Of course we want you to consider outsourcing your medical billing and admit it you are interested too and that is why you are here reading this. Internet literally has made the world a global village and managing distance and getting in contact are more easier than ever and why is that relevant to the question of should you choose to outsource your medical billing let us tell you….it makes things easier for you to handle. It gives you options to choose your outsourcing company in literally any time zone and still have expert professional services available to you 24/7. We are not going to give you 8 reasons to outsource your medical billing  or 6 reasons why outsource is the best solution to medical billing. However, we are going to try and help you understand and make an informed decision on the subject.

WHAT HAPPENS IF YOU CHOOSE TO OUTSOURCE:

Outsourcing has become quiet mainstream in the past decade or so. For a provider the first responsibility is the clinical care he/she provides and then comes the billing and the revenue cycle and the cash management. With the whole plethora of ICD-10 codes now in the works medical billing has become more hard and challenging. So let us consider the benefits of outsourcing.

• Out sourcing the medical billing helps keep the limelight on the most important aspect of your practice and that is patient care. With more time available and a relaxed mind you will be able to concentrate more on the quality of the service you provide to a patient ensuring a more value based service and a more satisfied patient. They don’t teach you medical billing in medical school so a billing service may come in very handy in helping you keep a steady and fast revenue and helping you keep your focus on the real reason why you are in the business of helping people.
• Outsourcing will help you in reducing costs. Having an in house biller can be expensive when it comes to payroll, benefits, 401K, vacation time, office supplies, office space and the upkeep of medical billing software. Lets face it your biller will go on vacations or get sick and that may actually delay your claims and submissions.Choosing to outsource is more cost effective as most outsourcing companies have very economical solutions and offers to handle this part of your business and they have a steady team of organized and dedicated people who can help you keep your business running like a well oiled machine no matter what.
• The outsource companies know and understand how to talk the medical insurance language. That is one less headache for you as you won’t have to deal with the nitty-gritty of insurance claims and processing. The outsourcing company will deal with that and keep up with the ever changing rules and requirements of Medicare,Medicaid and third party payers.
• Being trained in their profession outsourcing companies help keep your claims more specific,detailed and there is less room for billing error. The claims are more accurate and timely. This in return keep the volume of rejected claims low and help you maximize your reimbursements regarding Medicare and Medicaid.
• The reduced cost and increase in reimbursements help you have more money in your pocket at the end of the day and keep your cash flow increasing and that helps the business side of your service running better and smoothly.
• Outsourcing companies can help you have a more custom based solution to your billing needs as they work with multiple clients and are aware of the latest trends in the medical business. They work with you and help you maintain a transparent and error free practice and can give you detailed analysis on month to month basis to help you understand and improve the business side of your practice. They are available 24/7 for your inquiries and questions and have detailed information available on how to deal with any contingency that may come your way regarding billing issues.

The whole idea behind hiring a professional billing service is so that you don’t have to deal with the complicated numbers and billing issues and this can give you peace of mind and help you to be more focused on the real reason you are in the healthcare business and that is the care you provide to people and the satisfaction of your patient.

WHY NOT TO OUTSOURCE YOUR BILLING NEEDS:

Before you make any decision i do want to point out that not all is sunshine in the business of outsourcing your billing needs and there are some negatives to it albeit tiny ones.  After all i did promise you that i will help you in making an informed decision. I do want to point out that contradictory to what you will read else where outsourcing your billing needs does not mean giving up control over the whole billing setup. In my opinion most of the issues and problems you might face with outsourcing stem from making the wrong choices and choosing the wrong company.

• Things might become a bit difficult to manage if you and the outsourcing company understand the agreement/contract differently because legal language can be a bit complicated to interpret so make sure you understand what’s exactly being said. Read your contract carefully, take your time and do your research before shopping for an outsourcing company.
• Doing the above may mean additional costs as you may have to hire a lawyer or a middle liaison person to communicate and convey your requirements and understand what’s being offered to you.
• There is a bit of grey area when it comes to HIPAA and patient privacy when a third party is involved. There can be accidental or intentional violations of the HIPAA as more people have access to the patient’s financial, personal and medical information. So go for a reputable firm especially when it comes to them taking care of the privacy laws.
• There may be problems for some of your patients who may want to have different payment options or may want to discuss with someone face to face about the exact numbers before getting the medical services from you. If your setup is complicated it may result in patient un satisfaction and them being driven away to other competitors.
• If you have the kind of medical practice specialty where large payment sums are involved like laser treatment clinics or cosmetic surgery specialities make sure your outsourcing company has experience in those as payment options and style is different than regular specialities.

Knowing all your options is the key to making a successful relationship with an outsourcing company and benefiting from using one.

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