4 Reasons Why Outsourcing Medical Billing is Profitable for Mental Health Practices
Feb 12, 2022
Medical billing is an important aspect of running a medical practice. Psychiatrists need to focus on patients rather than medical billing when they outsource their billing operations. 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 mental health providers that will increase profits.
Here are the top 4 reasons why outsourcing medical billing can be profitable for your mental health practice.
More Time to Focus on Your Patients and Their Care
You free up time to focus on more important aspects of your practice when you outsource your medical billing. You can then spend this extra time with patients or working on ways to improve your existing services. With more time spent with patients you will increase your collections and up the profitability of your practice.
Avoid Costly Mistakes
Outsourcing your medical billing to a specialist who is up-to-date on the latest changes in coding and billing procedures can help you avoid costly mistakes that can cut into your revenue.
Decrease Days in A/R
On average, outsourcing your medical billing can decrease the number of days in A/R by 19 days. Specialists are able to bill insurance companies quickly and accurately. This allows you to focus on what you do best—treat your patients.
When you outsource your medical billing, you are trusting someone else with this important task. Specialists who work in medical billing have years of experience dealing with all types of insurance companies and claim forms. This means that you can focus on providing quality care to your patients without having to worry about medical billing claims.
Save Your Practice Money
With outsourcing, you won’t need to employ a person or multiple people to handle medical billing for your practice. This cuts out all the costs associated with employees that exceed just the salary.
Outsourcing Your Medical Billing
There are many benefits to outsourcing your medical billing.
Some of these benefits include increased collections, decreased days in A/R, and saved money.
Contact us today for more information about our medical billing services tailored specifically for mental health providers!
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