Topics: Practice Management, medical billing services
When it comes to achieving and maintaining financial health, every medical practice needs an expert on their side to help make it happen.
But what happens when your in-house team—as skilled and capable as they may be—becomes overwhelmed with a growing business, new administrative responsibilities and ever-changing policies and codes within the healthcare industry. If you’re operating without an expert medical billing company by your side, you may be losing out on significant revenue, as well as adding unnecessary stress to your team’s already-stressful workload.
Here’s why you should consider outsourcing medical billing services with a team of experts:
More Time for Patients
When you’re preoccupied with constantly monitoring collections, scrubbing claims and resubmitting denials, it leaves little time for providing services to your patients. Outsourcing your medical billing services to an experienced billing company can allow you to focus on the quality, specialized care they deserve.
More Opportunity for Revenue
With more time to care for patients comes more time to actually bring in revenue for your practice. And, when you have less billing errors to worry about, your payments come in faster, your workflows are more streamlined, and ultimately, you have much more potential for growing your company.
Less Expensive Than Hiring In-House
Unfortunately, maintaining an in-house team of medical billing and coding specialists can be expensive. First, there’s the cost of onboarding them, then the time (and money) it takes you away from your job to train them, then the cost of salary and benefits… the list goes on. But by outsourcing your billing to a medical billing company that’s had years of experience in the industry, you’re setting your practice up for short- and long-term success.
Will hiring in-house guarantee you the specialized expertise your practice deserves? The answer might be no. Your practice needs an experienced team who deals with insurance billing issues day in and day out to answer your medical billing questions for you. Should I be using this code modifier? Does United Healthcare pay on claims faster than Humana? Who can help me with this denial? A team of experts can handle the ever-evolving answers to your questions.
Hiring an in-house billing team (or individual) limits you to regular work hours in terms of availability. 9–5 service representatives may not be enough for your practice’s billing needs. A professional billing company can provide 24/7 support for you and your team so you have answers when you need them most.
See even more reasons to outsource your medical billing to a trusted insurance billing company today.
Want to learn more about how NCG Medical can help your practice? Contact an insurance billing expert now to find out!