One question that faces every medical practice, hospital and urgent care center is: Should we continue in-house billing or outsource our billing instead? Needless to say, there are pros and cons to each of these billing methods. However, there are several benefits to outsourced medical billing that are frequently overlooked.
In-House Billing Can Be Costly
Some may say that they do not want to pay the fees associated with outsourcing to medical billing companies; however, few consider the thousands of dollars being spent on annual salaries and the benefits that each of their in-house medical claims processors receives. On top of that, there are additional costs for purchasing, maintaining and upgrading computer equipment and billing software. A medical billing company in Katy typically charges on a per claim basis (flat rate) or accepts a percentage of reimbursement on each paid claim, eliminating the need for purchasing computer equipment and software. Furthermore, this eliminates the need to pay an annual salary, provide benefits and continued education courses to an in-house medical biller.
In-House Medical Billing Can Take Time Away from Patient Care
Medical practices, hospitals and urgent care centers that do not have employees dedicated to medical billing may also be affecting their bottom line. Providing the highest quality of care is the most important aspect of any medical practice, hospital or urgent care center: It is the high-quality care that keeps patients coming back. When staff members who specialize in caring for patients are also required to perform tasks that do not utilize their special skills, patient care may suffer.
Potential Interruptions in Cash Flow
Medical providers who have a designated medical biller rely solely on that individual to create and submit medical claims, use the proper diagnosis and procedure codes to ensure fast reimbursement as well as deal with any insurance-related problems that arise. An interruption in cash flow due to the absence of a medical biller can cause enormous problems for the medical providers themselves and other employees. A medical billing service continuously submits claims to keep the cash flow steady.
Billing Errors Occur More Frequently with In-House Billing
Medical billing professionals specialize in properly submitting medical claims using the appropriate codes as outlined by the ICD-10 CM and ICD-10 PCS, which is an important aspect of revenue cycle management. Furthermore, medical billing services ensure that their medical billers remain up-to-date on coding changes related to the medical billing industry. This is accomplished by utilizing credentialing services. When American ICD codes are deleted or changed, a medical biller must be able to adapt; otherwise, submitted claims using the incorrect codes remain unpaid and may require resubmission. Remaining abreast of these changes may be difficult for individuals who are not dedicated to a career in medical billing.
In-House Medical Billers May Not Realize Why a Claim Remains Unpaid
Moreover, on many occasions, a claim is denied due to inaccurate documentation or a lack of information. In the event that a claim is left unpaid, medical billing companies in Houston ensure their medical billers know what to look for to get the claim resubmitted and paid quickly.
One of the best ways to make sure that your patients receive the best care possible and billing issues do not bring hardship upon your practice is to hire a company that specializes in medical billing in Katy. One of these companies is Right Medical Billing. When combined, RMB’s staff has more than 30 years of experience working in the medical billing industry. Right Medical Billing’s staff members have the experience, skills, dedication and knowledge to provide you with the best medical billing Houston has to offer. Our goal is to partner with you to improve your billing practices and insurance claim acceptance rate.
About Right Medical Billing
One way to ensure that common issues such as these do not arise in your practice, is to hire a specialist from one of your local, reputable medical billing companies, such as Right Medical Billing. With more than 30 years of combined experience, RMB’s staff members have the knowledge, experience, skillset and dedication to provide you with the quality medical coding and billing you need. RMB takes the time to learn about your practice’s specific needs. Right Medical Billing offers much more than certified coding: We partner with our clients, providing training for staff members and patient billing support. Our ultimate goal is to improve your overall billing practices and insurance claim acceptance rate to increase your revenue. If you wish to improve the workflow and revenue of your practice today, contact Right Medical Billing and speak with one of your specialist to see how we can help you and your practice improve.