Outsourcing makes good business sense
Achievable benefits with outsourced billing:
Free up office space
- Add additional revenue generating space.
Some employee turnover becomes irrelevant
- Reduce employee turnover in the billing department.
- Only large practices justify a billing department employing individuals with specialized skills and levels of sophistication.
Reduce incoming phone calls
- Claim error reductions generate less inquirings directly to the billing service.
Turn fixed expenses into variable
- Office space and staff with fixed minimal levels incrementally increase step-wise.
- Paying a percentage tied to collections directly correlate between collections and cost.
- Align your interests with the billing service.
Know your marketplace
- Broader access to your specialty marketplace—the most valuable intangible of outsourcing.
Access solid data analytics
- Maximize reimbursements.
- Identify bottlenecks.
- Teach providers and staff how to avoid negatively impacting claim errors.
- Obtain alternative coding methods to achieve favorable reimbursements.
Know your accounts receivables
- Monthly aging (30, 60, 90 days receivables) reports typically not provided by an inhouse billing person.
Have a resource at payer offices
- Biller establishes a personal relationship with a single payer allowing expedited problem resolution.
Be prepared for a payer audit
- Biller acts as your expert and advocate in case of a payer's audit since familiar with the process and possesses the documentation as an ordinary course of business.