Outsource Medical Billing is an Essential Service for Independent Physicians
Five reasons providers should outsource medical billing from an essential silent partner for independent physician groups: the ebix team of expert medical billing service professionals helps keep your medical practice autonomous and realize up to 10% more revenue by focusing our efforts on coding expertise, denials minimization, and data analytics & reporting.
Now is not a time to say “no” to creative ideas such as outsourcing medical coding and billing.
There is a learning curve to be surmounted when beginning to bill for any specialty. Ever-changing payor rules and mandates, specialty coding, and billing requirements can be tough to navigate for providers as well as for billing staff. Many times billers depend on providers to share appropriate CPT and ICD codes. Only providers may not be up to date on the latest coding guidelines. This lack of knowledge and coding experience can place a handicap on your receivables. ebix, Inc. understands that each specialty brings its own set of challenges. Accordingly, we work to develop custom workflows and a unique set of coding rules based on services provided by your healthcare organization.
- You’ll Get Paid Quickly
- Outsourcing to a Medical Billing Partner actually can Reduce Costs
- Time is Freed up for Office Staff
- Prevent Problems from Starting
- Find Someone With Billing Software Experience
You’ll Get Paid Quickly
Teaching administrative workers in your medical practice to handle the billing sounds like a great idea, but causes additional work for them. Hiring an outside consultant who handles only the billing lightens their workload, helping them to avoid problems such as these:
- Errors while coding
- Trying to balance different duties, such as going between coding and checking in patients
- Not interrupted by patients or co-workers while they are trying to focus on coding
Because a medical billing partner works with insurance companies on a regular basis, they know what the companies are looking for. Some companies want items billed or listed in a certain way.
The consultant knows how to appeal to each company since they work with them on a regular basis. This means your staff isn’t required to resubmit work.
Getting behind on payments is something no practice desires. An experienced medical billing consultant understands how important payment is, and knows the best ways to submit claims to the insurance company.
This keeps errors to a minimum. You’ll be paid quickly, and won’t have to repeat work over to suit the needs of the insurance company.
Outsourcing to a Medical Billing Outsourced Partner can Reduce Costs
Many companies fret over outsourcing work, thinking it costs them more money to operate this way. Choosing an outside partner to handle the work is the most efficient way of distributing the workload.
There are fewer errors involved when someone specializes in one specific job.
Other workers can focus on completing their jobs.
A medical billing partner is in-tune with what each specific insurance company requires.
This time-consuming job is given to someone who specializes in doing it. Overall, there is less stress.
Administrative workers aren’t rushing to complete this additional task. This means mistakes are less frequent.
Although there is an upfront cost, the results speak for themselves with the time and money saved in the long-term.
Time is Freed up for Office Staff
The abilities and time of your office staff depend largely on their education, experience, and how big your practice is. If your staff is already stretched thin, it makes sense to lighten their load.
- Administrative staff normally deals with issues such as:
- Greeting patients and giving them paperwork to fill out
- Contacting other doctor offices
- Setting appointments and handling cancellations
If your practice handles several doctors, the day quickly becomes busy for your staff. If you don’t have a dedicated staff member to handle billing, they go back and forth throughout their day.
In turn, this means increasing the likelihood of errors and other problems. Preventing quality staff from becoming overwhelmed and leaving is the goal of every business and medical practice.
By outsourcing to a medical billing partner, you’ll have clear duties outlined. There is no added pressure.
Prevent Problems from Starting
Although problems occur in any position, medical offices are subjected to additional rules and regulations. Medical records and billing have requirements for privacy and safety reasons.
The Office of the Inspector General can show up and audit, or go through, billing claims and records. If your practice chooses to process these in-house, that responsibility falls on your shoulders.
This means higher insurance costs and additional audits and regulations that become part of your work schedule. Avoid the problems associated with these procedures by giving the work to someone else.
Outsource the work to a medical billing partner, and never face the worry of liability again.
Your Medical Billing Outsource Partner Processes Advanced Software Experience
When new members of your staff do not have experience in medical billing, they need training and practical work before you can feel confident in their abilities. Choosing someone with experience both in billing and the software that handles it is instrumental in the success of your practice.
Individuals learning how to bill in software for the first time are liable to make mistakes. If they go back and forth between the billing program and other applications used in the practice, this increases the risk of mistakes.
An outsourced medical billing partner who has experience with medical billing software knows how to bill so there is less chance of denial. This ensures your practice gets paid quickly, without the headache of doing the entire process over again.
Contact ebix, Inc.
Don’t flounder in an endless sea of denied claims, feeling as though it’s impossible to get anything approved. Contact us today, and let us help you get paid. You’ll maximize the time your employees spend at work. There’s less liability on your shoulders when you outsource work to a medical billing consultant.
Call us today, and see how easy it is to get started.