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June 29, 2015

Pros of Outsourcing Your Medical Billing

June 29, 2015

icd 10

Outsourcing your medical billing and coding can be a great choice for your practice. The fact that you can expect an immediate 5 to 15% increase in the amount you collect may be enough to make you choose outsourcing over in-house billing.

However, if you are still on the fence, Medical Business Management wants to share some of the other benefits of outsourcing your medical billing and coding.

Staffing Issues are Never a Problem

If your practice has a high staff turnover then it will negatively impact your medical billing process and cause your revenue to suffer. When you outsource your medical billing you solve that problem.

Furthermore, when you outsource you don’t have to keep a dedicated billing specialist on your staff, which saves you money. You don’t have to worry about paying for training, salary, or insurance costs.

In short, it is much less expensive to outsource your medical billing than it is to hire a billing department for your practice or hospital.

Outsourcing is Easy and Convenient

When you outsource your medical billing, the billing company takes care of all the medical coding, data entry, claim filing, payment posting, follow-up and statements. They generally charge you a fee that is a percentage of the collected amount. Your staff doesn’t have to worry about this process and can devote their time and energy to caring for your patients.

Have a claim get denied? Medical Business Management will take care of that too!

We will take care of appealing and resubmitting any claims that are wrongly denied. We will also handle collections and pursue accounts that are past due.

Finally, your practice will not have to purchase expensive software, pay for network installation, and then have to likely pay for training on its use.

Choose the easy and convenient solution: Outsource your medical billing and coding to Medical Business Management!

ICD-10 is Rolling Out in October

ICD-10 is the new medical coding system that will be rolling out in October of 2015. There are over 60,000 new diagnosis codes alone! Add in the thousands of new procedure and treatment codes and you may start to feel a bit overwhelmed.

Errors in coding could slow down your reimbursement process considerably, causing you to face penalties or make you miss payments entirely.

If your practice is not fully prepared for ICD-10, then talk with our expert coders. At Medical Business Management, our coders have been thoroughly trained on the new coding system and are ready to implement it for your practice, ensuring you are ready for the big change.

Is Outsourcing Right for Your Practice? Call Medical Business Management Today!

If you are looking for an easy and convenient medical billing process, contact Medical Business Management today!

Our highly trained staff of medical coders and billing specialists are ready to make your practice as efficient and successful as possible.

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