Determining whether or not to outsource medical billing services can be tough for many medical facilities. However, it’s an important decision to make as it can impact the efficiency of a practice. Here at Applied Medical Systems, we specialize in medical billing services and have helped countless healthcare providers save money, reduce errors, ensure compliance, improve cash flows, and increase revenue. You should outsource medical billing services if your practice meets the following criteria:
There are billing errors on a regular basis.
Errors in medical billing can cause healthcare providers to wait for months to receive payment. If you’ve noticed denials related to eligibility issues, data entry errors, etc. you may need to look no further than your front desk staff to determine the cause. If your in-house medical billing team makes consistent mistakes, you should definitely consider outsourcing. Outsourcing medical billing services will decrease your amount of rejected claims as well as the time it will take to receive payment.
You would like to reduce labor cost.
An in-house billing department can be extremely costly. When you hire medical billers in-house, you have to pay them an average salary of $35,000 in addition to payroll taxes, worker’s compensation, insurance, 401k, and other various benefits. In addition, these medical billers need to be provided with expensive software and administrative supplies. By outsourcing your medical billing services to a company like Applied Medical Systems, you can reduce 30%-40% of your overall expenses.
Your employee turnover is high.
While turnover is a problem in any industry, it’s especially hurtful in a healthcare practice’s billing department. When a medical biller chooses to leave, cash flow is compromised and there is an increased risk of errors. Additionally, training new medical billers can be time consuming and drain resources for other employees.
You cannot keep up with changing regulations.
Medical billing regulations change often and it can be frustrating and time consuming to keep up with the ever changing insurance world. An outsourced medical billing team will pay attention to these laws and guidelines and maintain the most up to date information so that you don’t have to.
You’d like to place a greater focus on patient care.
The primary function of healthcare practices is to provide patients with the highest quality of care. Outsourcing medical billing services can allow providers to ensure patient satisfaction and spend less time focusing on the business aspect of their facility. Choosing outsourced services will take away the stressful demands of treating patients while handling complex billing issues.
Contact Applied Medical Systems for Outsource Support Today
If you’ve answered ‘yes’ to all of the questions above on whether it is a practical choice for your medical practice to outsource medical billing, we invite you to reach out for more information on the medical billing services at Applied Medical Systems. Contact us today.