Benefits of Outsourced Medical Billing: Save Time for Your Practice

Most industries grew more competitive and the same is true for the medical professionals, providers, organizations and institutions that comprise the healthcare industry. Similar to any other industry, health professionals such as physicians and surgeons are responsible not only for the health and well-being of their patients, but also for every aspect of their practice. This includes maintaining and keeping their offices, taking care of payroll for their staff and handling all matters pertaining to medical billing. Such responsibilities can eat up all the valuable time that doctors should have spent on critical patient care.

This is probably one of the main benefits of outsourced medical billing services: to allow physicians to allocate more time away from administrative purposes and focus on providing healthcare. This is true not only for individual physician practices but also for a medical organization like hospitals and clinics as well. Insurance rules and HIPAA regulations are constantly changing and medical staff can only do so much to keep up and handle healthcare reimbursement and processing. Such a scenario can be quite complex and would be very difficult to maintain in-house. The medical institution can gain much from the benefits of outsourced billing services instead of doing these tasks on their own.

Benefits of Outsourced Medical Billing

The following are some of the benefits of outsourced billing services that medical professionals and organizations can take advantage of and gain the very precious time that they can allot for providing healthcare.

• Outsourced medical billing services can take care of all matters pertaining to insurance claims management and processing as well as dealing with insurance companies and other government agencies. This includes processing paperwork that will be submitted to the insurance company for processing.
• Service providers can take care of performing medical checks in insurance forms and verify content for errors. This would greatly minimize rejection by the insurance companies that would not only be costly for the medical professionals or institution but would also prolong the lead time before reimbursements are received.
• One of the main benefits of outsourced billing services is the use of online or electronic billing, coding and submission systems that would speed up the claims process and receive reimbursements in days instead of the traditional weeks or months. Electronic systems prevent the need to enter data and other information monthly.
• Outsourced medical billing services make use of customized systems that would be appropriate for the needs of the medical professional. A dermatologist have different needs, systems and patients than a brain surgeon, and these billing service companies can streamline their system to cater to the operational needs of the medical professional.
• One of the more practical benefits of outsourced billing services is to reduce the time allocated by medical professionals in keeping abreast with all the ever-changing laws, rules and other regulations pertaining to insurance, medical and other billing records. These service companies are updated with these regulations and have special relationships with medical insurers which can help speed up the processing of medical claim reimbursements even more than before.

These and other benefits of outsourced billing services can provide physicians, surgeons and other medical professionals and staff all the time they need to focus on providing proper healthcare for their patients, instead of spending all their valuable time on administrative tasks like billing and filing claims.

If you’re interested in outsourcing your practice’s medical billing, ProMD Medical Billing & Collections can help. As one of the nation’s largest medical billing companies we know that every dollar and claim counts. We understand the complexities of revenue cycle management and how accurate billing processes lead to more satisfied patients — all important factors in maintaining practice profitability. Call us today for a free consultation.

Back ↵