To ensure a successful medical billing process, modern technology and coding efforts are not the only factors. Factor like robust reporting, technical automation, and use of third party offshore vendors for billing also plays a vital role in a successful medical billing process. In fact, outsourcing medical billing practices has become a growing trend and the reason to reduce the operational cost of a billing process.
According to the black book survey, approximately 80% of leading hospitals are vetting or considering outsourcing their medical billing services to avoid billing and authorization stress.
“Today though the medical billing business has much modern software and process to ensure proper reimbursement, in-house staff are often seen juggling in between administrative work patient care, etc. That is why most of the healthcare providers prefer outsourcing their medical billing business for a better perspective,” said Dr. Dipak Nandi, an M.D. with a decade of experience in the medical billing business.
Dr. Dipak Nandi, the M.D., has also emphasized that “a perfect operational extension for your medical billing not only helps in reducing the cost but also ensures a seamless billing process improving your financial status. However, finding the perfect medical billing operational extension that suits your requirement is what challenging”.
Instead of just considering the cost reduction factor, one should also consider factors like robust reporting, dedicated manager for quick assistance, collection rate, industry references, and all.
Outsourcing medical billing practices to third-party offshore vendors today not only ends with continuous follow-up with doctor’s office and patient calls but also complete operational transparency in all the billing activities, which an in-house staff often lacks. To add to the advantages of outsourcing, medical billing operation eliminates the training time and the cost that the healthcare provider has to spend on learning and development on their own staff.
Relieving healthcare providers from a significant employment problem, outsourcing medical billing is always a better option for managing a financially healthier organization, along with paying core attention to the work of patient care.