What is the core of your practice? Is it helping patients or is it billing insurance companies? A medical practice is a for-profit business. But, it is a business that should be focused on helping patients, not on chasing down claims that are not being paid by the insurance company. Using outside medical billing services, instead of doing it in-house, is one way to get back to the business of treating patients.
The Reality of Doing Medical Billing In-House
Most medical practices have one, maybe two, people whose job is to code and bill claims for submission to insurance companies. That person has a laundry list of things that have to be done to get a claim ready for the insurance company. The medical records have to be reviewed to ensure completeness. Then, those notes have to be translated into the appropriate codes. The …show more content…
Using a medical billing service relieves your practice of managing these stresses.
Plus, you don't have to bear the cost of hiring a coding and billing specialist for your office. This can save tens of thousands of dollars for a typical medical practice. That means lower overhead for the practice, and one less employee to manage.
Are There Any Disadvantages?
Two of the most common concerns brought up with hiring a medical billing service is loss of control and concerns with privacy.
It is understandable that you want to maintain control over all aspects of your practice. Hiring someone else to perform just a critical part of your practice can be unsettling. And, you likely don't want to share your practice's current finances, especially if cash flows are tight.
Hiring a medical billing service that has experience will allow you to focus on what you do best: treat patients. This will lower your overhead costs, making cash flow better. In addition, the higher collection rates will improve your financial standing in the long run. For more information on our services, call (951)
The Reality of Doing Medical Billing In-House
Most medical practices have one, maybe two, people whose job is to code and bill claims for submission to insurance companies. That person has a laundry list of things that have to be done to get a claim ready for the insurance company. The medical records have to be reviewed to ensure completeness. Then, those notes have to be translated into the appropriate codes. The …show more content…
Using a medical billing service relieves your practice of managing these stresses.
Plus, you don't have to bear the cost of hiring a coding and billing specialist for your office. This can save tens of thousands of dollars for a typical medical practice. That means lower overhead for the practice, and one less employee to manage.
Are There Any Disadvantages?
Two of the most common concerns brought up with hiring a medical billing service is loss of control and concerns with privacy.
It is understandable that you want to maintain control over all aspects of your practice. Hiring someone else to perform just a critical part of your practice can be unsettling. And, you likely don't want to share your practice's current finances, especially if cash flows are tight.
Hiring a medical billing service that has experience will allow you to focus on what you do best: treat patients. This will lower your overhead costs, making cash flow better. In addition, the higher collection rates will improve your financial standing in the long run. For more information on our services, call (951)