Submitted by Antonio Arias, MBA, CHBME on Tue, 10/10/2017 - 8:00

shutterstock_657637933.jpg

5 Reasons Why a Medical Billing Firm is Your Practice’s Best Ally

As for any thriving business, your in-house people are your practice’s best asset. But no matter how talented and capable your personnel may be, they’re not enough to help your medical office navigate the ever-changing landscape of the healthcare industry.

Every practice needs an ally for maintaining their financial health. And while tech companies and consultants may claim that they have the cure to what’s ailing your revenue cycle or cash flow, only a trusted medical billing service can deliver the following benefits to your medical practice.

Stability That Scales

No matter your practice’s size, relying on an in-house billing team can lead to revenue interruptions related to employee absences or staffing changes. And as payers get pickier about claim filing deadlines, you can’t afford to let vacations and resignations damage your ability to maintain financial health as (or if) your practice grows to serve a larger patient base.

Specialized Expertise

Should you really be using that code modifier? Does Humana pay on claims faster than Aetna? Who can I talk to about getting this denial sorted out? Even the most capable employees can have a hard time keeping up with specialized (and ever-evolving) questions and expectations across all areas of revenue cycle management. An expert medical billing firm is always on top of it!

Strategic Resourcing

Taking billing off your administrative team’s plate frees your most experienced and talented people up to work more closely with patients. And as the U.S. healthcare system evolves, that’s a smart strategy for sustaining financial health: Deploying team members into care coordination and “patient ally” roles can help you comply with value-based government programs.

Smarter Data

To rise to their clients’ ever-changing expectations, medical billing firms today are utilizing the healthcare industry’s most advanced technological tools and services. With smarter solutions for credentialing, contract management, and denial monitoring, a billing service can deliver your practice with top-tier data for informing expansion decisions, shifting your marketing strategies, and much, much more.

Stronger, Faster Revenue Performance

Amid the many day-to-day struggles of serving your patient base, it can be hard to carve out the time to conduct eligibility checks, scrub claims, resubmit denials, and monitor collections. But a medical billing firm is ready to go to bat for you… and in the process of making sure you get paid every dollar you deserve, they’ll also get you paid faster - creating an an alliance that positions your practice for long-term success in an ever-changing landscape.

 

Are you interested in learning more revenue cycle management tips? Visit our blog! 

...and if you need help from a medical billing company...

CONTACT A BILLING EXPERT

Topics: Practice Management, Medical Billing Company, Meaningful Use Stage 2

EHR in the News