A common complaint from physicians is that they underestimated the amount of time they would have to devote to the business end of their practices! It's hard to keep track of billing in a busy office where the staff is already stretched thinly. If you are a doctor drowning in billing concerns, red tape, and paper work, here are some reasons you might want to consider outsourcing.
-- Outsourcing improves cash flow: The bottom line of any business, including a medical practice, is being able to have the cash flow necessary to pay employees, pay the bills, and stay open.
If the money isn't coming in, there will be problems; delinquent medical payments are notoriously difficult to keep track of, let alone collect, and a lot of doctors' offices are operating in the red because of the missing revenue. Most practices do not have the staff necessary to be able to concentrate on collecting delinquent payments properly. A medical billing company does nothing else but devote all the time necessary to collect due monies.
A good billing company will have most of your office's billing functions automated in order to expedite the process. Not only will more monies be received, they will be received faster.
Unless a practice's office manager or accountant has years of experience, she probably does not know the "fine art" of cutting through insurance company submissions red tape. A medical billing service does all of the follow up with insurance companies so that office workers are free to concentrate on other tasks that need to be done.
-- Outsourcing reduces costs: In order to effectively collect all payments, a practice would need to hire at least one billing accountant for the office on a full-time basis, which means an extra salary and benefits package. When an outside medical billing company is doing the work for a small percentage of the receipts, the practice is saving a substantial amount of money on an annual basis.
-- Outsourcing reduces the chances of human error and fraud: The hard truth is that not all employees in a medical office will be honest. Not having as many fingers in the financial pot greatly reduces the chances of employee fraud when it comes to billing. Having experienced professionals on the job and an automated system in place also means that there will be less likelihood of problems or expensive mistakes due to simple human error.
Doctors and their staff should be able to concentrate on what they do best: practicing medicine and caring for patients. Outsourcing every possible business-related area of an office in a cost-effective way allows caregivers to spend their days wrapped up in their professions, not in red tape.
If you are a Georgia physician seeking the very best in reliable Atlanta Medical Billing services, contact the professionals at Galen Advisors (http://www.galenadvisors.com). Art Gib is a freelance writer.
Orignal From: Some Advantages Of Outsourcing Medical Billing
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