Can Medical Billing Services Really Save Me Money?
Due to insurance industry inconsistencies and continuously changing regulations, medical billing has become increasingly complex. In order for medical facilities to achieve a properly functioning cash flow, these complexities must be navigated in a timely and efficient manner. Insufficiently trained staff, inefficient methods of billing, and regular updates to medical billing software can lead to errors and delays that can slow a medical provider’s revenue stream. Medical organizations cannot let billing complications hinder their payment cycle.
In-House Medical Billing is Costly
Maintaining a team of in-house medical billers can be incredibly expensive. Each medical biller will need to be paid a salary of around $35,000 as well as medical and dental insurance, 401k, social security and Medicare, and paid time off. In addition to paying each medical biller, operational costs such as software and hardware, office materials, and clearinghouse fees need to be considered. In the event that a medical biller is sick, decides to take a vacation, or suddenly quits, medical organizations will be placed in a situation where they are struggling to look for a resource replacement to avoid a delay in payments.
Outsourced Medical Billing is the Affordable Choice
Since most third party medical companies charge a flat fee for each claim or a percentage of the claim reimbursement, opting for outsourced medical billing services is the more cost-effective option. Regardless of whether the company charges a flat rate or takes a percentage of the claim reimbursement, it will be less expensive for medical practices to outsource rather than hire and train a full in-house team specifically for medical billing services.
By outsourcing medical billing services, a healthcare organization can eliminate its dependency on an in-house medical billing team. Third party medical billing services will also remove the stress that comes with the cash flow disruption that occurs when an in-house medical billing professional is not at work. A steady, continuous flow of processed claims is possible with outsourced medical billing services.
Let Applied Medical Systems Save You Money
Profit and patient care are the top priorities of any healthcare facility. When you trust Applied Medical Systems with medical billing services, you can enjoy the peace of mind that comes with knowing your claims will be paid promptly and efficiently.
Our medical billing services free up your time and energy so that you can spend more time caring for patients and less team hiring and managing an in-house medical billing team. To learn more about our medical billing services, contact Applied Medical Systems today.