Smart Sourcing Your Billing Process

Did you know 30% of claims submitted are denied? Did you know of that 30%, only half are worked and resubmitted?

Outsourcing the medical billing function enables physicians to focus on the critical care of their patients. With ever-changing insurance rules and HIPAA regulations, healthcare reimbursement and processing medical claims are typically too complex to maintain in-house. By outsourcing the medical billing process, physicians are able to "wash their hands" of all administrative details involved in handling relations with insurance companies and government agencies.

Improved Efficiency

For those of you who are solo practitioners with 1-2 auxiliary staff members, it is more than likely that you do not have resources exclusively allocated to revenue management. This means it takes longer to submit claims, follow-up can be inconsistent, and your revenue comes in later than it could.

By outsourcing the billing process, your claims cycle will be streamlined and insurance & patient follow-up will be more persistent - all adding up to a higher collections rate and quicker revenue for your practice.

Eliminate Staffing Costs & Risks

Have you ever had your biller come down with a sudden illness? Employee absence and turnover is a major issue across all industries, but when it affects your billing staff it can pose a serious risk to cash flow and financial security. Employment changes in the billing department often lead to floating patient balances, un-applied payments, mismanaged accounts receivable, and missed billing. In order to maintain a high collections rate, there are also related costs of training and managing your staff. For smaller medical offices, time spent monitoring the billing process translates into missed revenue opportunities. See more patients and worry less about billing by outsourcing to a billing service that understands the way your practice operates.

Technology Partner

Most practices which decide to manage their own billing process make significant investments in practice management software and pay ongoing fees for supporting & maintaining hardware, support fees, monthly fees for electronic claim submissions and patient statement fees. Include training for your staff, and the significance of this investment becomes very clear. If you don't want to deal with software upgrades and technical issues, outsourcing is a good choice.

Checks & Balances Against Theft

Are you actively monitoring your billing staff? Protecting your practice from fraudulent collection processes by disgruntled employees is an issue that should be taken very seriously. Most physicians and practice administrators grossly underestimate the risk factor this poses to financial growth and stability. By outsourcing the billing to a reputable service, you greatly mitigate the ances, inconsistencies between patient balances and bank deposits will be spotted immediately.