Why is outsourcing your medical billing smart? There are several benefits, but a main reason is to put your coding and billing in the hands of professionals who know how to avoid the denials and mistakes that tend to happen with this sometimes-overwhelming process.
Medical billing has long been a complicated, detail-oriented process. In recent years, frequent updating of codes, changing payment regulations, and new compliance rules have made it challenging for in-house billing staff to stay current, leading to mistakes that delay payment and ultimately become costly to healthcare providers. Meanwhile, healthcare facilities must maintain a full-time medical billing staff just to ensure their employees have the time to bill in a timely fashion and keep up with new rules.
This expensive burden is completely unnecessary when you outsource your medical billing in 2023. An experienced medical billing company provides you with professionals who understand the details of medical billing and how to navigate denials. They also are highly affordable when compared with the cost of employing an in-house staff.
Affordable medical billing services
When mistakes are made in medical billing or when a rule change results in a claim being denied, it is usually the healthcare provider who pays in the form of lost revenue. Outsource your medical billing to a committed company, and the benefits add up.
- You work with a team of experts whose job it is to stay current on new rules, code updates, and the regulations specific to the insurance companies in your region.
- Billing and claims submission never take a back seat due to overburdened medical staff. Your medical billing company prioritizes submitting claims, double-checking coding, and following up on questions and denials.
- Medical billing companies provide software packages that go far beyond simply billing insurance companies. Your staff will have access to user-friendly programs that can help your whole team streamline operations to increase revenue for your practice.
- Medical billing companies are fully HIPAA compliant.
- When you outsource your medical billing, you eliminate the cost of billing software, continual updates to that software, and training for staff who must use it.
This year, commit your medical practice to working smart, not hard. If you are looking for an affordable medical billing service that will streamline your billing process, save you money, and increase your revenue, contact IBY Credentialing and Billing. Click here for more information about all the services provided by IBY, including insurance credentialing for your medical staff and full-service medical billing.