Reasons to Outsource Your Medical Billing Functions
Reasons to Outsource Your Medical Billing Functions
If you’ve been feeling the stress and strain of too much paperwork and time spent preparing medical billing for your practice and not enough time is left to service your patients to help your practice grow, it might be time to consider outsourcing your medical billing claims.
There are some sobering facts about medical billing claims that might give you pause to consider it might be time to outsource your medical billing. When you consider that healthcare providers averaged spending $7 billion annually just submitting claims to carriers.
Another jaw dropping fact about your medical billing claims, is you might be missing being reimbursed for nearly 1/3 of your legitimate claims due to typo’s, errors and lack of medical documentation.
If you outsource your medical billing to a third party partner company, your medical billing claims will experience almost no rejections as less than 1% of electronic claims are rejected. Additionally, electronic claims take seconds to prepare as opposed to the genuine time consuming task it is to prepare a paper billing claim. Additionally, you can see a faster turn around on your claims, in a few days where as paper claims can take 90 to 120 days.
Additionally, almost no carriers accept paper claims any longer and upgrading to a safe and secure network to transmit the information can be a costly affair for your practice. Outsourcing your medical billing claims to a company that already has the checks and balances in place to submit secure electronic medical billing claims will be a boon to your office, cash flow and free your staff to service patients, not chase paper.
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