Medical billing and coding are indeed a very complex subject. It is important to analyze whether your practice will need an in-house medical biller and coder or have it outsourced.
Nitin Chhoda gives some factors to consider in order to guide your physical therapy practice when it comes to your medical billing needs.
Outsourcing often increases efficiency, especially in technical fields like accounting and medical billing and coding.
Within a single office, a number of practices can be serviced by a handful of highly skilled professional medical billers and coders.
They can focus all of their resources and attention on efficiency and a system that works. At a medical clinic, the primary focus is often the patients, as it should be.
Reasons to Outsource Your Medical Billing and Coding
Here are some very good reasons that a practice should consider outsourcing medical billing and coding. For the most part, the decision will be financial. But to determine whether or not it will be worthwhile for your practice to outsource can be so complex that identifying key reasons to outsource will help.
New clinicians or health care providers have a whole host of things to worry about. How do you maintain a steady stream of patients?
Does your practice have the in-house testing capabilities necessary for the needs of the community? How do you balance the business side with patient care? How many hours per day should you be seeing patients?
Probably the top concern is how your patients are doing, how they feel about you, and whether or not you’re helping them. Managing a business at the same time as you’re learning what it means to run a private practice can be overwhelming.
Staff Turnover is High
If you are handling in-house medical billing and coding, but have to hire a new biller or coder regularly, your practice will suffer.
The learning curve for medical billing and coding is unforgiving and even a skilled medical billing and coding professional is going to be slow to start as they figure out your particular system. For practices that can’t seem to keep medical billing and coding staff members, a consistent service from elsewhere will be more efficient.
Outsourcing has a couple of major benefits, and one of them is that rejections and denials are usually decreased when you outsource medical billing and coding.
If you are experiencing problems with collections and your rejection and denial rate is high, it may be time to consider giving the job to a service that specializes in getting claims accepted.
You Don’t Want to Focus on Billing
Chances are, you don’t want to think about medical billing and coding. As critical as getting paid is to the health of your practice, if you became a doctor because you want to help people feel better, billing is probably an annoying part of your job.
Not to mention the fact that an incredible amount of tech savvy and skill is required to make your medical billing and coding system efficient and effective. Many clinicians decide that the billing side is the part they don’t want to know about – they’d prefer to let someone else worry about the medical billing and coding courses so they can continue to provide a service to the community.