Outsourcing Medical Billing Services: Why It Makes Sense

outsourcingThe impending ICD conversion has made billing and collecting from patients and all of the changes to otolaryngology management billing and coding a veritable nightmare for many practices and clinics nationwide. Outsourcing medical billing services to work with a professional and trusted program that can take care of all the details for you with regard to all of the new requirements and coding changes is a solution that many are choosing to take. Is outsourcing right for you and your clinic?

When it comes to medical billing, specialized skills are definitely required. You simply can’t take a bookkeeper from an office and drop them into a medical clinic and expect them to know what to do. Even for those who are experienced in medical billing and collecting from patients, increases in government red tape and complexity with coding have definitely changed the game. So whether you are opening a brand new ENT clinic or if your practice has been in operation for many years, you might be debating whether or not now is the time to outsource your billing services to avoid the anticipated issues surrounding the latest ICD conversion.

What Has Changed?

In addition to the ICD conversion, which is a whole issue in and of itself, there are many other changes that have hit the medical billing profession. Proper management of medical coding and billing and collecting from patients has become very important to the success of most practices. Reductions made to carrier allowances, as well as increased regulations, have all caused profit margins to shrink in the private sector, greatly affecting many medical offices. Efficient and accurate otolaryngology management billing and coding is now required in order to survive in the coming months and years.

Lowering Overhead

Believe it or not, outsourcing medical billing services can save you money. If you think about the cost that is required to hire certified staff to take care of billing and collecting from patients, including salaries, insurance and other benefits, as well as computers, the required software, updates and of course maintenance of the technology, it all adds up fast. When you hire a professional company to take care of your otolaryngology management billing and coding, they take care of all the hiring, equipment purchasing, updates, repairs and maintenance. You no longer have to worry about all those details, just paying your monthly fee. Because medical billing and management companies provide services to multiple clients, they are able to operate at a lower cost than an individual medical practice and pass on the savings to you.

Trained and Certified Experts

When you hire a company to take care of your billing and collecting from patients, as well as changes to medical billing like ICD conversion and changes in regulations, you are hiring a team of trained, experienced and certified experts to handle all of your otolaryngology management billing and coding. You can rest assured in knowing that each and every person that you work with at MD Pro Solutions has the skills necessary to increase results and improve the methods employed at your practice. In fact, most of the ENT physicians and office managers who use our services have been able to boost revenue by at least 10 percent within just the first year of working with our team.

Keeping Up With Code Changes

In addition to the ICD conversion, it is important to know that fees are constantly changing, new and deleted CPT codes are released yearly and the rules from carriers feel as if they change on a daily basis. Staying on top of all these changes can be a full time job. Even for staff that is hired specifically for billing and collecting from patients, there often isn’t time available to stay on top of these new rules and requirements. The healthcare industry is in a period of rapid change and evolution at this moment, so it pays to stay on top of the changes as they occur so you won’t be caught behind.

The Dreaded ICD Conversion

Talk with any office manager or ENT physician about the issues relating to otolaryngology management billing and coding and the conversation about the latest ICD conversion is likely to come up at least once. Outsourcing medical billing services and working with a professional consultant services like MD Pro Solutions can help you to get on track with the ICD conversion and avoid any issues that could arise with being out of compliance. The latest date has now been kicked to October 2015, giving practices the opportunity to get on board or get left behind. This is the biggest change to the medical billing industry in many years with codes rising from 13,000 to 68,000 and other changes that will affect billing and collecting from patients to boot. Outsourcing medical billing services won’t make the ICD conversion go away, but it will help you sort through all the red tape a prepare for the impending deadline.

Contact MD Pro Solutions

If you are interested in learning more about outsourcing medical billing services and how our consultant services can help you deal with the ICD conversion, give us a call at 508-946-1665 at our offices in Lakeville, Massachusetts. Our team will answer any and all questions you have about our services as they relate to otolaryngology management billing and coding, billing and collecting from patients, ICD conversion and much more. Call us today to find out how we can help you take control of your ENT practice, reduce costs and increase revenue!