Ambulatory Surgical Centers (ASCs’) are a very busy place with a constant influx of patients; hence additional administrative tasks can be time-consuming. With ASCs’, there may be challenging times when deadlines are short and compliance regulations are stringent, so managing billing can be a costly affair in ways more than one. Therefore, outsourcing may seem to be an effective option for Ambulatory Surgical Centers.
Furthermore, there are a lot of aspects that need to be taken care of when billing. Any negligence can cause a loss of revenue. The in–house team may or may not be able to cope up with the changing regulations resulting in the submission of incorrect bills. Moreover, the ASC teams’ primary role would be to attend to the patients and the simultaneous billing could seem like an added stress.
The ASC industry is pegged at 28 billion dollars with an annual growth rate of 4%. It is employing more than 270,000 people and AmSurg is one of the pioneers in this space.
ASC’s are a cost-effective way of carrying out immediate surgeries and have an improved quality of patient care. They provide a cost-effective alternative to hospitals that are grappling with scheduling delays, the paucity of operating room facilities, etc. In the coming years, the industry is expected to grow owing to health reforms.
The benefits of outsourcing are mentioned below:
- Billing companies are adept in dealing with payers and in case of errors of any kind, can be skillfully handled by them with a thorough follow up.
- Overhead costs of hiring a billing team and handling the ensuing staff issues can take away a lot of time and money from the practice and in this case, outsourcing can help in reducing costs of hiring your own team.
- With outsourcing, there is someone who is always working on the claim. Small in-house teams may result in errors in case of absenteeism that needs to be compensated by other members.
- The medical billing team is abreast with the changing regulations. In the ASC, the coding team might be small and unable to constantly keep up with the changing government regulations. Medical billing company, on the other hand, has experts who keep themselves updated and thus, minimal errors.
- With the impending ICD–10, outsourcing seems like an effective option since it will save you the costs of training your staff and upgrading your systems. Billing companies have their staff ready to roll out with the new coding system and assure you minimal errors in billing as also a denial management strategy to handle denials.
With tons of medical work for intricate procedures to be done in Ambulatory Surgical Centers’ billing and coding, these services if outsourced can bring in more benefits and cost reductions. Please share your thoughts on the above points and state if there are any more pointers that could urge outsourcing.