Should you outsource your billing?
You’re a new provider.
New providers have plenty to learn and worry about aside from their billing. Outsourcing their billing from the start can give them much needed relief from the day-to-day stress of launching a new practice, without a trial by fire in hiring,training and managing employees.
You have different priorities.
Many doctors are not strong on the business side of running a practice. They became doctors to help patients- not to worry about the administrative/clerical side of the business.
Outsourcing the billing process eliminates the hassle and frees doctors to concentrate on patients.
Your billing process is inefficient *IF*
you’ve been watching your collections drop while the time to collect increases, you may have issues in your billing department. Outsourcing to a third-party billing service typically decreases the number of rejected claims and the time it takes to receive payment from a payer.
You have high staff turnover
Turnover is an issue in any industry but turnover in a provider’s billing department is especially damaging. Claim processing is the economic life blood of a practice and a new addition or replacement in the billing department will inevitably lead to slowdown in the processing of claims.
You’re not tech savvy
Keeping your billing in-house will require an investment in practice management software. Add in training for your staff and the significance of this investment becomes clearer. If you don’t want to deal with stress of software upgrades and occasional technical issues, outsourcing is a good choice.