Medical Billing Services - Top 5 Reasons Why Your Office Needs One!
Often, the thought process of keeping a service in-house versus outsourcing it comes down to not wanting to add another bill to the others that are already being paid. That being said, many benefits come from using a medical billing service compared to keeping it in-house. Here are the top five reasons why your office needs a medical billing service.
1. Improve Billing and Coding
One of the first reasons why is that a billing and coding service only does this type of work. The training that employees get helps them to reduce billing and coding errors. Billing and coding errors can be problematic in they slow down how your office gets paid and can reduce patient satisfaction if they have to call in to have these errors fixed.
2. Increase Cash Flow and Revenue
What happens when your billing staff goes on vacation or is out sick? Your claims aren't submitted in a timely fashion and can reduce your cash flow. Utilizing a medical billing service stops that from happening. They always have staff on hand ready to submit your claims as they come in. Plus, a reduction in billing errors can help to increase the revenue that your medical office sees.
3. Stay Legally Compliant
The laws covering health care and billing are continually changing, especially if you accept Medicaid, Medicare, and other third-party payers. Utilizing a medical service allows you to stay legally compliant with these ever-changing laws. Non-compliance can result in hefty fines and other penalties, so it can be beneficial not to have these issues come up.
4. Saves Your Medical Office Money
Medical billing and coding can be expensive. There is hardware, software, and training that needs to be often updated to ensure that your billing and coding staff can do their jobs appropriately. Also, you have to provide salaries, benefits, and set aside a room in your office for billing staff. Outsourcing allows you to reduce these costs by using a billing service, so this money can be reinvested in other facets of your business, such as hiring more medical assistants.
5. Focus on What's Important: Patient Care
Being able to eliminate the hassle of handling your own billing and coding gives you the opportunity to focus on patient care. Depending on your location, competition for patients can be fierce, and patient satisfaction is essential to keeping your appointment calendar filled. Focusing on patient care can improve the relationship between your staff and the patients.
Ready to ditch the old way of handling your medical billing in-house? Contact us today to learn more about how our service can help to change your medical practice for the better.