Hiring a medical billing service may seem to be pointless, wasting time and money, but in reality, it provides doctors and their staff more free time to continue to serve more patients. Billing services take on most of the dirty work that can be involved in billing including collecting funds and handling rejected claims. There are multiple reasons to hire a medical billing service but one of the main reasons is saving time for the doctor.
There is ultimately a higher net income that is accomplished through a billing service in comparison to the in-house billing department. The outsourced medical billing service can eliminate much of the hassle involved in the billing process for the doctor. Here are some reasons that will help you determine if hiring a medical billing service is right for your health clinic.
Training and Software
Medical billing software is not only costly, but there is constant training involved that will take time. The service company will help save time on having to train a new employee on the software. Another aspect of billing software is the upgrades needed on a regular basis. You don’t have to pay extra fees for the upgrade on the software if the medical billing service is handling it. The other benefit is not having to pay for the software from the beginning. This helps save you thousands of dollars that software and its upgrades cost, not to mention the money additional trainings cost as new updates change the way the system works.
If you tend to have a high staff turnover then it can be rather costly of time and money to have to train each new person to work in the billing department. As the claim department is a major part of a healthcare provider’s success, it can be rather damaging to the department if you are constantly having to train and hire a new person. It can slow down the process of several claims as well as increase the number of rejections on the claims. Having a medical billing service handle this will help you avoid this from happening to your clinic or hospital.
Decrease the amount of corrections, collections and processing time by hiring a medical billing service. They will provide an increase of payments resulting in more patients paying their bills. The billing service handles contacting these individuals so you don’t have to worry about chasing anyone down. Fewer claims will be rejected as the service company will ensure more accuracy in filing the proper paperwork along with being more thorough with what insurance companies are looking for.
For any new healthcare provider, save even more time and hassle by using a medical billing service as they will help prevent common mistakes with the amount of experience they have accumulated.