you mean by a Presence in Washington?
Constant changes in Medicare, Medicaid, private health insurance legislation and regulations make it essential for the third-party medical billing industry to maintain a presence in Washington, D.C. A key element of HBMA's mission is to work with and educate Congress and the Administration on issues affecting the third-party medical billing industry.
In January, 2014, HBMA established their headquarters office in Washington DC. Our legislative and regulatory efforts are led by Mr. Bill Finerfrock. Mr. Finerfrock, and his staff, lead our advocacy efforts on the many issues facing our industry, with both congress and the regulatory agencies.
Members of the HBMA Board are often called upon to discuss issues with congressional and regulatory staff to help create a better perspective on legislation and regulatory oversight issues. HBMA was instrumental in establishing the CMS Compliance Plan for Third Party Medical Billing Companies.
Who are HBMA Members?
A typical HBMA member:
- Accomplishes high levels of claims processing with fewer than 20 employees
- Has been in business for over 10 years
- Serves a client base of more than 20 physician practice groups and more than 50 physicians
Should I purchase the often advertised Medical Billing Software?
HBMA does not endorse any particular software package. There are many individuals and companies who misrepresent our industry. Statistics indicate more than 70% of consumers fall victim to a misleading classified ad or Internet opportunity for medical claims processing. Many individuals have sufferred tremendous financial losses due to being pursuaded to invest in software that suggest 'quick' profitability.
HBMA recognizes the expertise, knowledge, committment required in order to achieve success in the billing industry. HBMA is in a unique position to offer you services to help you become an expert in the medical billing industry.
What benefits would an HBMA membership give me?
Membership to HBMA will allow you many educational values. HBMA has regular conferences with well known speakers. Most companies could not afford to have speakers including healthcare attorneys, industry well known experts, governmental officials, etc. visit their office; however, you can achieve the same results by joining in on some of the educational meetings.
HBMA, as above, has a lobbyist. In the event you have a significant concern with your Medicare carrier, HBMA can offer you support and direction.
HBMA members will attest that networking has to be among the top benefits. Although competitors, HBMA members have joined together in an effort to assist each other by sharing ideas, information and the like. The HBMA listserve is an invaluable resource. One member company stated 'I thought the membership was a bit expensive until I went to one of the conferences and signed on to the listserve. The information I retrieved probably saved me as well as my client several thousand dollars.'
HBMA offers certification which is becoming well known to the medical industry and stands out among our client physicians as billing companies that are on the 'cutting edge'.