When determining if outsourcing your medical billing tasks is right for your practice it’s important to consider the advantages and disadvantages of each alternative. For many practitioners, outsourcing your billing is a way to tackle many of the in-house issues that might plague your practice. At MD Billing we take the required information from your front office staff, code and bill it for maximum revenue retention, contact the payer, handle any denials, then we get you paid! Saving you the time and effort of billing so you can get more patients in and out of your practice.

If you’re reading this, I can only assume that you’re interested in outsourcing your medical billing but are hesitant of the cost vs what benefits other than an obvious revenue boost you could expect when choosing to outsource.

1. Lower Costs for your Practice

Outsourcing your billing gives you a revenue boost but it can also lower your costs. Billing companies like MD Billing handle thousands of claims a day, allowing for the privilege of economy of scale, simply meaning that the cost of each claim will be lower than that of your standard private practice. Outsourcing also means a practice won’t need to worry about the fixed cost of an internal billing department.

2. Keeping up with Regulations

Medical billing professionals know that CMS regulations are constantly changing and adapting to the never-ending cycle that is our healthcare system, especially in the times of COVID-19. Providers can struggle to keep up with these changes, increasing their odds for more of their claims to be denied. By the time you get through your claims, you have a stack of denials waiting to be addressed.

3. Potential Growth Experts

When you choose to outsource your billing with MD Billing, we start from scratch. Evaluating your financial goals and from there we evaluate your practices unique challenges and specific needs. Once we understand your financial goals and daily operations, we’ll identify areas for growth, improvement and opportunities.

4. Front Office Training/Professional Billers make less Mistakes

When providers choose to bill in house, they must accept two things. First, that their front office staff will need time to adjust and learn how to code and bill properly. Second, there will most likely be an excess of denials from the clearinghouse in this time frame. Avoiding these roadblocks by outsourcing puts the financial burdens of billing and coding to trained professionals. At MD Billing, our team of certified experts are experienced and our coders are specialty-specific and highly dedicated to serving your needs, so-much-so, that we will train your front office staff for maximum revenue retention.

5. Satisfied Patients

For both a practice and its patients, dealing with insurance companies is both time consuming and annoying. Outsourcing allows us to handle this stressful process for both the practice and the patient. Our team provides excellent patient payment collection services by delivering accurate statements to patients as quickly as possible. We will encourage your customers to make payments by sending them clear and concise statements that can be easily understood. Our patient collections services will also provide your practice with the right tools and solutions to collect the money you are owed. While increasing customer satisfaction and improving the patient billing experience with personalized print and digital statements.

One of the biggest disadvantages that comes with outsourcing your medical billing tasks is the feeling that you’re now out of the loop in a crucial aspect of your business. Should a problem arise, billing in-house allows for immediate action and awareness by you or your staff. Solving the problem on the other hand, can be tricky if you do not have professional biller on your staff. So, if you do decide to outsource, choose a billing company that is transparent throughout the medical billing process.