Reasons to Outsource Your Medical Billing

When health professionals decide whether to outsource their medical billing, it can be a stressful decision. Medical billing problems can occur for a number of reasons. Many of these reasons center around the hiring and managing of staff as well as properly submitting insurance claims. The knowledge and capability of a staff are the lifeblood of any healthcare practice. With this in mind, the staff and ABCS RCM has compiled five great reasons as to why health professionals should consider outsourcing their medical billing process.

[1] Inefficient Billing: At Advanced Billing and Consulting Services we have found that medical billing for health professionals is an inefficient process. With increasing requirements from the Centers for Medicare & Medicaid Services, as well as demands from commercial insurance providers; submitting and processing patients claims is becoming more complex. There are more reporting requirements and documentation guidelines for a healthcare provider to follow. Having an outside party take care of this task will usually decrease the number of rejected claims as well as decrease the amount of time it takes to receive payment from a payer.

[2] High Staff Turnover: Unreliable or absent employees is devastating for an agency’s bottom line. This is especially true for the claims and billing department. Submitting and rendering claims is at the heart of the revenue cycle for a company. The lack of properly trained, or missing, staff can slow down or damage the overall revenue cycle of the organization. At Advanced Billing & Consulting Services we manage staffing and billing issues so that practices experience uninterrupted cash flows.

[3] Technical Issues: If healthcare providers wish to keep their medical billing process in-house, they will need to invest in specialized software, hardware and IT support. They will also need to train their staff on how to use the maintain this investment. It is usually easier to let an outside entity deal with software upgrades, slow connections and in-compatible EDIs (electronic data interchange). Modern health professionals must stay current on constantly changing technological requirements and trends. If they do not, then even the best medical professional will be seen as “obsolete” or behind the times.

[4] New Health Professionals: New providers have plenty to learn and worry about, without having to focus on claims submissions, processing and collections. Medical billing problems are the last thing that new healthcare providers want to worry about when launching their career. Outsourcing this task will provide new health professionals more time to settle in and learn their new profession. Starting a new practice is challenging enough, without having to worry about hiring, training and managing a billing department.

[5] Priorities: Many health providers were not trained to be business professionals. They may have a better grasp of organic chemistry than business administration, finance and accounting. Their primary focus is to help patients. However, if the accounts receivable for a practice is not managed properly, there are financial repercussions. Outsourcing the billing process eliminates this problem and allows health professionals to allocate more resources directly to the task of treating patients. They can also focus on expanding the number of patients served by their practice. Healthcare practitioners should focus on what they were trained to do — treat their patients. Let the experienced staff at ABCS RCM track claims and crunch the numbers.

Questions about this medical billing, credentialing or a related healthcare topic?  CONTACT US