Medical billing can be a complicated process that involves experience and patience. With so much involved, many practices choose to outsource their work to third-party experts. Sometimes it makes more sense to outsource your billing to keep up with work that can be done in the medical office.
What is Medical Billing?
Simply put, medical billing is the process of submitting and following up on claims with health insurance companies. Medical practices need to do this to ensure payment for services rendered. Having an improper medical billing process or an experienced medical biller can result in thousands of dollars lost. A great medical biller avoids common mistakes (such as using wrong codes or old software) and makes sure the medical office revenue cycle runs smoothly.
Pros of Hiring a Third-Party Medical Biller
If your staff does not have the latest training – or they have been making mistakes that cost the practice money – then it may pay off to outsource your medical billing to a service such as The Psych Biller. We can translate a healthcare service or investigation into a billing claim as quickly and efficiently as possible. What does this mean for you?
It means that your bills will be processed much faster. It also means that you can devote more staff and time to engaging with your patients. Since the billing aspect of your business will be handled by pros, faster cash flow and better payments rates are a few of the things that your accounting department will enjoy. Your operational costs will be lowered by outsourcing your medical billing. This means you can allocate more resources to staff development, training and office amenities. Remember: happy employees equals happy patients.
When Should You Outsource Your Medical Billing?
Consider these questions:
- How trained are your employees?
If your employees are not trained in medical billing, or you have had bad experiences with medical billers in the past, it might pay to outsource.
- How many errors are being made?
If you are encountering too many obstacles when it comes to updating/buying medical billing software, problems with verifying claims or just have too many errors in general, that can be an indicator that things need to change.
- What kind of practice is yours?
Are you a general practice or a specialty practice? General practices are usually more straightforward when it comes to billing. If you are in a specialty niche, make sure that you verify the biller you are outsourcing your claims to has experience in that area.
Instead of predicting how much staff you need to hire to continue your medical billing services, outsourcing the work can take the stress off.
Remote Medical Billing Services
It can pay to hire someone with the know-how. The Psych Biller has years of experience billing for medical professionals, chiropractic and mental health professionals. You can put our experience to work remotely for your practice! Lowering your costs in office rent, equipment, storage space and staffing are just a few of the benefits of using our service. We provide everything that an exceptional in-house biller provides, but at a fraction of the cost. If you need help with medical billing services, call The Psych Biller today!