Does your medical practice handle its own billing services? If so, your company may be spending too much time and money on this responsibility. Billing can take away productivity from workers, especially for those who have other duties. Additionally, compiling, printing, and mailing bills to clients is expensive if you’re doing it on your own. However, there is an easy solution to this problem: outsource medical billing to a company that specializes in these services.
What can you get from a company that handles outsourced billing? Plenty of features, and all of them will save time, money, and frustration. Plus, they can offer you additional billing capabilities that you never knew your medical practice needed before. Check out some common offerings by these companies, so you can determine whether to outsource medical billing:
1. Low costs: When compared with handling billing in-house, medical billing outsourcing companies can save medical practices money. Having your own billing department can be costly to run, and having to manage that department can take up time. By outsourcing medical billing, you can have hands-off management, and your billing will be handled by medical billing and coding professionals. You also won’t have to print or mail statements — an average cost of 11.5 cents per statement — nor will you have to pay a processing fee, either. Instead, you’ll just pay one bill to your outsourcing company.
2. Time-saving: As noted previously, running your own billing department takes away from your productivity. And if you don’t have your own billing department but instead rely on other employees to complete these tasks, then they lose productivity also. With outsourced medical billing, all you have to do is send the information to the billing company, and the tasks are taken care of for you.
3. Better billing: Customers often have trouble understanding in-house bills; outsourcing billing can create easier to understand statements. Also, if your billing system is outdated, then you can receive the upgrades you need when you outsource medical billing. Outsourcing companies can give you more options to improve your billing practices. Online billing services are popular today because they give clients the ability to receive electronic invoices instead of paper ones, and they can pay their bills on the internet. That’s good for you, good for patients, and good for the environment.
Have more questions about outsourcing medical billing? Be sure to talk to a medical billing outsourcing company as soon as possible to discuss your options. If you have general inquiries, leave us a comment.