Medical billing for your practice can be a stressful task. A lot of medical practices use in-house medical billers to file claims, but more often than not the process is lengthy and mistakes can slip through the cracks.
Outsourcing medical billing can help the billing process run more efficiently. In-house billing can increase the overall costs of your practice for a few reasons:
1) In-house billing requires a significant investment keeping up-to-date with practice software.
2) If you have a high turnover rate for your billing staff then this could slow down the billing process and the practice will suffer.
3) You might be a new provider and you have a lot more to worry about, and hiring a billing staff can be hassle that takes up time spent on patient care.
Outsourcing your practice’s medical billing can relieve some of these stressors. Third party services typically have a decreased number of rejected claims and reduce the time it takes to receive payment. Your practice is also saving thousands of dollars on annual salaries and benefits it would take to employ an in-house staff. Increasing your practices revenue by reducing overhead costs will lead to better quality of care for patients. Experienced third party billers ensure that claims are filed properly and in a timely manner. However, if you hire a company that is known for poor service but is cheap you won’t be seeing a big difference. You have to do some background work and look into billing companies that have good reviews and are known for providing great service then you will see why outsourcing medical billing is the right choice for your practice.