The world of otolaryngology management billing and coding can be challenging, especially for a small ENT practice. This is just one of the many reasons why practices of all sizes choose to outsource their medical billing services. There are a lot of advantages associated with outsourcing medical billing services. The big picture is that it will help small, mid-sized and even large ENT practices and clinics to save time and money. It can help you to put your focus where it belongs – on the patient – without having to spend too much time worrying about administrative duties.
The rest of this article will focus on the five main reasons why otolaryngology specialists are choosing to outsource these services and how it can help with clinical coding optimization, reimbursements, patient collections and more. Once you consider all of the advantages associated with outsourcing medical billing and coding, it becomes very clear whether you should decide to continue billing in-house or if you should hire out these services to a team of trained, certified professionals.
Reason #1 – More Time With Patients
One of the biggest challenges that busy practices face is having enough time in each day to spend with patients. Turning over your otolaryngology management billing and coding to an outsourced service will give you more time to focus on your patients so you can provide them with the best quality care possible. Small clinics and busy practices will benefit from having more time to work one-on-one with patients by hiring out a team of professionals to handle your clinical coding optimization and medical billing services.
Reason #2 – Reduced Overhead Costs
Another way that outsourcing medical billing services is beneficial is through reduced costs for medical billing staff. When you hire in-house employees to handle your medical billing and coding, you don’t just pay a basic salary or hourly wage, but a host of other benefits, insurance, vacation time and sick leave. You also save money that would have to be invested in office supplies, office furniture, computer equipment and other required tools to support your medical billing and coding department. When you add up employee costs, equipment costs and other administrative fees, it is much more cost-effective to outsource your otolaryngology management billing and coding than it is to do it in-house.
Reason #3 – Boost Income
When you hire a professional medical billing company to take care of your clinical coding optimization, you get a continuous flow of income without any interruptions due to sick days, vacations and holidays. Outsourcing medical billing services means having a team of highly trained, certified and experienced professionals taking care of all your otolaryngology management billing and coding without fail. You can also rest assured that everything will be done correctly, according to medical billing standards and requirements, including the upcoming ICD-10 changes. What that means is ensured medical billing compliance and no concerns about keeping up with changes in Medicaid, Medicare or other third party payers.
Reason #4 – ICD-10 Changes
Speaking of the pending ICD-10 changes for 2015, when you outsource your otolaryngology management billing and coding, you no longer have to worry about getting your billing department personnel trained and prepared. Outsourcing medical billing services means working with a team of professionals that are already prepared and ready to adapt their practices to the ICD-10 changes when they go into effect in October 2015. All of your clinical coding optimization will be done according to the new standards without fail.
Reason #5 – Reduced Errors
Medical billing areas can cost an ENT practice a lot of money. When you hire a professional company to take care of all these details, you get a guarantee that your claims will be submitted accurately and in a timely manner for faster reimbursement. The primary purpose of outsourcing medical billing services is to have your medical billing services taken care of by a trustworthy and reliable service. It is the responsibility of the otolaryngology management billing and coding service provider to make sure that every member of their team is properly trained and knowledgeable about the medical industry to properly submit medical claims. This will reduce the number of claims that get rejected or denied due to billing errors.
To find out more about outsourcing medical billing services or hiring a consultant to help you improve your in-house otolaryngology management billing and coding, contact MD Pro Solutions. We have a wide variety of clinical coding optimization consulting services, training, certification and support programs available for you to choose from to help improve the bottom line and administrative management of your ENT practice or clinic. Give us a call at 508-946-1665 to get a free estimate on our services or to schedule an appointment for an evaluation.