In today’s turbulent economy, doctors with their own practice must find a way to reduce overhead and prevent an increase in health care fees to their customers. One way to effectively reduce the cost of overhead is to outsource medical coding. Medical coding is a necessary role in all health care environments. Without medical billing, doctors, hospitals, long-term care facilities, and clinics, may have to wait months to receive the money they have earned from insurance companies and patients. Medical billing outsourcing is the perfect alternative to employing your own medical coding specialists. Understand the benefits in cost and efficiency and consider employing a respected third-party collection company.
The Difference Between In-House and Outsourced Medical Billing
When medical practitioners have in-house medical billing specialists they employ medical billers directly. This means that the billing specialists are on the payroll and are generally housed in their office. When medical practitioners outsource medical billing functions, they hire a third-party company to provide medical billing services. This means that the physician does not pay the specialist handling their accounts directly. Instead, they will pay a fee for the services the outsourced company offers. When physicians can shift their focus from managing billing specialists to providing critical care for their patients, they can keep patients happy while still reducing their overhead. This is one of the main reasons why physicians around the nation are outsourcing the medial coding function.
Complete Your Billing in a Professional and Efficient Manner
In-house medical coding does provide the perception of control for some physicians. While this is a perception, it is far from the truth. The truth of the matter is that physicians can risk losing business by hiring the wrong medical billing specialists. If the specialists you hire are unprofessional and rude, the patients and insurance companies are not going to want to deal with your practice. When you outsource, you have peace of mind in knowing that professionalism is guaranteed. Outsourcing companies monitor calls for quality control. Understandably, you cannot stand over your staff members to ensure all patients are handled professionally. Outsourcing companies want to keep your business so they promise efficiency so you do not take your business to another company.
No More Payroll and Insurance Worries
When you have staff members on your payroll, you have to worry about calculating hours and offering benefits. If you do not offer great pay and attractive benefits, your employees are not loyal. In addition to this, you will have to pay for worker’s compensation insurance and go through audits when you estimate the wrong payroll calculations. When you outsource medical coding, the company you hire takes on this responsibility. You get the quality services you need to stay in business without all of the hassle.
Owning your own medical practice is stressful enough. When you take on the added burden of managing your own coding specialists, you may be taking away from your patients. Outsource your medical coding and do what you went to school to do.