Why You Should Outsource Medical Billing

As a medical practitioner, you already know how cumbersome and long winding health care reimbursement is. Billing for medical services needs to be done promptly and as error-free as possible in order to maintain your practice’s steady income stream and to avoid financial losses.

Billing for medical service entails specialized knowledge of diagnosis and procedure codes. The staff at your practice may not have this particular training and sending them to learn these would be another financial burden on your part. At the same time, billing for medical service rendered to any patient requires a great deal of time which neither your staff nor you necessarily have. Billing cycles can take anywhere from several days to several months to complete, with numerous interactions in between the practice, the client, the insurance company or the payer. This is even longer when some claims are refused due to errors. Rejected claims are ping-ponged from the practice to the payer several times before payout is actually sent to the former’s account. More often than not, the practice will get tired and just abandon the cause, simply accepting it as a loss.

Outsourcing billing services for your medical practice is indeed a good business decision. They conduct billing for medical services as well as surgery, pathology, anesthesiology, radiology, and ambulatory care settings. Hiring medical billing services has several other benefits aside from saving you precious time. One of which is saving on costs.

You will be saving in terms of having fewer employees in your practice and spending less for office equipment needed to complete billing tasks. In addition, claims processing and collection will be more efficient and fast. You will no longer get burdened with the task of following up the payer and client, especially if there are bills which can’t be covered by the insurer.

These medical billing companies either charge you for full services or on a fee per claim basis. For the latter, you may be required to pay a flat rate of $1-5. There is no fixed price range for full services, hence it is important that you conduct your own research. As a rule of thumb, the size of your practice should be taken into account when looking for billing company. For instance, low volume practices may be better off getting a fee per claim billing service. Recommendations from your colleagues can also help you find reliable billing services for your medical practice.

Processing medicare claims is cumbersome and lengthy. Outsource billing services medical for your medical practice and have more peace of mind. Click here to find out more resources on billing medical services, click here.