Health Care Providers face the dilemma of outsourcing medical billing rather than keep it in house. The trend points out to outsourcing being a better option.
Following is a comparison between outsource medical billing or do it in house:
Doing Medical Billing in house:
- The office staff may not be able to devote all the necessary time to meet the demands that the medical billing processes require. The revnue cycle management process involves a number of steps that go beyond the submission of claims. The office staff may not be able to keep up with the insurance verification, medical coding, charge entry, claim submission, payment posting, A/R follow up, denial management and reporting on a consistent basis.
- Medical billing and medical coding norms are consistently being changed. The office staff may not be able to stay on top of all the changes resulting in loss of revenue for the practice.
- Office staff turnover can be a factor where the medical billing process can be interrupted or halted requiring hiring and training new staff.
- Health Care providers need to continuosly invest new capital on new technology in order to keep up with all the changes that take place in the health care information technology field.
- Outsource Medical Billing to a company with superior expertise and resources will help health care providers improve their reimbursement rates while they focus on providing care.
- Health care providers will have more control of their operating costs. Medical Billing companies can provide savings to their clients because of the volume of claims that they process.
- Health care providers will experience faster reimbursement of claims as claims get submitted on a daily basis. Moreover, claims are followed concistently from the moment that they are submitted until the moment they get paid.
- Health care providers can improve the quality of care that they provide to their patients. The office staff can focus on providing better care and increasing the patient base of the practice.