To outsource or not to outsource medical billing services? This is a big question facing many practices today, as the need for speed, accuracy, and follow-through rise steadily with changing codes and procedures. Not to mention insurance policies getting a make-over on a near daily basis. Considering current struggles, the benefits of delegating billing are many. Read on for a few of the important ones:
Lower Cost, Higher Returns
Medical Billing is the primary driving force behind generating high revenue for a practice. It can turn what should be a healthy practice into a sinking ship if not nurtured and attended to appropriately. When billing is handed over to a professional service, the provider receives a full team of specialists for a single medical biller’s salary. This means no more claims falling through the cracks, as these pros have only one goal: to get the provider(s) paid. To quantify that, you can see how much money you’re no longer losing due to claim expiration or an exhaustive battle with an insurance company because someone is fighting for the provider and doing all of the time consuming tedious work. Outsourcing billing also removes various costs associated with employees, overhead, and liabilities.
Outsourced billing typically spends a lot less time in AR than in-house billing. This is due to the specialists being solely focused on the status of any given claim. Seeing the process through from start to finish is the biller’s one job, and they want to do it well because if the provider doesn’t get paid, neither do they. Professional medical billing and coding services prioritize staying in the know about and in tune with industry changes. As a result, such organizations tend to provide quality and up to date service. This puts more time to focus on what matters (the patients) directly back into the hands of the practice and its providers.
It is a common misconception that handing over billing means handing over control. On the contrary, medical billing services are contractually obligated to guarantee provider access to all pertinent account information, either upon request or in a continuous fashion, such as making a claim status available through a web-based system. Oftentimes this can even be more pleasing to a provider as all the sifting and sorting has been handled by the time a medical professional sees it again. A biller is able to explain specifically what claim is where and why, with no extra effort on the part of the provider. Instant access to pure data is priceless in professions that fall under the medical industry umbrella, and a service of this nature offers that. Remember, it is the chief objective of a billing service to see their clients paid, as quickly and fully as possible.
Your Next Step: I’m ready to outsource medical billing services
To fully maximize the variety of benefits to outsourcing, it is very important to find trustworthy and experienced professionals. Make sure to set-up a consultation to discuss your specific needs and don’t be afraid to ask questions. If you are interested in discussing our medical billing services, Biltek can help you get started today. Simply send us a message or call our office during business hours.
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