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Although it may sound counter-intuitive to some, outsourcing can have a tremendously positive impact on the operations of a medical practice.   

The benefits are numerous. From cutting down on costs to freeing up resources for core business activities, outsourcing menial tasks can provide medical practitioners the support they need to build a successful organization. 

The benefits are numerous. From cutting down on costs to freeing up resources for core business activities, outsourcing menial tasks can provide medical practitioners the support they need to build a successful organization. 

  In 2016, Deloitte released a survey which revealed that 59% of participants were outsourcing to save money, and 57% wanted to dedicate their time to their core business activities. Additionally, over 50% of respondents found outsourcing helped add value through various business development and strategic activities.   

In fact, almost 80% of participants felt great about their decision to outsource and their outsource partners. When considering outsourcing options for a medical practice—especially medical billing processes—the benefits can be substantial.   

Doing so can give employees the ability to focus on other more important responsibilities while simultaneously helping build a consistent revenue stream for your practice.   

Boosting Medical Practice Revenues 

Want to get paid faster? Then focus your attention on cash flow! How much time you spend in revenue cycle time has a huge impact on your profitability.   

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By outsourcing your medical billing processes, your practice can submit claims much faster, helping speed up payments you receive.  

Additionally, the medical billing outsource professionals you hire have the expertise to reduce errors and detect denials which can be reworked and submitted for payment as well.  

Outsource the Boring

Running a business means that a number of responsibilities will need to be taken care of by your staff, whether they want to do them or not. Tasking staff members with things that don't apply to their skill set can lower the quality of service at your practice. 

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Thankfully, outsourcing menial tasks can help employees refocus on what they do best, like providing incredible care and attention to patients.   

Outsourcing projects that could be handled by those that specialize in those tasks can free up your staff to focus on things that really matter and make a difference to your practice.    

Save Money by Spending It 

By outsourcing, your medical practice can actually save money as the years go by. By outsourcing to specialists, practices can save thousands in yearly salaries and benefits for in house staff.   

You also won't have to buy a bunch of different software, maintenance services or annual upgrades for these additional requirements.   

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When staff doesn't have to worry about menial responsibilities, their stress levels go down and workplace satisfaction goes up.   As you can see, these changes also have a positive effect on employee turnover. These savings can really spike up profit margins while making both your staff and patients happier at the same time!    

In Conclusion 

Although you may think that outsourcing is the last thing your practice needs, you will definitely see and understand the benefits once you start making the investment.  

Hire skilled staff members and let them focus on what they're really good at - not repetitive menial tasks they don't understand. Outsource the things your practice doesn't specialize in and focus your energy on satisfying your patients instead.   

 

To learn more about how Billing Savi can help you save on your medical billing process, contact us by clicking here.