Medical Billing Blogs
Improving Your Practice’s Accounts Receivables (A/R) When You Should Call the Professionals
One of the biggest problems for a medical practice, or any business for that matter, is ensuring you get paid in a timely manner. What private practice medical providers often forget is they are not just providing medical services to their patients, they’re also running a business. If your medical practice doesn’t treat itself like a business, it will likely run into trouble down the road. One of the areas that trips up many medical practices is A/R or accounts receivable. At Outsource Receivables we’re constantly working with medical practices of all sizes to institute strategies and procedures to improve A/R. When A/R is healthy, so is the overall practice.
Getting Ready For Tax Season: What A Medical Practice Needs To Know
While it feels like the year has just begun, we’re already into the 4th quarter which means it’s time to start thinking about taxes. No business owner wants to think about dealing with the IRS, but unfortunately it’s inevitable and something that as a medical practice you have to deal with or else risk getting into serious trouble. While our team at Outsource Receivables can help you to get a better handle on your profitability, we thought it would be a good idea to put together a few tax tips as we get closer to the end of the year.
In this article are steps you can take now to ensure that come April 15th, your life doesn’t unravel because you weren’t properly prepared to file your taxes. Keep in mind that all of these tax tips should be run by your accountant to ensure that they apply in your local area.
read moreMedical Coding Errors: What They Cost A Private Practice
As a medical practice owner, have you ever had the feeling the practice was running along smoothly only to then be bogged down with several medical coding errors all in a row? Did the errors result in you not being properly reimbursed for services? While one or two medical coding problems may be trivial and easy to solve, continued coding errors often result in loss of income for practices. Thankfully, the medical coding experts at Outsource Receivables can help minimize these errors and in turn boost the profitability of your practice.
Medical coding errors can be extremely costly not only in terms of lost revenue, but also in terms of frustration felt by patients. According to the Institute of Medicine, medical billing errors cost practices between $17 – $29 billion each year. These are staggering numbers that emphasize the enormity of medical coding errors…
read moreHealthcare Billing Services Provider
Need some help with the ongoing healthcare bills that have been becoming more difficult to manage internally? Sure, handling some aspects of your medical practice internally may be a good idea, but when it comes to your healthcare billing, it’s in your best interest to leave this aspect of your practice up to billing professionals. At Outsource Receivables, Inc., (ORI), we are a healthcare billing services provider that has been around since 1998 and we take pride in offering you the total package when it comes to managing your billing.
What is great about partnering with our medical billing professionals at ORI is that you get access to your own expert billing team. Our staff can help you in so many ways, making the decision to outsource your healthcare billing an easy decision. In fact, we have a team of more than 80 people that can assist you with…
read moreGetting the Most Profit from Your Medical Practice
Running a medical practice can be extremely challenging. You not only have to effectively diagnose your patients, but you also must be well versed in the various medical billing practices to ensure you’re able to get paid on time. Thanks to constantly changing insurance regulations, understanding medical billing is a full-time job. Thankfully, medical practices around the country are learning the many benefits of outsourcing medical billing to a third-party company like Outsource Receivables. There are a whole host of reasons why outsourcing your medical billing can pay great dividends for your practice. A few of the most common reasons our clients choose to work with an experienced medical billing company like Outsource Receivables, include…
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Outsource Receivables Inc. Medical Billing Experts
Minneapolis Office
5354 Edgewood Drive
Mounds View, MN 55112
(866) 585-2800
Chicago Office
8505 West 183rd St. Ste G2
Tinley Park, IL 60477
(708) 864-4972