Remember Me
forgot your password?

Medical Billing Outsourcing Versus In-house

There are many compelling reasons why medical billing outsourcing to a professional medical billing and coding company makes sense. A major problem with in-house medical billing services is the human one. Management, turnover, retraining and growth. Do you have the time and money for all of that? HRM (Human Resource Management) is the most compelling single reason why physicians and other medical service providers outsource their medical billing to a medical billing company that specializes in providing this service.
HRM problems come about from two areas, employee turnover and practice growth.
Reducing Employee Turnover With Medical Billing Outsourcing:
While your practice may be lucky by having people who have stayed with you through the years, the fact remains that they will, eventually, leave. Others are faced with an on-going turnover problem. In either event, once a medical billing specialist leaves, you are forced to fill the vacant spot right away or your cash-flow may be compromised. That often means hiring someone with lesser …or worse yet very little medical billing experience. Inexperienced medical billing specialist make errors ... errors that can cost your practice money or seriously delay your getting paid in a timely manner. Also, who will take the time to train your new medical billing specialist? Will you spend your time doing this? Or will you pay someone else to do it? Is that a good use of your time? Even if you still have other medical billing specialists, their use in training will take away from their time normally spent in helping to get you paid in a timely manner. Medical billing outsourcing avoids these problems all together.

Many medical practices go through high turnover periods, while others find loyal people who dedicate many years to working for the same Physician. The human resource management cycle can be very difficult for a Physician to maintain. Once the medical billing specialist leaves, the Physician is left with no other option and is usually forced to hire another medical billing specialist who has very little experience. Ask yourself this question, when would you be the most worried; when your receptionist quits or when your medical billing specialist leaves? Do you really have the time to find a medical billing specialist who is experienced and reliable and can do the right job with the amount of attention your medical billing deserves? Medical billing outsourcing is a better solution.

Growing a Professional Practice:

As your business grows, your revenues will grow and so will the medical billing and coding workload. However, your employee costs are fixed costs, while your billings and receivables are not fixed. So, when your business has grown to the point where the workload overtaxes the current medical billing personnel, you will need to add another medical billing specialist … maybe more. That is an abrupt increase in fixed costs, because now you are - in effect - overstaffed, as the volume of the workload has not as yet caught up to your newly-expanded billing capacity.

Use medical billing outsourcing to change your medical billing expenses from a fixed cost to a variable cost and improve your ability to manage your business.

When you choose medical billing outsourcing, your costs vary directly with your medical billings. If your medical billings drop, your costs drop. If your medical billings go up, your costs do not rise disproportionately. This simple fact can make your business planning easier.

Less Paperwork and Lower Employee Costs With Medical Billing Outsourcing

If you do your medical billing internally, salary is typically only about 70-75% of your employee costs when you figure in payroll taxes, FICA and insurance. Not to mention that added paperwork cost of administering them. Plus, when your medical billing specialists are sick or on vacation, you’re still paying them for not working. When you outsource your billing by taking advantage of our professional medical billing specialists, the overhead and paperwork is ours, not yours.

• Medical Billing Specialist's Employee salary
• Medical Billing Specialist's Employee benefits
o Worker’s compensation
o FICA
o Healthcare insurance
o Vacation, sick leave, etc.
o Performance bonus
• Computer hardware purchase & maintenance
• Software purchase & renewal
• Clearinghouse fees
• Postage
• Stationery
• Physical (Office) Space
• Training and re-training
• Recruitment costs
• YOUR time
• YOUR opportunity costs

Reduce Errors and Receive Revenue Faster With Medical Billing Outsourcing:

Medical Insurers are always looking for ways to slow down paying you. It’s how they manage their cash flow. Anything that is miscoded can cause your bill to be rejected or its payment delayed significantly. When you outsource your medical billing to our medical billing specialists, you’ll not only be getting professional medical billing services, you’ll be benefiting from a degree of accuracy that would be difficult to match internally. At Medical Billing, each submission is reviewed by a supervisor to help ensure accuracy. That “extra level of eyes” is a luxury impractical with in-house medical billing.

Our Incentive, Your Control

When you take advantage of medical billing outsourcing, you improve your cash flow and collections and reduce the costs and headaches of employee problems. And we can even offer you a line of credit at Below-Prime through Medical-Finance.com

Call now for a free consultation. Let our Medical Billing Specialists show you how to keep more of the money you make. Outsourcing your medical billing services allows the money you get to grow in direct proportion to the direction your business is going.

Josh Gerson

This article was written by the medical-billing.com staff.

Call to speak with one of our medical billing specialists at:

1-800-966-9270

Or visit us at:

1-800-966-9270
solutions@medical-billing.com

http://medical-billing.com

Rate this Article: 5 / 5 stars - 1 vote(s)
Print Email Re-Publish

Add new Comment



Captcha

  • Latest Health Articles
  • More from Josh Gerson

Physician Recruiting And The Physician

By: Wayne Hemrick | 19/12/2009
A working doctor's days are full from beginning to end, leaving little time for job searches. Instead, veteran and new physicians turn to a physician recruiter service for help with finding locum tenens jobs.

Locum Tenens Jobs Offer Flexible Scheduling

By: Wayne Hemrick | 19/12/2009
With this information in hand, locum tenens companies can scan their extensive databases of job openings around the country and offer you a listing of those physician jobs that match your criteria.

Physician Staffing Services: What Can They Do For The Busy Physician?

By: Wayne Hemrick | 19/12/2009
It is for this reason that many physicians turn to physician staffing locum tenens companies to help them locate quality physician jobs.

What is Bikram Yoga?

By: Adrianna Noton | 19/12/2009
Also known as 'hot yoga,' Bikram yoga is a type of yoga that concentrates on the cleansing of the body and on improving one's physical strength and endurance. It is practiced in rooms that have a temperature of about 100 degrees Fahrenheit (37.8 degrees Celsius) or a bit more. Yoga...

Locum Tenens Physician Jobs Available Online

By: Wayne Hemrick | 19/12/2009
By using a physician recruiting service, they do that tedious work for you, so you will only need to choose from jobs that are well qualified to meet your needs.

The Truth About Those Booty and Leg Shaping Sneakers Seen on TV

By: Will Brink | 19/12/2009
I don't usually write about a specific bodypart, but I was inspired to by the recent development of companies selling booty building sneakers claiming to "help make your legs and butt look great..." The Reebok "EasyTone" sneaker probably being the best known, but there are others. The Reebok version claiming...

The Truth About Toning and Firming and Other Missleading Industry Terms

By: Will Brink | 19/12/2009
The Truth About Three Common Industry Terms After almost two decades of being in the health/fitness/bodybuilding industry in one form or another, as trainer, writer, consultant, or what have you, I have heard all the catchy industry terms that are used to sell supplements, diets, and exercise plans to people. Some...

What is the Best Fat Burner?

By: Mike | 19/12/2009
http://www.warpspeedfatlossdiet.com Free Video reveals 4 secrets to increase your weight loss starting tomorrow. Learn about the best fat burner and how fat burning supplements stack up

Mortgage Terms Defined

By: Josh Gerson | 06/08/2007 | Home & Family
Mortgage terms can be confusing. Learn as much as you can.

Submit Your Articles Free: Signup
Article Categories




Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.05, 1, w2)