The idea of outsourcing has been both celebrated and demonized in the last few decades, due to the different manners in which it has been implemented. Although since the inception of the pandemic, outsourcing has once again become a viable option, as remote working quickly became the new normal. But many practices are still wondering, what do they stand to gain from implementing outsourced medical billing or coding?
As a provider of outsourced medical billing and coding, we’ve heard through testimonials the huge variety of incentives that comes from outsourcing these tasks. Much more than simply saving a few pennies, outsourcing frees up precious time for you and your staff.
Here is an overview of all the different benefits of outsourcing your medical billing and coding.
Saving On Costs
The most important benefit to most medical practices, outsourcing billing and coding can allow you to only pay for the work you need to be done. If you’ve ever had to hire a medical biller or coder, you will know that you have to give them other tasks between coding and billing to keep them busy. This ends up wasting your time and money, paying a skilled professional to do administrative or reception-related tasks.
Outsourced medical billing and coding not only eliminates the need for an entire staff member, which is often a huge cost of running a medical practice. It also allows you to only pay for the work you need done, leaving you to invest more in the business or take home more profit.
Easier to Manage than Staff
Not only will you be saving money on not hiring a staff member, you won’t have to deal with all the personal nuances that most people can’t help but bring into their job. Staff can often require constant morale boosting, especially during times of crisis such as these. By outsourcing certain jobs you can be sure that the coding and billing is getting done and that you don’t have to chase them down or remind them to work.
Saves on Space
Another added bonus of not needing to hire another staff member is not having to give that staff member somewhere to work. In some cases, medical practices will have to give up valuable space/rooms to staff with administrative roles such as medical billing and coding. By outsourcing such tasks you can start using that space for its original purpose again.
Higher Level of Security
For individual medical practices, the security of your database is of the utmost importance, especially when it comes to medical billing and coding. Many practices will therefore be forced to hire IT companies or install expensive anti-virus software to try and manage any threats to security. By outsourcing your medical billing and coding to a professional company who has experience in handling such sensitive data, you can rest easy knowing their security is of the highest degree. Several breaches of privacy in the US and even one in NZ since the pandemic started, have reminded many of the importance of patient confidentiality.
Focusing More On Customer Service
A surprisingly common practice in medical clinics is to hire a receptionist who is also capable of doing medical billing and coding. While this may seem to save on time and money, in the long run it’s your customer service which suffers. Sadly, tasks like medical billing and coding are not something which can be multi-tasked easily. A great deal of focus is required to enter the correct codes, so as to not mess up someone’s insurance claim or medical history. By removing these roles from your receptionist’s repertoire you will give them more time to focus on customer service, which in turn will make your business more attractive.
Support From Office
As outsourced medical billing and coding gains popularity, other roles in medical practices are also being outsourced, to the benefit of those clinics. Office support could be as simple as taking calls when your main line is busy, to being available to take billing information from clients at all hours of the day. This can improve your customer’s experience, and give them more faith in your clinic.
Outsourced Medical Billing and Coding
Not only can we help you reap all of these benefits for your business, we’re also a highly experienced and professional team of medical billers and coders who are ready to take you on board. Whether you simply desire outsourced medical billing and coding, or are after the whole package of office support, you can contact us today to learn more about these tailored solutions.