Outsourcing Revenue Cycle Management
Today we will focus on medical billing and the benefits of outsourcing medical billing, contracting/credentialing and your Revenue Cycle Management
Why outsource???
The success of your company depends on a solid foundation. In the world of insurance, that foundation is built on group contracts with commercial and government payors and staff credentialing to ensure clients receive maximum benefits from their insurance plan and you receive maximum reimbursement for those services. Outsourcing this task to professionals will ensure you have that solid foundation!
Faster billing with less errors, claims are sent in a timely manner which results in faster payment
Since the headaches are handled by the outsource company this allows more time to focus on patient care, providing direction for your company and marketing
Practice management companies keep up to date with the ever-changing world of insurance and regulatory changes allowing for more productive and proficient billing which results again in higher revenue
Costs for the practice are kept to a minimum due to high production of the billing staff
Less overhead for the practice – no expense for employee benefits, no sick time, no vacation time, etc.
Constant review of your accounts to ensure information is obtained from your clients to avoid issues with timely filing and appeals (if needed)
Daily feed-back to your client care coordinators to ensure they are clear on patient responsibility so it can be collected at the time of service which results in lower Accounts Receivable balances
Reports that provide the details you need in a specified format so you stay abreast of all outstanding charges and the reason they are outstanding
It's a win/win situation - we don't get paid until you do so we work hard to get your money efficiently and professionally