When it comes to the management of the medical billing and coding at the average Ear Nose and Throat practice, many physicians often wonder whether or not outsourcing medical billing services to a professional billing company might not be better than doing it all in-house. The old adage of, “if it ain’t broke, don’t fix it,” can only apply if your practice is already extremely successful at billing and collecting from patients, leaving no room for improvement. However, with so many changes being made in the healthcare industry, improvements can always be made.
Start With a Professional Consultation
The best way to figure out whether your practice would benefit from outsourcing medical billing services is to hire a professional company, such as MD Pro Solutions, to review your current practices and look at your account management records to ensure that you are working to your full potential. Our experts are trained in the specialized area of Otolaryngology management, billing and coding and can provide a complete assessment of your current system to evaluate its effectiveness.
While we do offer medical billing services to many of our clients, you are not required to switch from your current provider. Our team can help you by working with your existing billing team and manager to make sure that you are getting the most out of your medical billing software or service. From billing and collecting from patients to keeping up with changes to billing codes and laws regarding account management, we can help you implement positive changes that will help your ENT practice survive the changing economic times in the healthcare industry.
In-House Account Management vs. Outsourcing Medical Billing Services
There are definite benefits and drawbacks associated with both methods for managing your patient accounts and billing practices. While it can cost more in some situations to start outsourcing medical billing services after doing them in-house for many years or after relying on medical billing software, it can ultimately pay for itself in increased revenues and other types of savings. It can also be expensive to stay up with the latest software, technology and coding updates when you do your own medical billing services in-house.
Each individual client must weigh the pros and cons after reviewing the current state of their medical billing situation to decide which is best. Either way, MD Pro Solutions can help you make improvements that will increase your revenues and give you peace of mind that you are doing all you can to ensure that you are providing your patients with professional billing and coding.
4 Reasons Why Many Practices Outsource Medical Billing Services
If you still aren’t sure whether your Otolaryngology management, billing and coding would benefit from outsourcing your medical billing services, it can help to see some of the reasons why other Ear Nose and Throat practices have made the switch. MD Pro Solutions can help you with a comprehensive assessment of your current medical billing program and can help you make improvements that will make a difference.
If you have noticed a marked drop in your collections over time or find out through a professional audit of your medical billing and coding system that collections are down, you might have some key issues happening in your billing department. MD Pro Solutions can help through education and training of your in-house staff and can also help you fine-tune your current billing software to make it more effective. However, if you are ready to try something new, outsourcing your billing to a third-party service just might be the answer. It is the quickest way to decrease the number of rejected claims and reduce the amount of time it typically takes to collect payment from insurnace providers and patients.
Lack of Technical Skill
This is particularly true of new practices and long-running practices, where staff may not be as educated and trained in billing and coding services as they should be. MD Pro Solutions can provide your billing team and manager with the training they need to stay up on all of the coding changes and processes necessary to boost revenues and reduce coding errors and other issues. Investing in the technical knowledge of your staff and the billing software you use can be extremely valuable. However, if you don’t want to deal with training and educating your billing team or upgrading your software program, outsourcing medical billing services might be the best solution for your practice.
While training and educating your billing team to better serve your Otolaryngology management, billing and coding is important, if you are experiencing a period of high staff turnover, you might want to skip the training and focus on providing reliable billing services instead. Claim processing is one of the most important jobs at a medical practice and staff turnover changes can slow down the processing and submission of important claims. Outsourcing medical billing practices can save you lots of money wasted on training temporary or short-term staff, while increasing revenues through accurate and professional billing and coding services.
Some practices are just so busy that they don’t have time for billing and collecting from patients. Some doctors would rather not focus on the business side of running their Otolaryngology management, billing and coding and would prefer to outsource medical billing services instead. If your goal is to focus on patients and not worry about the administrative end of the business, outsourcing is probably the best choice for you. Outsourcing medical billing services eliminates the hassles associated with training and educating a billing team to take care of these tasks in-house.
Improve Your Otolaryngology Practice Today
Contact MD Pro Solutions to get a full evaluation of your current management, billing and coding to find out whether training and educating your billing team can get you on track or if you should consider outsourcing medical billing services. Our team can help your staff to work more effectively with your current software or billing solution so in most cases, a change is not required.
Through education, evaluation and professional support, we can help you to improve your Otolaryngology practice, increase revenues and improve your team’s billing and coding abilities. Call MD Pro Solutions today at 508-946-1665 or use our online contact form to request more information about our services.