4 Reasons Why Outsourcing Is Profitable for Radiology Practices
Feb 13, 2023
Medical billing is a large part of any radiology practice’s daily operations. Not only can medical billing take up your time and resources, but it can also be the source of errors, missed opportunities, and wasted potential. Outsourcing your radiology practice’s medical billing to a professional organization can help you increase your profits. Here are four ways that outsourcing makes radiology practices more profitable.
Reduce Billing Errors
You can expect fewer billing errors when you outsource your radiology practice’s medical billing. Medical billing companies hire and train the best medical billers who know the ins and outs of coding and billing. Fewer billing errors mean more money in your pocket and less time spent trying to fix mistakes. Billing errors are one headache that your radiology practice does not need.
Lower Overhead Costs
You might assume that outsourcing your radiology practice’s medical billing costs more than having an in-house billing team. However, this is not the case. Working with a professional billing company often costs less than paying employees to do the work. The fewer employees you have, the fewer overhead costs you have. When you lower your overhead costs, you can increase your radiology practice’s profits.
Reduced A/R Time
The longer your claims spend in accounts receivable, the longer you have to wait for the money to come in, and the bigger the chance bills go unpaid. When you outsource medical billing to a professional company, you can reduce the time claims spend in A/R. Professional medical billers can stay on top of claims and keep business moving. As a result, you can expect higher returns.
Increased Time for Patients
The less time you spend on medical billing and overseeing employees, the more time you can spend with your patients. When you remove logistical headaches from your radiology practice, you open yourself and your physicians up to seeing more patients and deepening your relationship with existing patients. Increasing your patient load can mean more profit for your practice.
The Benefits of Outsourcing Medical Claims
Outsourcing medical claims can be very profitable for radiology practices. Not only does outsourcing to professional medical billers open you up to spending more time with patients, but it also reduces errors, decreases A/R time, and lowers your overhead costs.
Quest National Services provides professional medical billing to medical practices nationwide. Our medical billers receive ample training so they can handle your claims with care and ease. See how you can increase collections by up to 15% by contacting us today.
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