Every general surgery practitioner who runs his own medical practice understands that running a medical practice is similar to running any other business in more ways than one. However, most of the practitioners don’t pay much attention to their billing cycle and end up facing several problems. That is why, if you outsource general surgery medical billing services to a reliable company then you are left with enough time to focus on your core capabilities i.e. quality patient care delivery. Therefore, practitioners should look for innovative solutions to streamline their operational capabilities by considering to outsource general surgery billing.
In this article, I have underscored insightful facts that describe the importance of outsourcing general surgery billing services.
- ACQUIRE ASSISTANCE OF GENERAL SURGERY BILLING EXPERTS
When practitioners outsource their general surgery medical billing services to a professional company then they avail an opportunity to gain immediate access to expert assistance. Only subject-matter experts can understand how insurance companies think and can tailor their medical billing and coding services to ensure that claims get paid out in a timely manner. Moreover, a professional medical billing company already has highly trained staff in order to handle phone calls and problems.
If general surgery practitioners get involved in managing phone calls and keeping in touch with insurance companies then it is going to waste their time and assets. They can mitigate their problems that might arise with the way a certain visit has been coded. You should trust general surgery medical billing services with unparalleled experienced general surgery experts in healthcare experts.
- MAXIMIZE REVENUE GENERATION
Practitioners should also consider outsourcing general surgery billing services to maximize their revenue generation for the practice. Billing companies strive best to stay up on the date on the latest medical codes. Medical coding is the ever-evolving aspect of the healthcare industry. Therefore, if a new code is released for a medical condition, a medical billing company can quickly do the math and compare the revenue of the old code that yields the highest possible revenue.
Moreover, the medical billing company understands the quirks and style preference of different insurance companies. General surgery practitioners can take advantage of these experts’ knowledge to ensure that bills and claims are paid at the maximum rate possible. In this way, outsourcing general surgery billing services will maximize the revenue generated for the practice.
- SAVING TIME IS A PREMIUM
The time of a medical practitioner is one of the most valuable assets to their practice. Practitioners are always busy in the flood of tasks and they can’t spend endless hours fighting with an insurance company. Insurance companies have strict regulations that take a huge amount of time to ensure that claims are paid out.
Billing companies can also remove the chore of interviewing prospective employees for billing and coding professionals. With third-party handling for the general surgery billing services save practitioners a sufficient amount of time that can speed more patients and grow their practice.
- OFFICE SPACE
Practitioners should consider that offices can become crowded very quickly, especially during the COVID-19 pandemic. Nurses, patients, and physicians wouldn’t have to fit in a narrow hallway due to the crowded workforce. You can get extra space for your healthcare centre to accommodate more patients. By outsourcing general surgery billing services, practitioners can free up valuable space in their office that can be used for pressing matters.
- REFOCUS ON PATIENT CARE
With changes like MACRA and the shift to value-based care, practitioners are under pressure to refocus on quality metrics to prevent penalties that can lead to the reduction of insurance reimbursement. When you outsource general surgery billing, then you can focus on patient care without the additional stress of also overseeing your revenue cycle management. On a similar note, front office staff will likely benefit from reduced call volume, as mentioned earlier. Since all incoming billing-related phone calls will flow to the medical billing company.
- UP-TO-DATE SOFTWARE
Medical billing software has undergone its own series of evolutions in order to fulfil the latest healthcare industry demands. There are several software applications that are capable of compliance, billing efficiency, and streamlined operations. It can be quite costly to upgrade software as it usually takes hundreds of thousands of dollars to upgrade a single billing software system. Practitioners who are reluctant to invest in upgrading software may find that their revenue cycle management is quite difficult and less efficient. Therefore, they should shed the burden from their shoulders and hire a medical billing company that guarantees to provide advanced solutions for your general surgery medical billing services.
- LIMITED IN-HOUSE EXPERTS
Generally, medical billing, coding and revenue cycle management are the complicated aspects of the healthcare environment. It has become extremely complex to comply with the regulatory standards of insurance companies. Therefore, acquiring a greater level of expertise to achieve maximum reimbursement and optimal cash flow is a primary requirement to run a successful medical practice.
While in-house medical billers and coders may process hundreds of claims each month, a professional medical billing expert would likely process thousands of claims across multiple specialities. Thus, practitioners can benefit this wider range of expertise and knowledge.
- LOWER OVERHEAD COSTS
In-house medical billing tends to be a fixed cost for medical practices. Costs related to staffing and IT expenditures can be a significant cost for independent practice and must be paid regardless of the amount of revenue being generated. Outsourcing billing procedures can eliminate a portion of those expenses, shifting them to variable costs that are based on the number of claims processed as well as reimbursements captured.
In this way, general surgery practitioners with high claim volume experience significant growth of their business by outsourcing. Inaccurately processed claims result in underpayment or no payment at all. Even small practices who have a few dozen unpaid claims per month can observe a significant improvement in revenue growth by outsourcing general surgery billing services.
If you’re interested in outsourcing your practice’s medical billing, Medcare MSO can help. As a well-experienced medical billing company, we know that every dollar and claim counts. We understand the complexities of revenue cycle management and ensure an accurate billing process that leads to more satisfied patients — and every important factor that contributes to maintaining practice profitability.