Many years ago, it was a common idea that all billing for your practice should be kept in-house. But, just like medicine, medical office management is an evolving field. The following are some of the many reasons outsourcing billing might be the right choice for you.

Stay Up-to-Date On Industry Billing Changes

CMS and other regulatory bodies frequently make changes to billing codes, rules and protocols. Typically, an office won’t know these changes have occurred until they are already negatively affecting your claims. A billing service anticipates these changes and implements adjustments before they result in denied reimbursement payments.

Free up office resources

If your billing service is outsourced, you don’t need to worry about telephone lines, office space, personnel and more which are essential to operate your billing process and maintenance. 

Pay Only For What You Need

Having a full-time biller in your office can be a costly staffing expense, and is typically a position with a high turnover rate. While some offices are large enough to benefit from a full billing department, often the volume of work in a smaller practice does not justify the office space and salary of having a full-time biller on staff. 

By outsourcing your billing, you have access to a team of skilled professionals with a vast range of service specialties, you eliminate any funds lost during in-office training periods or “learning curves,” reduce the number of incoming billing phone calls to your practice, and only pay for the billing services you need.

Your Practice in a Snapshot

Are you maximizing your reimbursements? Are your billed charges in line with your competitors, or might you be leaving money on the table? A professional billing service will regularly be able to provide you a full accounting of your receivables, report what is working in your practice, and where there is room for coding and billing improvement. They will also have access to an overview of analytics for other local practices in your specialty, to determine if there are other ways to improve your revenue.

Access to Payer Network Contacts

A billing service typically has frequent contact with many different payer networks, allowing the billing service representative and the payer representative to build personal relationships. Having those established relationships expedites problem resolution and improves communication.

Payer Audit Preparation

While an audit seems like a daunting and terrifying process, a billing service is experienced with the process and terminology. By utilizing the services of an outsourced billing company, you have immediate access to an expert advocate in the event of a payer audit.