In-house medical billing system is expensive and rather time consuming. It calls for hiring and training new staff and maintaining them. To retain staff, you will have to pay attractive benefits and allowances. Moreover, all processes have to be monitored closely if your office is to function perfectly.
Other problems related to in-house medical billing system include manual data entry mistakes, errors in coding, missed charges, delay in claim submissions and rejected claims. In such an instance, you could consider outsourcing your medical billing process to a reliable medical billing company. This will help you avoid billing related infrastructure and manpower costs, save time and improve your revenue.Medical billing services offer healthcare practices overall savings in time and money. At present, it is a common practice for busy medical practices to avail of reliable medical billing services.
Improve the Functioning of Your Healthcare Facility
With quality medical billing outsourcing, healthcare practitioners can improve the way in which their healthcare facility functions and enjoy considerable cost savings. Medical billing services are available for all medical specialties including dentistry, nuclear medicine, cardiology, radiology, dermatology, pediatrics, occupational therapy, pain management, chiropractic, general surgery, family practice, oral and maxillofacial surgery, and more.
The medical billing process includes:
Patient Enrollment
Insurance Enrollment
Insurance Eligibility Verification
Payment Posting
Denial Analysis
Scheduling and rescheduling
Accounts Receivable Management
Charge Entry
Submission of Claims
Accounts receivable follow-up
Report maintenance
Outsourced Medical Billing Benefits Ensured
Outsourced medical billing helps you save your valuable time and money by:
Allowing professionals to focus on their core business activities and provide quality healthcare. This enables the healthcare professionals to fully utilize their time and maximize their productivity resulting in better income.
Eliminating billing errors
Helping to save money spent on:
oEmployee benefits
oSalaries
oMedical office space
oHealth insurance
oPaid vacation time and office equipment
oResources needed to hire professionals
oPayroll taxes
oOffice infrastructure
oTraining new team to enable them to work as per client’s requirements
oCost of technology used for medical billing
oEquipment and software, including acquisition, upgrades, depreciation, and maintenance
No HR costs: No need to advertise jobs, or interview candidates
Reduces the time your staff spends on processing claims
Look for a Reliable Provider
From this, it is clear that outsourcing medical billing services can really help the physicians save time and money beyond just minimizing the hassles. Medical billing outsourcing is a viable option for those who find in-house billing difficult and have suffered revenue loss on account of billing errors.
So, if you are looking to improve the effectiveness of your medical billing practice with accurate and timely medical billing services, consider hiring a proficient and reliable medical billing company having a proven track record and many satisfied clients.
