Top Five Reason to Hire a Billing Company
SAVE MONEY – Hiring a billing company saves you money by not having to pay a salary and benefits to a full-time employee.
RETURN ON INVESTMENT (ROI) - A good business owner wants Return on investment (ROI). A medical practice is a business that needs to make money to survive, but one big difference in a typical business and a medical office is the payer. While most businesses bill the consumer for their products and services, a medical practice must deal with multiple insurance companies to get paid. A good billing company has all the expertise in dealing with payers to put more money in your pocket.
EXPERT ADVICE – Most billing companies have years of experience in training medical office staff with latest changes in the industry. They work with multiple practices and know the best practices and mistakes to avoid. They can guide you to operate efficiently and stay compliant.
INCREASE EFFICIENCY – When you outsource your billing, you free up your staff to perform more important tasks, such as, patient satisfaction, and improving workflow.
STAY IN BUSINESS – let’s be very honest. If you are not making money, you will not likely stay in business for too long. Hiring a good billing company ensures that you are collecting from insurance companies and patients for your services. It is very disheartening to write-off your hard-earned money at the end of the day. Billing companies have years of experience in working denials and getting claims paid.
BOTTOM LINE: Don’t wait until you see a problem. Have a qualified consultant review your billing process and provide you with the solutions to significantly reduce your A/R and increase your revenue.