| Over the next two weeks I plan to discuss a | | | | 4. They are better positioned to properly utilize |
| framework for thinking through whether | | | | the technology they have. |
| outsourced medical billing is the right decision for | | | | 5. They have a broader scope than any single |
| you. The decision is a critical one, so it is | | | | medical practice or facility. This allows them to |
| imperative that it be based in facts and not in | | | | see patterns across practices, specialties, states |
| urban legends and myths. Although I am focusing | | | | and payers that can add money to your medical |
| on medical insurance billing services, the basic | | | | practice's bottom line. |
| concepts apply to any outsourcing decision. Today | | | | The typical concerns that physicians and practice |
| I will outline the main benefits to consider when | | | | managers have when deciding whether they want |
| making the decision about medical insurance billing | | | | to outsource medical billing are: |
| outsourcing and the most typical concerns and | | | | |
| risks associated with the decision to outsource | | | | 1. Will billing services fight as hard for me with |
| medical billing. Over the following days I will discuss | | | | insurance companies as my own employees? |
| each element in more detail. | | | | 2. Can outsourced billing companies handle the |
| The fundamental principal behind outsourcing is the | | | | unique elements of my practice? |
| focus on core competencies. The idea is that you | | | | 3. Will I lose control and visibility into how my |
| and your practice are geared towards treating | | | | accounts are being worked? |
| patients, not fighting insurance companies and | | | | 4. Will an outsourced billing company alienate my |
| pursuing personal balances. On the other hand, | | | | patients through heavy handed collection |
| medical insurance billing services focus on billing and | | | | practices? |
| should have the scale, focus and employees to do | | | | 5. Will medical insurance billing services only go |
| a better job than most medical practices or | | | | after the low hanging fruit, and leave the more |
| medical facilities. The primary benefits that a | | | | difficult money uncollected? |
| medical practice should see from the right medical | | | | Over the upcoming two weeks I will go into more |
| billing service are: | | | | depth on each of the benefits and concerns |
| | | | outlined above. I will go ahead and give you a |
| 1. They have more scale to purchase and deploy | | | | peek at the final chapter. The trick is finding the |
| the technologies required to properly submit | | | | right insurance billing company. Once you have a |
| claims, battle with insurance companies and collect | | | | company with a proven track record you will be |
| personal balances. | | | | able to see substantial improvements in your |
| 2. They are able to attract a higher caliber of | | | | practice's revenues have a more attractive |
| billing specialists and retain these individuals. | | | | bottom line and have more time and energy for |
| 3. They have a deeper bench of employees and | | | | your patients, growing your practice and - heaven |
| this provides a layer of protection for your | | | | forbid - a life outside the office. If you cannot |
| practice by decoupling you from the risk | | | | wait to hear more, then please visit the main |
| associated with losing a key (if not the key) billing | | | | Medical Billing Services Buying Guide website or |
| employee. | | | | blog for further information on this critical topic. |