Many health facilities view in-house billing as the solution to their billing problems. However, what many don’t realize is just how much they take on when they begin in-house billing. The cost and trouble of medical billing can be solved simply by outsourcing.
See why outsourcing medical billing could help your business:
1. Limited revenue cycle billing staff
For an in-house billing department to be successful it heavily depends on their staff. Within an in-house billing department, there is a person for collections, posting, and utilization review. Also if the company is conducting its own verification they will need another employee. With such a huge amount of profits dependent on this staff. If one person takes a sick day, vacation, or just unable to work this is a major slow in your billing cycle. With only a specific person designated to a task, the billing cycle can easily be disrupted cause delays in your profit.
2. In-house billing is costly
The cost of outsourcing medical billing instead of producing an in-house staff is less expensive. While outsourcing you will no longer incur the cost of advertising, interviewing potential employees, and training them. Not to mentions, the overhead cost of running a medical billing department such as salary, payroll taxes, and other operational costs.
Also, there is the cost of setting up a billing system. In-house medical billing costs include the software and tech support needed to process and send claims, licensing costs associated with your computers, electronic medical records systems and the costs of licensing for the medical records system, telephone systems, and manuals for billing such as: DSM-V, ASAM, APA, CPT, HCPS, and the ICD-10.
Although some may look at this as a “small” price to pay, consider that when outsourcing these are no longer things that are a cost to you. Not to mention the stress or burden of managing staff.
Urgent Medical Billing
Urgent Medical Billing is an experienced, professional medical billing company. In addition to our trained and professional billing staff, we employ registered nurses and licensed clinicians. They help to provide premier clinical assessments and utilization review services within our UR department. Urgent Medical Billing is a transparent revenue generating company, encouraging our customers to view the claim process in real time through our claims portal. Our software, programs and equipment are technologically advanced, offering the most up-to-date services to Urgent Medical Billing customers.