From time to time you need to evaluate what processes and procedures are working within the office – and where you can make improvements.
Besides cost, there are many things to consider that might prompt a medical provider to consider outsourcing their practice’s billing and collections. Here are just a few:
- Your in-office billing & payments process is inefficient. If you’ve been watching your collections drop while the span of time to collect actually increases, you may have problems in your billing department. Outsourcing to a third-party billing and payment service can reduce the amount of time it takes to receive payment from a patient.
- You are not technologically savvy. Keeping the process in-house requires an investment in practice management software. Then, if you add in training for your staff the costs rapidly increase. Outsourcing is a good idea if you don’t want to deal with regular software upgrades and random technical issues.
- You experience high staff turnover. While turnover can be a huge issue in any industry, it can be especially detrimental in a medical practice’s billing department.
Remember, a medical practice billing solution is not necessarily the silver bullet for all in-house billing issues. These types of services can vary significantly in their accuracy.