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!
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!