The policies, procedures and requirements associated with ENT billing and coding have changed drastically in the past decade or so. The amount of paperwork and coding required to accurately submit claims has increased and, in the next month or so, the sheer volume of codes required just to process a claim will increase exponentially with the onset of ICD-10. It is no wonder we are seeing more and more practices outsourcing medical billing services than ever before. If you are launching a new practice, or if your billing team is feeling overwhelmed by all of the recent changes, it is in your best interest to hire a consultant to perform a healthcare audit to determine whether outsourcing billing ENT services will help to improve the way that you do business.
“Time Consuming and Overwhelming”
This is how many who work in the medical billing field feel about all of the changes that have come about due to the Affordable Care Act and the recent changes in ICD-10 coding. Changes in the billing software and methods used for submitting claims are par for the course, but some of the changes that medical billing departments have had to make lately have been much more intense than they were in recent years.
Practices, clinics and hospitals are now all under much more scrutiny than ever before in part due to the volume of under-insured and uninsured patients who have flooded the system. The changes that were to take place under ACA were supposed to have combated many of these issues, however for many practices, they have only compounded the problem. Services like MD Pro Solutions that specialize in Otolaryngology have helped ENT doctors and billing departments get the help they need to stay in business through all of these adjustments.
Outsourcing to the Rescue!
While it might seem that your practice cannot afford to outsource its medical billing services, the truth is that with all of the changes taking place and the amount of time it will take for your team to stay on top of them, it’s more likely that you can’t NOT afford to consider outsourcing billing ENT services to a professional organization. Some practices are outsourcing on a temporary basis while their billing department has a chance to get all of the training, support and experience they need to take it back over and do it on their own again. Others feel that the healthcare industry will only continue to make great changes in the coming years and have happily turned over their ENT billing and coding to professionals.
While there are many good reasons to consider outsourcing medical billing services, this list will feature just the top seven reasons why ENT practices should consider doing it, even if just on a temporary basis.
- Reduce Billing Errors – When you outsource your billing and coding services to a professional organization, you reduce the amount of billing errors and mistakes that are made in your office. Recent studies reveal that approximately $125 billion is lost to medical practices, clinics and hospitals nationwide due to poor medical billing, causing physicians to lose income that could be put back into their practices.
- Stay on Top of Changes – Outsourcing medical billing services to a third party that is experienced in Otolaryngology coding and claims can help you to stay on top of all the latest billing rules and regulations, without fear of rejected claims or penalties due to costly errors. The rules in the healthcare industry are constantly changing and it is difficult for billing staff to stay on top of all the information required to keep cash flow and profits healthy.
- Save Money on Education – By shifting your ENT billing and coding to a reputable outsourcing service, you will save money on education, training and support that you would normally provide to your billing department. This will also save you on healthcare audits and other professional services that you would normally have to employ. Medical practices spend thousands upon thousands of dollars each year on training and education.
- Save Time for Patients – Another side benefit of outsourcing billing ENT services is that you and your staff will have more time for the real purpose of your practice, working with patients. Many ENT practices are spread thin and outsourcing medical billing sources can really help to free up valuable time. This is one of the most common things discovered in a professional healthcare audit, the need for more time with patients.
- Cost-Effective Billing – When you decide to outsource your ENT billing and coding, make sure to ask what the fee schedule is and you might be surprised. Many billing services will only charge on what is called a “percent basis,” meaning that you will only be billed based on the revenue that is collected by the service. This makes outsourcing medical billing services even more practical and cost-effective, as the billing company is even more dedicated to boosting revenue and adhering to essential regulations.
- Health Care Law Compliance – In addition to staying on top of all the changes in the world of ENT billing and coding, outsourced companies are required to be compliant with all of the latest health care laws, including ICD-10, HIPAA, the HealthCare Reform Bill and the Affordable Care Act to ensure that the laws are being followed.
- Improve Your Own Billing Procedures – When you work side-by-side with a professional team for outsourcing billing ENT services like MD Pro Solutions, you gain the opportunity to learn more about the changes that have been made to ENT billing and coding, get the training and support you need, plus the confidence required to get back in the saddle and take over your own billing and coding when you are ready.
Call MD Pro Solutions Today
If you are interested in learning more about how outsourcing medical billing services and getting a professional healthcare audit for your practice can help you to increase revenue, improve management and assist in growing your practice, contact us right away. Our team of highly trained and specialized Otolaryngology billing, coding and management experts can help you take your ENT practice to the next level. Call today at 508-946-1665 to learn more about all of the services available at MD Pro Solutions.