Why Outsource your medical billing?
Improved efficiency for your practice.
Many doctors say that you don't just need an M.D. to be in private practice anymore; you also need an MBA. An experienced medical billing company doesn't just send out claims; it can also be a valuable business partner. They will provide you with customized reports detailing the financial health of your practice, and can often recommend ways to boost profitability as well.
Most practices with limited resources can't designate multiple employees to concentrate on billing. This means it can take longer to submit claims, follow-up can be inconsistent, and your money can come in later than it should. With a good medical billing company, your claims will be submitted more quickly and accurately, and follow-up will be timely and consistent. This all adds up to higher reimbursements which are paid more quickly, resulting in improved revenue stream for your practice.
Increased claim filing accuracy
A great deal of rejected claims come back simply due to errors in filing. Hiring a medical billing firm to focus exclusively on billing can cut down on errors and save you time and revenue in delayed or rejected claims.
Medical billing is an immense task. Outsourcing to a medical billing firm can take that burden off your shoulders. It will save you and your office staff valuable time that can be used to focus on taking care of your patients.
Reducing office resources
If you are running a small practice, you may not have one employee who focuses exclusively on billing or who has the necessary expertise to do a good job. They may be responsible for billing as well as attending to other clerical duties. A medical billing firm will have the knowledge and experience to take care of all the medical billing issues that arise within your practice, and free your staff to concentrate on other responsibilities.
Providing added securit
As a medical practitioner, you have an obligation to make sure your medical and financial records are secure and your office practices are sound. If you outsource your medical billing, you'll have an outside eye looking at your office procedures and records, and providing checks and balances that you and your staff might not have the time or ability to provide. If there are inconsistencies, a medical billing company will have a good chance of spotting them. You can also be confident that your medical and financial records are secure.