Many healthcare centers process their medical billing by in-house staff because they consider it an easy task to perform. The in-house staff is already overwhelmed with duties, and these additional responsibilities could burden the staff in the medical field.
Whether it is delayed payments, organizational issues, or other challenges associated with the medical billing process, the in-house billing team cannot manage it properly, which can cause potential complications in the billing process.
By employing an outsourced medical billing service, medical practices can avoid some of the common errors. While outsourcing medical billing, practitioners / in-house staff perform tasks with more dedication, saving time and showing more affection to their patients.
Outsourced medical billing ensures a high-profit margin in medical practice, up-to-date billing, and is free from human errors. Trustworthy medical billing companies can rely on the professional expertise of their staff and find the most efficient and comprehensive way of processing coding and billing, so medical practices can more easily focus on their areas of improvement.
Difference between In-House vs. Outsourced Medical Billing
There are significant differences between in-house billing services and outsourced medical billing services. The in-house medical billing team is located within the medical practice; outsourced medical billing is a third party that is stationed outside of the medical practice.
More control over the billing process
The in-house medical billing team has control and ownership of the medical billing process. Outsourcing medical billing takes the responsibility of the medical practice away. Medical facilitators give more care to patients. Choosing the right and trustworthy medical billing outsourcing services is necessary for efficient and effective results.
Lessen the risk of medical billing errors
In-house billing teams perform more costly medical billing processes and run the risk of more coding errors that affect reimbursement from payers. The Outsource medical billing service is composed of carefully processed medical billing.
Enormous medical billing services
Undoubtedly, in-house billing staff has plenty of qualifying experience, but outsourcing the medical billing process removes many of the stressors. Outsourced medical billing services have a dedicated team of specialized billers who are fully aware of the changes in CPT codes and the regulatory environment.
Less Expensive medical billing services
In-housing billing bears the expenses of paying billers’ salaries, employee benefits covered by in-house billers, purchasing technology, etc. Outsourced medical billing services in USA make more financial sense than an in-house billing team. External medical billers are less expensive and more efficiently handle medical practice expenses.
Enhance consistency performance
In-house medical billing consists of only two or three staff members who do operations and manage all chores. If any employee is sick or goes on vacation it can cause great loss.
Outsourcing medical services have to perform certain services such as appealing denials; they have a large team of billers and coders, and the billing process does not affect employee’ leave.
More clarity in the medical billing process
In-house medical billers are unable to manage records, so many records vanish from the data and are unachievable at the time of need. Services given by outsourced medical billing show comprehensive reports automatically by using the latest technology system.
Outsourcing Podiatry Billing Services
Podiatry services are more complex than most medical practices. Apart from all these complicated medical issues, additional complexity that adds to the podiatric services and procedures involves specific medical billing and coding.
As the medical necessity and the restrictions on the foot conditions to be treated are very specific, that’s why professional’s billers and coders are required to handle these restrictions.
Moreover, the podiatrists must understand what services are to be covered under which insurance plans, use of correct and appropriate codes for such services, submission of clean documentation, etc., are required to maximize the reimbursement amount.
In addition to Podiatry billing services, it has become necessary for them (podiatrists) to focus on their core competencies rather than dealing with all these complexities mentioned above. They have limited time at their disposal as well as they have their own patients who need their attention 24/7.
Outsource Podiatry medical billing helps in reducing your clinical time by freeing up your time for clinical work as well as improving patient satisfaction by providing accurate and error-free documentation which is often a bottleneck for most physicians. Moreover, it also allows you to focus.
How Medcare MSO, an outsourced medical billing services, can improve medical practice
The above discussion concludes that outsourcing medical billing services is exceptionally beneficial for medical practice but needs to know which external medical billing services are trustworthy and show outstanding performance.
Medcare MSO is a superlative outsourced medical billing service that works with all small and big medical practices to help them and deliver outstanding healthcare services.
We have more control and a sustainable approach toward revenue cycle management. We maintain better consistency in medical practice, and ensure billing is done accurately, Medcare MSO focus on reducing billing expenses, adding coding accurately, and providing error-free coding.
The support system of Medcare MSO is always shown to be a unique support system that allows the medical practice to streamline the revenue cycle.
Here is the general outline of how Medcare MSO works
- Patient Registration
Patient registration is the foremost step of Medcare MSO outsourced medical billing flow charts. This is demographic information of patients, including name, address, date of birth, insurance id, and purpose of visit.
Insurance information is collected along with the insurance provider’s name and the patient’s policy number. Medical billers verify all this information. This information is taken to make a patient file that can be used during medical billing.
- Financial Responsibility
Medcare MSO determines financial responsibility for the visit. It means we look through patients’ insurance details to examine which services and procedures are covered by the insurance services.
- Allow more focus on patient care
Medcare MSO is a medical billing services that allows the medical practice to concentrate on patient satisfaction and provide quality care to patients.
- Reduce medical billing errors
Our Professional and experienced medical billers can ensure claims are accurately submitted timely. The sole purpose of the Medcare MSO is to provide outstanding medical billing services; we know just one mistake in medical billing can cause a significant delay in payments.
Some errors, such as incorrect patient information, duplicate billing, and authorization errors, cause massive destruction in billing. Our efficient team takes care of these errors and double-checks the claims before submission.
- Save money by outsourcing medical billing services
Our services can save thousands of dollars from annual salary and benefits, office supplies and furniture, purchasing, maintaining, and upgrading billing software and other computing equipment. Our services charge a very flat rate per claim or a small percentage of the little reimbursement on each claim.
- Improves cash flow
Medcare MSO medical billing service allows a steady and continuous flow of claims depart and cash coming in. A balanced cash flow is essential for the bottom line and success of the medical practice.
- Ensures billing compliance
Medcare MSO knows healthcare is an ever-changing and dynamic industry, so medical billing is challenging to cope with changes in Medicare and Medicaid. So our billers and coders ensure that the medical facilitators get proper protocol from each payer. Our services always stay up-to-date on the latest change in regulations and requirements to maintain compliance and make sure the submission of clean claims.
- Increase Revenue
Medcare MSO reduces cost, timely submission of medical claims, escalated reimbursement, and a higher profit is another advantage provided by our trained staff to medical officers. We provide the best quality service to the healthcare industry using the best & latest technology, products, and the best professional staff.