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Top 7 Benefits of Outsourcing your Billing

May 21, 2014



If you have given up the hope of balancing patient care and medical billing in an effective manner, outsourcing can bring an end to all your worries. Outsourcing is like a boon for practices lacking time, money and resources. By hiring a billing partner, many providers across the US have been able to get their RCM back on track.

Top 7 benefits of outsourcing your medical billing needs:

From obtaining timely payments to reduced claim denial rates, outsourcing has various benefits when compared to managing an in-house billing department.

  • Reduced paperwork and overhead expenditure: This will give you sufficient time to concentrate on patient care and other administrative tasks
  • Timely payments: Latest technology and software is used by reputed billing companies to submit error-free claims which means, your practice will get full payment and that too on time
  • Business promotion: Since your billing and payment needs will be handled effectively, you will be able to focus on promoting your practice by developing new marketing strategies and investing in better equipment for quality care
  • Reduced employee expenditure: By outsourcing your billing needs, expenses involved in hiring certified coders and billers, infrastructure, technology, employee salaries, provision of employee benefits will not be required. This will save you a lot of money
  • Reduced billing errors: Billing companies offer a team of certified, well-trained coders and billers who are experienced at their job. They are focused on ensuring error-free claim submission and reducing errors that lead to claim denials
  • Enhanced level of patient satisfaction: Outsourcing will eliminate the headache of attending patients and monitoring the progress of an in-house billing department. Since you and your staff will be dedicating sufficient time for your patients, it will increase their level of satisfaction
  • Billing compliance: In this ever-changing healthcare industry, a billing partner will offer HIPAA-compliant medical billing services. An expert team will be making sure that protocols required by each payer are followed without any errors

How can a billing company benefit your practice?

By outsourcing, your practice cannot only increase revenue but also improve the following areas:

  • Payer identification
  • Staff performance and workflow
  • Record keeping
  • Clinical service and scheduling
  • Billing accuracy
  • Data collection
  • Revenue Capture
  • Short and long term performance tracking

Medical billing tasks can be quite demanding, especially at a time when healthcare reforms are increasing workload on practices. Since the pressure is leaving them with less or not time to concentrate on billing needs, they are hiring a billing company to handle their revenue cycle and strengthen their financial condition.

If your practice is also finding it difficult to sail through billing complexities, you can outsource your medical billing to Medicalbillersandcoders.com. MBC has the largest consortium of coders and billers who can ensure timely reimbursements for your practice. Only the latest technology is used to submit error-free claims. Our team works with the aim to help you maximize revenue, minimize claim denials, reduce practice costs and offer you enough time to concentrate on provision of quality patient care.

 

Category : Outsource Medical Billing