The face of healthcare has changed. With the new Affordable Healthcare Act, many small private practices have been inundated with new patients clamoring to get in and be seen. Physicians are trying desperately to keep up with the demand, and still give each patient a quality experience.
Increased patient demand also means an increased administrative workload, placing a burden on front and back office staff. One particular way that private practices are keeping up with patient demand, as well as improving revenue cycle management, is by outsourcing their billing and collections processes to a medical billing company. With the technical paperwork out of the way, physicians and their staff are free to focus on the patient care and experience, rather than medical billing, coding, and collections.
And here is the best part. Outsourcing medical billing can actually improve both the top line revenue and the bottom line profitability of a medical practice. You will find other great resources on this page that will help you ask the right questions to determine if outsourcing is right for your practice.
Utilizing a medical billing company is beneficial for both the physicians who hired the company, as well and the patients who will interact with it. By centralizing the billing and collections, patients can have a direct link to control their account with their doctor’s office. If there is a balance to speak of, payment arrangements can be made, and the patient can still visit a private practice office without feeling nervous or slighted that the office staff is aware of their financial struggles. Physicians and their staff can focus solely on patient care, and really give each patient the time and attention that they deserve. Medical practice administrators and their staff can focus on other aspects of running a private medical practice such as operations, creating efficient processes and procedures, and creating a strong culture in the practice that benefits both staff and patients.
As private practices all over the country deal with major changes in the healthcare industry, many physicians have found this is an ideal time to extricate themselves from paperwork hassles and billing and coding regulations so they can get back to what they enjoy most—direct patient care. Outsourcing medical billing is beneficial to everyone—physicians, staff, and patients.