Medical billing outsourcing solutions are revolutionizing the way healthcare professionals work. Thanks to amazing providers, like Billing Savi, medical practices are able to focus on the work they love, outsource the things they don’t, and build profitable organizations that genuinely help patients improve their lives.
Unfortunately, many medical professionals encounter myths about medical billing outsourcing when considering whether or not to take advantage of these incredible services. We wanted to take some time to clear up these myths and get to the truth behind the wonderful benefits of utilizing a great medical billing outsourcer.
Myth #1: Billing Outsourcing is Just Another Unnecessary Expense
Many owners of medical practices think that outsourcing their medical billing is just a ‘nice to have’ service. They think it will just leave a bigger dent in their wallet and would rather put in the elbow grease required to get the work done in-house.
This couldn’t be further from the truth!
Great medical billing outsourcers typically save their clients money by turning their organization’s revenue cycle into a well-oiled machine.
Although it can seem like paying an external medical billing provider will cost you more money, it can actually boost your total revenues significantly. By improving the collections process, outsourcing companies like Billing Savi are able to actually increase total collections for many different practices.
By outsourcing medical billing processes, medical practices are able to submit claims much faster, helping speed up the payments they receive. Additionally, medical billing outsourcing professionals have the expertise to reduce errors and detect denials which can be reworked and submitted for payment as well.
Myth #2: In-House Staff Can Handle Billing Tasks Just as Well
Medical practices also tend to believe that in-house staff can do just a good job of managing revenues and billing as an outsourcing company. Although staff may be familiar with many billing tasks, it is highly unlikely that they have the capabilities to handle billing operations as well as the specialists.
The medical billing industry is constantly changing and it takes specialists to be able to keep up with the innovations and alterations that regularly take place. Additionally, new software and technology requirements are always hitting the market, requiring billing professionals to upgrade over and over again.
For these reasons, it makes sense to let billing professionals handle these important revenue based tasks. A great medical billing outsourcer will know of the latest and greatest ways to handle billing procedures and also be stocked with the latest software and technologies that are needed.
Myth #3: Only Established Medical Practices Should Outsource
New medical practice owners tend to think that they should outsource billing operations after they have been established for a while. In reality, new medical practices have a ton to gain from outsourcing their revenue management in the early days when they’re getting started.
A new medical practice requires the coordination of hundreds of tasks and the establishment of countless procedures and business systems. Trying to figure out how to properly handle and execute on billing and revenue management during this time can cause a lot of friction and bottleneck issues.
By outsourcing these complicated tasks, new medical practices can focus on more important tasks while starting their organization, such as taking care of their patients and establishing a stellar reputation.
Outsourcing medical billing makes sense for so many reasons. By allowing specialists to handle billing processes, healthcare practitioners can focus on their crafts and ensure their revenues are being managed by professionals.