Updated: May 3, 2021
If you are running a medical practice, then odds are you’re forced to devote some of your or your employees’ time to medical billing. This can be somewhat of an issue if you don’t have a staff dedicated solely to medical billing. Most practices have a few employees who share that responsibility among others. Because of this, outsourcing your medical billing services will allow you to free up valuable resources while also improving your medical billing service.
Few of the benefits that your practice will enjoy if you decide to outsource your medical billing services:
Your employees can focus more on other tasks. The employees who were in charge of your medical billing and collections will be able to focus on their other tasks, which will make your practice run much more efficiently and effectively. It also might mean that you won’t have to have as big of a staff, which in turn can help to reduce your overhead.
There will never be any medical billing delays If the employee in charge of medical billing and collections takes a day off because they are sick, then your medical billing and collections services will be delayed, which means so will your ability to collect claims. When you outsource these services, claims will be filed as soon as possible without delay. If the person in charge of your medical billing and collections is out, another expert will be able to temporarily take their place.
You’ll have no trouble keeping up with growth One of the challenges facing many medical practices is that when they begin expanding, they have trouble keeping up with medical billing and collections. When you outsource these services to us, we’ll be able to keep up with the growth of your practice without missing a beat.
Highly trained specialists will be in charge The rules and regulations involved with medical billing and collections can be very complicated – and they’re always evolving and changing. Keeping up with this information can be very time consuming for employees who have other work to do in addition to billing and collections. Additionally, a specialist will have a better chance of filing a successful appeal for any claims that were denied due to their expertise and experience.
Increase control of your medical billing One of the perceived drawbacks of outsourcing medical billing and collections services is that you lose control over that facet of your practice. However, this is a bit of a misconception. In a way, you’ll have more control over it because it will become more organized. We will present you with monthly and annual billing and collection reports and comparisons so that you can track all of your numbers. Additionally, we provide in-depth but easy to read account receivables analysis.
Maximize your collections Our specialists are much less likely to make errors while filing your claims because of the fact that they are not only highly trained, but also because their job is solely to handle medical billing and collections. The fewer errors that are made, the fewer claims will be rejected, allowing you to collect more revenue quicker.
Outsourcing your medical billing services to X-Factor Healthcare Solutions LLC can help free up resources in your own practice while also improving your medical billing service as a whole, thereby reducing billing related issues, maximizing collections and achieving optimal billing performance.
X-Factor Healthcare Solutions LLC is happy to help with your billing assessment needs so you can maximize profits and increase patient satisfaction.