Why Outsource?
Top Considerations When Deciding to Outsource
It isn’t easy to decide if a medical practice should do its billing in-house, outsource it to a medical billing company, or even use a combination of the two. As you evaluate whether to consider outsourcing, here are nine reasons that outsourcing your medical billing may be beneficial to your practice.
More Focus on Patient Care
If your practice manager and staff are responsible billing operations then it’s likely that both your billing and patient care is not functioning at it’s full potential. Outsourcing all or some of your billing operations to a specialist allows your staff to focus on what’s key to your practice… exceptional patient care.
Reduced Billing Errors
When your staff is continually context switching between practice operations and billing there is often a high error rate. Even small mistakes can be costly. A billing specialist is highly focused and removed from the day to day distractions resulting in higher accuracy and fewer claim denials. AZMedMill maintains over a 98% successful collection rate.
Faster Reimbursements
By outsourcing your billing operations, you can ensure that claims are submitted daily, denials are corrected and resubmitted with high priority and that you get paid as soon as possible. You shouldn’t let your cash flow be dependent on when yuor staff has time to catch up on billing.
Business Continuity
What happens if your in-house billing staff decides to leave. How quickly can you hire a quality replacement? How long before they are fully trained and familiar with your business processes? What about extended vacation or unplanned absences? In-house billing can render a medical practice vulnerable to such inconsistency and instability. Outsourced billing eliminates this risk and ensures that your cash flow is never disrupted.
Consistent Compliance
Your practice manager and staff have enough to take care of in keeping up with advances in medicine, treatments, technology, services, patient care, etc. Medical billing is no different, but does your staff have the time to keep up with ever-mutable billing regulations? Let a billing specialist keep up to date on new billing rules and requirements, new or revised billing codes, fee changes and carrier requirements.
Elevated Patient Experience
With an outsourced biller, your patients will have a direct line of communication with our experts who can respond to their billing questions and concerns more quickly and efficiently than your already overworked staff resulting in improved patient experience and higher customer retention.
Reduced Overhead
Partnering with an outsourced billing specialist reduces your overhead by transitioning your cost structure from a fixed departmental expense to a variable cost that’s directly tied to the net revenue collected. When patient visits and reimbursements are down, your medical billing fees are correspondingly lower.
Peace of Mind
Knowing that you have experts focused on maximizing the revenue that your business can generate… you’re free to focus on other areas of your practice that may need more attention
Expand Clinical Space
By outsourcing your medical billing, your unused administrative space can be turned into revenue generating space such as an additional exam room or on-site lab.