More Reasons to Outsource Billing Functions
More Reasons to Outsource Billing Functions
Outsourcing your medical billing will remove so many of your headaches in your practice with your medical billing.
A sobering statistic about family physicians who do their own medical billing is that they can be suffering a loss of 10%-20% of their reimbursements each year simply due to incorrect coding. It’s important for your staff to understand the documentation guidelines especially for E/M (evaluation and management) services.
Your practice probably uses about 30 codes for about 95% of your patient visits per day. Make sure your staff is familiar with those codes that apply directly to your office’s procedures and the documentation those medical billing codes require. It can seem daunting and overwhelming to keep up with but if you don’t you will pay in a monetary fashion.
This is another good reason to outsource your medical billing. Not only will your reimbursement claims be handled faster than if you filed the medical billing claims from your office, they will also more likely be fully reimbursed instead of partial payments and they will always be correctly coded. That includes ordering new CPT coding books for your staff to keep up with every year, it is your medical billing partner’s job to keep up to date on the latest coding trends in the medical billing industry.
Another good rule of thumb for your medical billing, whether you outsource it or not, is to remember nobody can code correctly but the physician or other provider who’s interacting with the patient. Be sure to just take that moment and jot down your services. If you are allowing someone on your staff to code for you, whether it is for office visits or hospital visits, you are setting yourself up for lost income or trouble in an audit or both.
All of these scenarios can be alleviated through the smart choice to outsource your medical billing claims to a partner that will make sure your coding is done accurately and always with the highest reimbursements for your practice in mind.
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