From time savings to money savings, outsourcing your medical billing to a professional who specializes in this industry can be very beneficial to your company. Particularly if you are a small medical practice, billing can be a demanding and challenging job that takes up a lot of your time and productivity. Using an outside medical billing service to handle these tasks for you is the solution. You may already know that a medical biller can be convenient, saving you from those mundane tasks; however, there are many lesser known benefits to using this type of service.
Reduce Billing Errors
When you entrust your medical billing tasks to an experienced, professional team with training in this area, you get peace of mind knowing your claims are being processed accurately, efficiently, and timely. Handling this on your own or farming this task out to someone within your company who is already taxed with their own duties can lead to mistakes, and those mistakes can be costly. When you choose an independent medical billing service, those professionals focus solely on this service, day in and day out. They have the software, resources, time and extensive training to submit medical claims so that the number of denied claims due to billing errors is reduced.
Outsourcing your medical billing can put more money in your pocket annually, as you could realistically be saving thousands of dollars when it comes to yearly salaries and benefits for an in-house employee. You also save on:
- Office supplies and furniture
- Billing software
- Computer equipment
Most medical billing services charge a flat rate or percentage of each claim they handle, but those fees are significantly less than what you would shell out on a full-time employee with insurance and benefits.
Focus on Customer Care
When you don’t have to worry about the stress of technical tasks like medical billing, you can spend more energy and time focusing on what matters most: ensuring your patients get the attention they deserve. It simply isn’t possible for physicians, especially in small practices, to provide superior patient care if they’re pulled in other directions when it comes to the office finances. On the other side of the coin, patient satisfaction in response to that extra attention is increased. Your satisfaction rates will increase, referrals will ideally increase and you can add to your practice one patient at a time.
Boost in Cash Flow
No office is immune to the effects when an employee calls in sick or leaves on vacation. You have to scramble to find coverage for the day or week, while piggybacking those tasks onto someone else’s shoulders within your office that may not have the experience to deal with it. This inconvenience is compounded when your in-house medical biller can’t come in to work and you’re left with a pile of unpaid and unprocessed claims. You may be able to manage for a day, but what if this goes on for days or weeks? As you well know, interruptions in billing processes will delay payments and ultimately hit your bottom line in the form of less cash flow. To keep this cash flow steady, invest in an outsourced medical billing service for seamless operation.
For More Information
Would you like to know more about how outsourcing your medical billing can benefit your company? We would be happy to help. Contact Medical Healthcare Solutions, Inc. (MHS) in Andover today at 800-762-9800 or fill out our convenient online form. Bringing decades of medical billing experience and service to the healthcare community, we are your trusted full-practice Revenue Cycle Management company with customized, confidential solutions.