Providers and other members of the healthcare fraternity are gradually conforming to the idea that outsourcing their billing operations to a specialist medical billing company is the best route to take. Performing monotonous billing tasks in-house is now viewed as an arduous and redundant function in general and there are good reasons to substantiate this perspective. According to the proponents of outsourced medical billing, specialist organizations simplify and streamline financial workflows in a manner which cannot be achieved with an in-house billing manager. Adversaries on the other hand proclaim outsourcing is not as effective a methodology for handling a practice’s finances as portrayed by the health community in general. Regardless, the fact is that the number of practices opting for outsourced medical billing is rapidly increasing by the day. Discussing this subject matter further, we’ll attempt to shed some light upon why this phenomenon is emerging.
A clinician based in North Dakota shares his views saying, “The number of claim submissions made by my practice has increased dramatically. Moreover, the number of claims rejected is practically non-existent and my claims are hardly denied. I have to thank my medical billing company for all this and my practice has improved financially. I only have to incur minimal fees and my retained earnings have improved as well. The best part for me is that I don’t need to worry about billing hassles anymore and can focus more on providing quality care to my patients.”
Evidently, medical billing services have helped clinicians nationwide to concentrate on their primary responsibility i.e. patient care. Rather than the profitability of the practice diminishing through payments made to the medical billing service, the providers enjoy a better financial position owing to a greater number of claims being processed and reimbursed. Operations become more accurate since the mode of documentation and electronic processing of claims reduce chances of faulty manual data entry.
If indeed as depicted by statistics, billing processes are expedited and result in greater revenue. Why wouldn’t a practice choose to outsource rather than managing their billing in-house? To conclude, rationale dictates that due to the prolific nature of positive results attained via outsourcing, we will observe an even greater number of practices which turn to specialized medical billing services in the long run.