As more and more healthcare providers i.e. hospitals, physician practices, and clinics are seeking to outsource their medical billing services. Medical billing professionals are hard to find, and seeking one with specialized services is even harder. The reason is that most skilled medical professionals now operate their own firms. They prefer working on projects instead with companies. This has led many hospitals to seek their services by outsourcing the medical billing process. But many other substantial facts are behind the outsourcing rise as well, and here they are.
1. More control
Hospital management prefers more control over finances, which wasn’t possible when they have involved in the whole process themselves. Now, as the department is outsourced, they can get a stadium-view over the things; checking growth graphs and observing things that were not clearly evident before. The control can help hospitals devise better strategies for future.
2. Access to specialized resources
Most times hospitals have to prepare claims for specials cases, but due to the lack of resources, this isn’t possible. On the other hand, the medical billing services have skilled professionals perfect for specialized work.
3. Error-free claim process
When medical billers are overburdened, they make mistakes and the claims become full of errors. Unless someone at the department goes through them, which isn’t possible in a hospital setting, the claims are sent to the insurance companies just as that, ready to be returned. This, of course, isn’t the case with medical billing services, which have staff available at all times and they adhere to strict procedures to audit the claims before submission. After all, a rejected claim costs $30.
4. Decrease in claim rejections
As mentioned above, with minor errors in claims, the rejection rate drops because of outsourced billing. The second reason for claim denial is because most medical billing services have good contacts in the insurance companies. They ask them for a speedy claim process on behalf of their clients.