As a healthcare practitioner, your staff and your biggest worries should be your patients’ health and your high-quality service to such, not medical billing claims. Outsourcing your medical billing claims can seem like a daunting task and feel like you’ll lose all oversight of your billing, but the reality isn’t quite so dramatic and much more transparent. Eliminating the task of internal medical billing could be to your benefit, as it will free your staff from the repetitive tasks related to it and allow them to become more invested in interactions with your clients and dealing with other practice issues.
There’s a common thought that you lose all control of your medical billing when it’s outsourced, but it couldn’t be further from the truth. Firstly, you’re ensured to receive timely reporting and resolution on your claims. Even better, you won’t need to implement more internal reviews and raise other grievances within your office culture.
Outsourcing your billing could also result in more timely submission of claims, increased reimbursements, and a reduction in overhead costs. Another huge gain when external medical billing is implemented is that service providers must be HIPAA-compliant and maintain information safety and security processes, ensuring that their data is kept safe at all times. You also don’t have to keep up with constantly changing rules and regulations within the medical billing world. Billing companies must ensure they’re always up-to-date with these items, as they are dealing with varied practices, medical institutions, specialties, and countless regulatory bodies. There’s such simplicity in not having to continually update your billing software and your billing equipment, as your provider is responsible for that.
When you rely exclusively on internal staff, you might not have access to trained billing specialists, as ongoing training is time-consuming, difficult, and often unappealing to some professionals. With a medical billing partner, you’re receiving the help of fully trained and experienced staff, well-versed in all the business requirements of medical billing and coding. Another great advantage of being serviced by a billing company is that their staff is fully versed in ICD-10 and all of its updates, nuances, and regulatory highlights. This ensures that your staff is unburdened by the constantly changing landscape of the codes, versions, rules, and revisions set forth by the World Health Organization. At the end of the day a happy patient, happy staff and paid claims mean a happy medical practice, achievable with assistance from a great medical billing partner.
