Do Not Overlook Medical billing Outsourcing

Outsourcing in the Medical Billing industry is quickly becoming recognized as a necessity, and not just because of the pricing or results!
Here’s a quick question: “Regardless of title, department, or duties, what is the core purpose of nearly every employee of a business?”

Answers will generally vary, and it’s not uncommon to see those answers “lean” one way or the other, depending on the work performed by the person providing the response.
My answer is simple (and remember I said “core purpose”): “To make the company Money, and help Grow the business.”

How does this apply to Outsourcing?

Aside from all of the widely known benefits of outsourcing (Outsourcing has been around since the time of basic barter/trading), it allows a company the ability to avoid       paying for expensive internal duplication of efforts.
Example: The practice staff has already performed all the necessary functions to identify, enter, and complete the patient encounter with the provider. This information is entered into their Practice Management – Billing – EHR software, and transmitted.

In a perfect world payment for service(s) rendered would be received and that would be the end of the work.But this is not a perfect world. Human error comes into play, constantly changing requirements and codes enter into the process, any number of issues causes the claim to be rejected/denied.

Now your staff has to reallocate time to correct and resubmit this instrument of debt owed. This is time they would normally have placed into other daily operations that are required to be successful. The available time for completing all needed tasks that day has been compromised, and with the increased pressure of repeating yesterday’s activities, on top of today’s demands, you have an increased chance of more issues. This is how AR builds, this is how it grows, and sooner or later there will not be enough time to handle all the work, claims will be lost, revenue will be written-off, and an “acceptable norm” is established.
Yes, you can hire a team of in-house experts to do this, and avoid paying staff for services twice, losing money, etc. What is the cost of this staff? What is the cost of the equipment, software, training, licensing? It’s more than a simple hourly wage! The AMA estimates that physicians spend up to 14% of their income dealing with Health Insurer requirements!

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Outsourcing your AR is not an admission of inability, but an indication of entrepreneurial decision making. Medical Billing experts have only one objective, get you paid! Most will do this for less than half of the estimated cost mentioned above.
Outsourced resources do not deal with patients staring at them while they are speaking with insurance companies, they do not get pulled from their monitor to get something for the doctor, or look up records needed for that days visit. Outsourcing means your staff is handling new events in real-time.

Outsourcing billing companies already have the required equipment, updated knowledge, software…everything they need to handle the tasks given to them. Outsourcing saves money, and holds to the primary core purpose, allowing your staff to Make Your Business Money!
ACP billing Services has taken this a step further by developing a simple flat rate program providing the support that a practice with In-House billing needs to be successful. Maximize the use of your trained staff to address all the charge entry and patient service’s needs, Everyday!
ACP billing Services is prepared to tackle existing AR, focus on claims coming close to forfeiture due to time-lapse, and bring this process into a timely payment model. Our flat rate model means that our fee does not go up (as is customary with traditional % based programs), simply because we executed our duties successfully. We work with your software, and you maintain control and oversight!

The program can be scaled down as historical claims are completed and the work-load thins, until you have only the resources needed to maintain timely turn-around.

ACP billing takes a strategic approach to AR to ensure no claim is left behind, so….. Do Not Overlook Outsourcing!

How to Select an Outsourcing Medical Company?

In-House vs. Outsourcing – Thousands and thousands of private practices, group owned clinics, hospitals, health-systems, and software vendors have weighed the: pro’s vs con’s, risk vs reward, price vs profit, and ended up deadlocked with more questions than answers. If you don’t know why you’re considering outsourcing some or all of your billing needs, then you need to get clarity here, first.

Here are the most widely considered reasons:

· Increase in collections · Reduction in costs
· Access to seasoned professionals · Providing complete patient focus in the practice.

Here are the reasons you may not be considering, but should:

· Reduced stress on staff · Increased efficiency
· Easy trend analysis · Faster turn-around times on claims

Outsourcing your billing activities is nothing more than a business decision, and one that you have probably made more often than you know. An example of this would be hiring a CPA. You could hire an internal accountant who handles all financial matters, payroll, and balances the books everyday, but you most likely have software and services retained already that handle this (outsourcing).

Instead you hire a CPA who handles taxes and other very specific duties, and you pay this person for the specific work performed (again…outsourcing). In short, outsourcing is a common business practice.

So regardless of the motivations behind the decision, you still have to select the right company to perform this service, and there’s only about 5,000-6,000 medical billing companies in the US alone.

The question becomes, how do I choose the right one for me?

You can ask other professionals within your circle for references. You can start scanning the internet, read forums, and potentially overwhelm yourself within mere moments. Regardless of your method to find a services, you MUST vet them.

This is an interview process, and you need to make sure that your getting your needs met, and not basing your decision solely by the recommendation of someone else (and their particular needs), a well crafted marketing message, or websites.

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Three Questions must ask an every Outsourcing a Medical Billing Projects:

  • Do the services you are speaking with provide only Full Revenue Cycle Management (RCM) and demand complete control of the process?
  • Are their fees for service in-line with the market?
  • Do they utilize additional resources to better ensure maximum results?

A strong medical billing service will be able to provide you with individual services as needed, all the way to full RCM. Your candidate(s) should be able to answer questions relating to different software strengths and clearinghouse advantages. Professional billing companies should be able to provide you with a clear definition of their SOP’s, with a structured approach to incorporating your practice’s specific operational nuances. You should feel confident that they can act as a remote extension of your own staff.

Some billing services promote themselves as a one-stop shop, and while this may seem fantastic, remember that a person (or company) is often blind to their own deficiencies or weaknesses. When a billing service tells you they utilize other professionals for credentialing, or consulting, what they are saying is that they maintain their focus on Billing. The professional relationships they utilize for various services can also be viewed as a testament to an ongoing commitment to excellence. Think about it for a moment. These relationships are generally mutually beneficial and all the parties involved will recommend one another to their own clients. This means that each party needs to maintain a higher level of performance as they are representing not only themselves, but a reflection on the reputation of the referring party. Medical billing companies that utilize other professionals come with a somewhat built-in quality standard.

Another good way of evaluating a company is by doing a limited test-run.  Do they have an ability to provide service at a smaller scale, where the actual production results can act as your testing strip? Are they willing to provide a fixed rate for services performed? Do they lock you in a contract or are they willing to retain your business on a month to month basis?

Last but not least, ask how they handle errors! Anyone can tout how accurate they are, how fast they get the job done, and a myriad of other benefits to using their service, but do they recognize that they will make mistakes. What is their standard procedure for handling these issues, and how do they communicate with you as a client around this.

Every year there are more and more healthcare providers turning to outsourcing to ensure they are getting paid appropriately and expeditiously. The change from fee-for-service to outcome based reimbursements is driving the entire healthcare industry to focus more on the patients, their needs, and overall results. This means that your staff needs to be free to do the same.

ACP Billing Services LLC offers all of the services/relationships mentioned above so that you can focus on your business, your patients, and your future. We have an established client base, allowing us to provide a lower cost of service and multiple pricing models to meet each individual client need, without sacrificing the quality you expect and deserve.