The eye care and eye wear population is growing manifolds accounting for a steep rise in complexity of the compliance regulations, tons of information, compressed timelines and tighter budgets. In such a scenario, outsourcing your optometry medical billing could be a more cost effective option as against the in-house billing. Here’s why:
1) Trained, Dedicated and Experienced Staff:
When you outsource your optometry billing services, you’ll have a trained, dedicated and experienced optometric billing and coding team who is aware of the intricacies of the insurance companies. No matter how small a claim is; these field experts work 24/7 to improve the financial performance of your practice. They work and follow up on claims till they have been paid or a valid response for non-payment is given.
2) Reduced Costs and Effort:
When you outsource, there is no requirement of a billing staff member or space for billing department thus you save automatically on salaries, benefits and space. Even in case of patient’s inquiry calls, the billing service team takes care of all the printing, mailing and processing of patient statements.
3) Changing Industry Norms:
The Healthcare and Insurance industry is changing at an unprecedented rate and coping up with these changes becomes tough under best of circumstances. With the healthcare billing services requiring constant attention to its norms, guidelines, regulations and laws, outsourcing medical billing services seem to be the best option to ensure cleaner claims and quick insurance settlements.
4) Complete Control on your billing with Measurable results:
If you think outsourcing your optometry billing services will give up your control, think again. The major benefit of outsourcing optometry billing lies in looking for a solution that is web-based and gives a complete transparency on either side. You can view the status of any financial report at any time of the day from anywhere. In case of any queries, the manager and the staff of the billing service is always available to discuss the way forward on increased revenue numbers.
5) Faster Payments:
At the end of the day, what matters is the cash flow. So improving upon your revenue cycle management process is important. Outsourcing your medical billing and coding services to specialists can save upon a lot of time and effort and result in faster payments with fewer errors in payment posting.
Whether you are a new medical practitioner, a veteran or planning to upgrade your systems; the services of a specialist are always beneficial for your practice and overall profit margins.