Five Reasons Why YOU Should Outsource Your Billing

When choosing to outsource your billing the decision might be difficult and feel as if you are losing control of your facility. When in fact, by outsourcing your insurance billing you are gaining better control and understanding of your revenue. So, why should you outsource? Below we have narrowed it down to 5 reasons on why you should outsource. 

1. Leave it to the PROFESSIONALS

Insurance companies can be difficult and getting payments can sometimes be tedious and time consuming. When outsourcing you are getting a team of staff who or specialized in knowing how to jump through the hoops to get you paid. With the knowledge that comes with trained professionals the staff understands what insurance companies are saying when claims are being denied and know what questions to ask, as well as, know how to break down what the insurance company is exactly needing. The amount of billing codes, changing in policies, protocols, and so on are endless. When using an outsourcing company you no longer have to stay up to date with these changes, instead you have a billing company that can tell you what the changes are and provide that information to your staff.

2. Prioritize YOUR Time

While outsourcing your billing you lessen the burden of giving up quality time that could be used on your patients to try to oversee your in-house billing department. Passing this responsibility to a qualified, trained company gives you the time to focus on what really matters, your patients. Not only does this free you from responsibilities and time commitments, but it does the same for your office staff. By freeing up your office staff from paperwork and phone calls regarding insurance, they have more time to focus on incoming calls from potential patients or current patients. This improves your office productivity and enhances patient engagement.

3. Complete TRANSPARENCY

When outsourcing your insurance billing, the billing company you choose should provide you with comprehensive reports for you to understand exactly what is going on in your facility. You will get more reports to look over your revenue cycle management than you ever have with your in-house billing. After partnering with an outsourcing billing company you are now working with a team of professionals who are obligated to increase you revenue. This means you still have complete control over you revenue cycle management without having to manage a billing staff.

4. INCREASE of Revenue

Outsourcing your medical billing allows your facility to have an increase in paid claims, lower overhead cost, and faster payments. With trained professionals your claims being sent out will be reliable, quick, and thorough. This decreases the denial rate and speeds up the process of you getting paid by insurance companies. Follow-up on claims are routine to make sure that your facility is not missing out on unpaid revenue and no payment slips through the cracks.

5. SAVE Money

When outsourcing your billing you decrease the amount of responsibilities that cost you money. Without in-house billing, the amount of staff needed decreases. This means less monthly salaries and benefits you have to pay. It also decreasesthe costs of training staff, education, and the upkeep of certificates will no longer be necessary. With outsourcing, the cost of technology, medical billing software, and maintenance will decrease as well. These marginal changes may seem insignificant, but they will save you money in the management area, human resource area, and even the cost of custodial fees.

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