To run independent medical billing practice becomes more complicated with every passing year. There are new regulations, coding updates (e.g. 2021 changes to E/M Coding), revisions in payer rules, and performance measures that can significantly impact your reimbursement. You need oversight of RCM experts to your revenue cycle, healthcare organizations cannot put their cash flow and revenue at risk when they are slow and adjusting with these new changes.
Here are some important reasons to outsource your medical billing:
Collection from Payer and Revenue Decreasing
If your medical practice is struggling with multiple unclaimed patients. It’s a matter of time, it will start impacting your collection as claims are going unnoticed.
By partnering with Medical Billers and Coders – a leading medical billing services company, you can benefit from the experts and certified in billing and coding staff can provide. Our trained staff make sure that the charges and coding process is optimized and compliant with all regulations. Also, you can see that all your claims are getting files on a daily basis. You will see the rejections are being handled by an expert with the time and expertise who will overcome the challenges to collections.
Gain Transparency in Financial Reports
To create a financial report and keep it transparent is a little difficult as you are busy with your patients.
At MBC, we hear from our new clients that they are surprised by the level of accurate reporting, we provide on a daily, weekly, and monthly basis. We provide customized financial reports practice to practice per their requirements.
You will always feel that you are getting enterprise-grade level reporting and our suggestions with your practice management software. This ensures solo providers to achieve more in less time, with a complex medical billing process.
Assurance of all Charges Captured
Are you currently confident that all your charges are getting captured correctly? Outsourcing your medical billing function will make sure that all your visits are accounted for and the associated medical claims are created in a timely fashion. It’s crucial to capture charges for all visits and then submit them. We provide you assurance of all charges capture with accuracy. We align with your existing process to maximize your collection from payers.
Focus on What your Do
It is the benefit of outsourcing your medical billing to expert staff, now your entire off can concentrate solely on patient care. You can increase your patients experience. You can reassign your staff to more important tasks related to the quality of care and patient satisfaction activities.
How much does it cost to outsource medical billing?
Medical billing services can cost from $1000 to over $10,000+ depending on your reimbursement volume. Our charges vary from 4% to 8% depending upon the total monthly collection.
If physician billing and collections get handled by industry experts, physicians would collect more. Sadly, for healthcare organizations rapidly changing rules and regulations and staff has no time to stay informed on updates can impact your overall revenue.
You can leverage competitive advantage back by partnering with Medical Billers and Coders. Contact us today to know how we can increase your practice revenue by 35%.