Taking care of the patients you see within your practice on a daily basis requires a full-time commitment. After you've met their needs, there is little time left over to focus on unpaid patient bills. While medical billing services have been around for many years, there are a number of myths that actually prevent practices from experiencing the many benefits offered.
Some medical practices consider it to be more cost-effective to rely on the office staff within their practice to handle all their billing needs. While this would seem correct on the surface, when you consider all that the office team is really responsible for, they don't have nearly enough time to perform this task efficiently.
Although medical billing is a fee-based service, fewer billing errors and faster payments on your accounts ultimately means increased cash flow within the practice. When you consider this, it's clear that this is not a wasted expense.
Giving Up Control
There is a fairly widespread belief that when you enlist the services of a billing outsourcing company, you are somehow relinquishing all your control to them when it comes to how your finances are controlled. This is simply not the case. Although these companies have a number of techniques and practices they use to recoup payments, they won't do anything without your consent.
Additionally, you will be provided with a thorough analysis report that allows you to see just how all your accounts are being processed. The reality is that you aren't doing the work, but you're still in total control.
Extends Payment Processing Times
Another myth has to do with the fact that some believe medical billing outsourcing is only an added step that increases the length of time it takes for payments to be processed, leading to a longer period before the cash is deposited into the practice's account.
One of the greatest benefits of these services is error control. Billing outsourcing services hire trained professionals and use specialized software that allows for a multi-level approach of error detection. This attention to detail can actually shorten the length of time it takes for payment because you don't have to worry about denials based on incorrect coding.
Make sure you are overlooking these and many other myths concerning medical billing outsourcing services. Professionals like Billing Simplified can work hard with you to get the capital you need in your hands to expand your practice and enhance your patient care, which are both important goals.Share