When it comes to medical billing services in today’s market, it’s really no longer a question of do you need one: You do. There are so many benefits to using a medical billing service we thought we’d take a moment to explore them. And if you already have a medical billing service, read on, because if you’re not enjoying all of these benefits, your service is not performing as well as it should be.
Investing in a medical billing service should benefit your facility in the following ways:
- A subject matter expert. In many facilities, the task of billing and claims is a full-time job expected to be completed in part-time-hours allotment, and it’s through this imbalance that mistakes can be made. Trusting medical billing responsibilities to a specialized service gives this task the full-time attention it deserves, reducing/eliminating your time constraints and the possibility that claims will be filed incorrectly.
- Improved efficiency. If you nodded in agreement when we said the task of billing and claims was a full-time job, then imagine how much more efficient your office would be if that full-time job was largely automated and the staff hours spent on this project were returned to your available pool. Perhaps even better, hiring a medical billing service means those rejected claims or collections that once caused you so many headaches are now the responsibility of your vendor. This allows you to plow forward on finishing new work without spending so many labor hours dealing with the past.
- Billing at the highest rate. In addition to reducing your workplace labor spend on billing and claims, your medical billing service should also help you earn additional money by billing each service at the highest billable level. Self-coding software within the system is specifically programmed to recognize revenue opportunities that may be missed when filing manually, meaning your service actually has the potential to pay for itself in no time.
- Easy to use. Optimizing your medical billing services shouldn’t require you to take on a specific training regimen just to understand the system. Instead, you should expect your system to be implemented in less than a day, and your staff should feel completely comfortable using the system with only minimal training. And if your team does have questions, expect your vendor to be available to answer those questions for you.
- No capital expense. Your medical billing service should be a web-based solution, nothing more. That allows you to enjoy its advantages with the peace of mind that you don’t need to worry about the space or finances to support capital expenses necessary to run the system.
- Innovative technology. If there is one sector where change happens even more quickly than healthcare, it’s technology. You’re constantly bombarded with information about the latest tool, process or platform available to help your facility, so wouldn’t it be nice if your billing could be taken out of the equation? Partnering with medical billing services puts the onus on the vendor to ensure the technology used in handling your claims is always cutting edge. This allows you to get the results you deserve without the capital cost or the headache. In addition, your vendor should also be able to offer you a technology solution that seamlessly integrates with your facility’s existing system so you can merge your Electronic Medical Records (EMR), Medical Practice Management (MPM), claims and billing functions into one suite.
- Get back to doing what you do best. You entered the medical field to help people, not to spend time agonizing over claims and billing — so don’t. Trust your medical billing services to a vendor with employees that are passionate about this challenge and return to what you love most: treating patients. You’ll be happier with your work and the results you receive on your claims.