Medical billing tasks are integral to the success of any healthcare organization – and healthy accounts are every bit as important as healthy patients. Though many providers choose to handle billing processes in-house, this is not always a feasible option, nor is it always the most profitable. Many Arizona physicians who do their own billing, in fact, find themselves breaking even or making a small profit in relation to the amount of work they put in to their practice.
Are you an Arizona physician wondering how third-party billers might help increase collections for your practice? Following are a few reasons why outsourcing to a third-party Arizona medical billing service can benefit your business.
Cost. Do you have several employees performing billing tasks that could be handled by one or two, more experienced billers? Outsourcing your medical billing process can save your practice money and can allow you to make more efficient use of your resources.
Experience. A big billing problem for many practices is how long it takes to receive payment, not only from patients, but from payers. Third-party billing companies train their billers on minimizing claims denials. Their processes are also much more streamlined and automated, ensuring bills get sent out earlier and payments come in more quickly.
Resources. Staff turnover is another major issue facing the medical industry. In fact, losing an experienced biller can cripple a practice’s revenue cycle, and bill collections can fall behind significantly in the time it takes to train a new employee. Third-party billing companies, however, have many knowledgeable billers on staff, meaning your practice’s collection efforts won’t suffer if one biller decides to leave the company.
Technology. Keeping your billing processes in-house requires investing in practice management software. This can be costly, especially if you are considering purchasing (or have recently purchased) electronic medical record software. By outsourcing your billing and collections, you won’t have to worry about buying new software or training staff on how to use it.
Priorities. Hiring outside billing experts will give you the tranquility to focus on practicing medicine. After all, doctors become doctors to focus on patient care, not on administrative tasks.
Interested in learning more? Contact us to learn about our medical billing services in Arizona, including our software experience and physician specialties.