4 Reasons Why Outsourcing is Profitable for Family Practice
Mar 22, 2022
Medical billing is a key part of running a medical practice. Streamlining the process is important for making your family practice more profitable. Your goal is to focus on patients rather than medical billing and outsourcing provides you with numerous benefits that will help your practice run more smoothly. In fact, outsourcing provides benefits such as increased collections by 15% and decreased days in A/R by 19 days on average—all with a service tailored specifically to family practice providers.
Here are the top 4 reasons why outsourcing medical billing can be profitable for your family practice.
Fewer Days in A/R
Fewer days in A/R means that you are being paid faster. On average, when you outsource your medical billing you are looking to decrease the number of days in A/R by 19 days. This is achieved because the specialists working on your medical billing are quickly and accurately able to fill claims due to their expertise in billing for your area of specialty.
Remove the Risk of Costly Mistakes
When you are trying to train your own staff to handle medical billing who may be juggling other tasks or you’re attempting to handle the minutia of medical billing yourself, there’s a greater risk of costly mistakes. When you outsource, specialists will handle all of your medical billing. Medical billing specialists will be up-to-date on the latest changes in coding and billing procedures to ensure all billing is done correctly.
Free Up Your Time to See More Patients
Outsourcing your medical billing frees up hours of your and your staff’s time to focus on treating more patients. In turn, this boosts revenue as you are able to fit more patients into your schedule each day.
Save On Employee Overhead Costs
When you outsource you won’t need to employ a person specifically to handle medical billing for your family practice. Employees can be more costly than outsourcing as you have to handle all the costs associated with employees that exceed just their salary. For many practices, this makes outsourcing a no-brainer.
Outsourcing Your Medical Billing
With more time for patients, lower employee overhead, and fewer days in A/R, your family practice will more than benefit by outsourcing medical billing. You’ll also reap the benefits of less stress on you and your employees, giving you time to focus on expanding your practice instead of trudging through complicated medical billing processes.
Outsource Your Family Practice Medical Billing
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