Why Outsource?

Why Outsource?

When growing or establishing their practice, physicians are faced with many business related decisions. One of the most common decisions they’ll have to make is whether or not to outsource their medical billing to a third-party billing service or to hire additional staff to process claims in house. Contrary to what was taught in medical schools in the past, in the modern medical industry outsourcing is a viable way to manage your billing while cutting down on overall costs and making a large dent in the stress of being a medical professional. For many practice managers and physicians, outsourcing can seem like a scary prospect, like you’re giving up control of a crucial part of your business. However, with the right billing partner, it should feel like a part of your practice.
There are many factors to consider if you’re thinking about whether or not you should out-source your medical billing.

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↠ Focus on what you do best
↠ Control
↠ Accounts and Analysis
↠ Consistency
↠ Parts of your team
↠ Marketplace changes
↠ Anticipate Payer Rule Changes
↠ Payer representative
↠ Auditing
↠ Office Management
↠ Faster Pay
After spending many years in school to become a doctor, it’s probably hard enough to recall all the information you learned, especially the short portions spent on medical billing. Doing your own billing in house requires a lot of time and effort on top of learning the processes. Even if you aren’t the one spending the time to contact a payer or follow up on claims, you still end up contacting the higher level management and supervising part of the process. A billing service can free up a substantial amount of time and reduce the headaches that come with the billing process, allowing you to focus on your patients or get some well-deserved rest.
Many people think that outsourcing medical billing means giving up control to someone else. For most practices, the opposite is true and the end up feeling more in control. Someone else taking care of the “dirty work” of the billing process allows the provider to review monthly reports and check on the health of the practice. You can quickly check periodic comparisons and have questions addressed by account managers. Transparency and the ability to run any report 24 hours a day gives a sense of control that practitioners have never had before. An expert billing service utilizes a team approach to progress toward mutual goals.
Your external billing service can tell you at least monthly the percentage of claims that are paid from initial submission, how many are outstanding, and which payers are most important to the practice. Its valuable information that internal billing almost never has time to provide.
Never worry about employee turnover in the billing department again. Unless your practice is big enough to justify a full size billing department, with a set of employees with varying skills and experience, high turnover is almost inevitable. Many aspects of billing work can be dull and others require advanced skills in analysis, synthesis, and communication. Few people capable of these higher-level requirements will be satisfied for long with dull routine work and those who enjoy the routine work may not have those more advanced skills.
Your external billing team only has one job, which is to increase the profitability of your practice. They review and process your payments to ensure that the right amount is paid and prevent incorrect adjustments. They monitor every outstanding claim and track it from when it is processed to when it is paid in full. This is not a separate team. They work with your existing staff with the same goals in mind. If the practice does not make money then the billing service does not make money. They work with your office not just to ensure efficiency in processing but to provide training and resources as needed. The practice gains access to a large combined knowledge base of medical billing professionals.
An in house biller cannot know what other practices in the same specialty are doing and what their outcomes are whereas an external biller manages a variety of practices and physicians and can make recommendations on best business practices in your field to increase profits.
A good billing service remains aware of proposed and pending changed that can have an impact on revenue cycle, especially technical changes that might not be noticed by the medical practice until after the fact. The healthcare field is changing at an unprecedented rate and the Medical Billing requirements along with it. Keeping up with the even changing rules and regulations is difficult even for the best independent practice and requires constant education. New CPT codes come out annually and fees and carrier rules seem to change daily. Your in-house billing team might just not have the time needed to keep up to date.
Your external billing team only has one job, which is to increase the profitability of your practice. They review and process your payments to ensure that the right amount is paid and prevent incorrect adjustments. They monitor every outstanding claim and track it from when it is processed to when it is paid in full. This is not a separate team. They work with your existing staff with the same goals in mind. If the practice does not make money then the billing service does not make money. They work with your office not just to ensure efficiency in processing but to provide training and resources as needed. The practice gains access to a large combined knowledge base of medical billing professionals.
A payers audit is a common occurrence for a billing service. They know how the process works and what vocabulary to use and have the documentation on hand. Don’t get caught unprepared for what should be a routine task by having under-qualified professionals managing your billing.
Relieve your staff of the constant phone calls regarding billing and claims errors by letting your billing service take those calls while you enjoy a quiet working environment. Finding the right office is difficult enough without worrying about space for a billing department.
Income is important for any business. The time spent in the revenue cycle can significantly impact your bottom like. Through an external billing service, your claims are submitted fast and with fewer errors so you can revive payment from the payers in the shortest possible time. You can ensure that your payments are posted by professionals who will prevent errors in payment posting and detect denials to make sure they are resubmitted for timely payments.

After spending many years in school to become a doctor, it’s probably hard enough to recall all the information you learned, especially the short portions spent on medical billing. Doing your own billing in house requires a lot of time and effort on top of learning the processes. Even if you aren’t the one spending the time to contact a payer or follow up on claims, you still end up contacting the higher level management and supervising part of the process. A billing service can free up a substantial amount of time and reduce the headaches that come with the billing process, allowing you to focus on your patients or get some well-deserved rest.

Many people think that outsourcing medical billing means giving up control to someone else. For most practices, the opposite is true and the end up feeling more in control. Someone else taking care of the “dirty work” of the billing process allows the provider to review monthly reports and check on the health of the practice. You can quickly check periodic comparisons and have questions addressed by account managers. Transparency and the ability to run any report 24 hours a day gives a sense of control that practitioners have never had before. An expert billing service utilizes a team approach to progress toward mutual goals.

Your external billing service can tell you at least monthly the percentage of claims that are paid from initial submission, how many are outstanding, and which payers are most important to the practice. Its valuable information that internal billing almost never has time to provide.

Never worry about employee turnover in the billing department again. Unless your practice is big enough to justify a full size billing department, with a set of employees with varying skills and experience, high turnover is almost inevitable. Many aspects of billing work can be dull and others require advanced skills in analysis, synthesis, and communication. Few people capable of these higher-level requirements will be satisfied for long with dull routine work and those who enjoy the routine work may not have those more advanced skills.

Your external billing team only has one job, which is to increase the profitability of your practice. They review and process your payments to ensure that the right amount is paid and prevent incorrect adjustments. They monitor every outstanding claim and track it from when it is processed to when it is paid in full. This is not a separate team. They work with your existing staff with the same goals in mind. If the practice does not make money then the billing service does not make money. They work with your office not just to ensure efficiency in processing but to provide training and resources as needed. The practice gains access to a large combined knowledge base of medical billing professionals.

An in house biller cannot know what other practices in the same specialty are doing and what their outcomes are whereas an external biller manages a variety of practices and physicians and can make recommendations on best business practices in your field to increase profits.

A good billing service remains aware of proposed and pending changed that can have an impact on revenue cycle, especially technical changes that might not be noticed by the medical practice until after the fact. The healthcare field is changing at an unprecedented rate and the Medical Billing requirements along with it. Keeping up with the even changing rules and regulations is difficult even for the best independent practice and requires constant education. New CPT codes come out annually and fees and carrier rules seem to change daily. Your in-house billing team might just not have the time needed to keep up to date.

Your external billing team only has one job, which is to increase the profitability of your practice. They review and process your payments to ensure that the right amount is paid and prevent incorrect adjustments. They monitor every outstanding claim and track it from when it is processed to when it is paid in full. This is not a separate team. They work with your existing staff with the same goals in mind. If the practice does not make money then the billing service does not make money. They work with your office not just to ensure efficiency in processing but to provide training and resources as needed. The practice gains access to a large combined knowledge base of medical billing professionals.

A payers audit is a common occurrence for a billing service. They know how the process works and what vocabulary to use and have the documentation on hand. Don’t get caught unprepared for what should be a routine task by having under-qualified professionals managing your billing.

Relieve your staff of the constant phone calls regarding billing and claims errors by letting your billing service take those calls while you enjoy a quiet working environment. Finding the right office is difficult enough without worrying about space for a billing department.

Income is important for any business. The time spent in the revenue cycle can significantly impact your bottom like. Through an external billing service, your claims are submitted fast and with fewer errors so you can revive payment from the payers in the shortest possible time. You can ensure that your payments are posted by professionals who will prevent errors in payment posting and detect denials to make sure they are resubmitted for timely payments.

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