If you’ve never used a professional billing service before, you may be curious about it. It can be time-consuming and tedious to process all of your own billing information, so many companies choose to employ a billing service to streamline things. However, it’s been argued that these types of services might be unnecessary and that companies can do all of their billing themselves. This couldn’t be further from the truth. There are many benefits to using a professional billing service, and we’ll give you just a few here.
If you’re in the medical field, it’s highly unlikely that any of your regular employees are also highly trained in accounting. Asking (or worse, expecting) an employee to do a job they aren’t comfortable doing almost always backfires. Your employees are stressed out, their normal work suffers, and mistakes are made in your billing process. These mistakes then confuse your patients, and you’ll likely have to call in a professional anyway to find where the mistake occurred. All of this can be avoided with a billing service. Their employees are trained to do one thing: process your billing accounts accurately. They’re good at what they do, and they can keep your business moving forward.
Have you read up on CPT codes lately? Probably not, but your billing service has. As more and more people begin to utilize regular health care under the Affordable Care Act, new laws have been put into place regarding the billing process. It’s extremely difficult for a layperson to properly acquaint herself with all of this information, and to stay up to date with changes. Not knowing the laws can get you and your business into legal trouble. Outsourcing your billing, on the other hand, protects you by placing all of your information in the hands of professionals who spend countless hours making sure they’re accurate.
Billing services get your bills out faster, which means that your patients are paying you faster. With the considerable cash flow required to keep a medical practice running, it’s important that your payments are getting in on time. Trying to do your billing yourself means that you’ll inevitably fall behind at some point, compromising your work (and sanity) as you try to get caught up, and causing you to run low on funds in the process. A small investment in a billing service will yield huge rewards in the long run because you’ll see your money faster than ever before.
It just so happens that we’re one such service that specializes in medical billing. We know how to handle your patients’ invoices and can accurately and quickly process billing paperwork. Talk to us today about how we can help in your practice.