One of the biggest debates in the healthcare industry by physicians is whether to outsource ENT billing or not. While some worry that outsourcing billing ENT services to a third-party provider would cause them to “lose control” over their ENT billing and coding, the truth is that it puts you back IN control. Additional benefits come from outsourcing essential services like this to a reputable and professional provider. So if you are thinking about outsourcing or are looking for solutions to billing issues at your office, here are some reasons to outsource medical billing that you should consider.
Reason #1 – More Space, Less Cost
Do you need more room at your current location? Are you finding that the back office area of your practice is becoming crowded? Would you like more space for office supplies, medical supplies, or even room to expand your waiting area? Having a billing department inside your office requires space, which is often at a premium in the average medical practice. If everything is outsourced to a third-party billing company, you won’t need a workspace for someone to sit to perform ENT billing and coding. This saves money as well, reducing the need for additional computers, software, peripherals, furniture, and future updates or replacements over time when you outsource ENT billing.
Reason #2 – No Delays in Billing Services
If you have one person doing all of the coding and billing at your office, you run the risk of missing days when they are out sick, get injured or take a vacation. When you are outsourcing billing ENT services, you never have to worry because an entire team of billing professionals can handle your account and make sure everything gets processed as it is submitted. You also don’t have to pay an extra employee or team of employees all of those benefits, including sick time, vacation, and insurance. And, if you lose staff members due to retirement, or they put in their notice to work somewhere else, at least you won’t have to worry about your billing department suffering because of the loss.
Reason #3 – Increased Control Over Billing
One of the best reasons to outsource medical billing services is that it gives you more control over what is going on in your billing department. You can request an update at any time to know exactly where you stand with your accounts receivables. Most outsourcing services will be able to give you the exact percentage of claims that have been paid from the initial submission on a monthly basis. Additional information, such as outstanding accounts that are 30-days, 60-days, or even 90-days unpaid, can also be made available. Data through monthly, quarterly, and annual reports can reveal which payers provide the most value to the practice and other essential statistics that are often unavailable through in-house billing services.
A billing service can also help you to maximize your reimbursements by identifying common issues that could be occurring in the flow of billing and coding documentation. Consultants can help you and your staff to avoid these errors that could delay payments or otherwise negatively impact your claims. Quality billing services will share as much data as possible about behaviors and practices that can help you to have a more positive relationship with payers. Due to all of the data that is collected by the outsourced ENT billing and coding service, you will also be more prepared in the event of a payer’s audit, which is something that every practice has to face at some point.
Reason #4 – Stay on Top of Industry Changes
The panic that overtook the healthcare industry following the transition from ICD-9 to ICD-10, as well as the changes that the Affordable Care Act (ACA) required caused many practices, clinics, and hospitals to fall behind on medical billing. Some even went through unnecessarily long periods of slow payment due to billing and coding errors, which resulted in denied or rejected claims. When you work with a professional team to outsource ENT billing, you can be confident that the billing service is always aware of all proposed and pending changes that could potentially have an impact on your revenue cycle. Billing staff is consistently trained and updated on all coding and healthcare industry requirements.
Reason #5 – Eliminate Fixed Expenses
When you hire a billing team to provide you with in-house ENT billing and coding services, you pay a monthly bill that includes salaries, benefits, and other related expenses. However, when you work with a company for outsourcing billing ENT services, you pay a percentage of collections for the billing services instead of a fixed rate. This provides a perfect relationship between the amount of money that is collected from payers and the cost for the service that is provided. This provides the outsourcing company with an incentive to ensure the best results for your practice on a monthly basis to protect their interests as well. It also means that if business slows down for a season, that your costs to outsource ENT billing will go down to match.
Learn More about Outsourcing ENT BIlling and Coding
If you are interested in learning even more reasons to outsource medical billing or would like to speak with one of our consultants about any of the other professional services we provide, give us a call at 508-946-1665. MD Pro Solutions only works with Ear, Nose and Throat practices, clinics, physicians, and hospitals to provide focused and comprehensive services to our clients. Call today for a FREE evaluation or to get started with outsourced billing solutions.