Expert Medical Billing & Revenue Cycle Management Tips
Stay informed with the latest insights in medical billing, revenue cycle management, and healthcare financial strategies. Our expert-driven blog covers industry updates, best practices, and practical solutions to help your practice optimize billing, reduce denials, and maximize revenue. Explore our articles and take control of your financial success today!
How to Interview an Outsource Medical Billing Company
First off, if you’ve finally decided to interview a few outsource medical billing companies, congratulations! Outsourcing your medical billing can offer a whole host of benefits to improve the overall efficiency and profitability of your practice. The trouble though is finding a medical billing company that can actually deliver on the lofty promises that they give you when you’re in initial negotiations. At Outsource Receivables, we’ll be completely transparent throughout the negotiation process to ensure that we’re always up front about what we can and cannot do. If you’re just beginning to look for a medical billing company, be sure to keep the following tips in mind.
There Are No Guarantees in Life – Or Are There? Why ORI Can Guarantee Results
Medical Billing Results Guaranteed – When you hire a medical billing company to help you reduce your outstanding receivables, you may be skeptical about whether or not you will actually save money. With many companies promising you all sorts of things, it can be difficult to know who to trust. Thankfully our team at Outsource Receivables has decades of experience and is able to offer an iron-clad guarantee that you’ll receive results that will make your investment in a medical billing company worth it. Example – Outsource Receivables will save you 15% overall compared to handling your billing in-house.
Staying on Top of Medical Billing in the 4th Quarter: Tips from the Experts
In a nutshell, medical billing and coding are the engines that keep a healthcare practice in business. Any errors or inefficiencies along the way can create a longer and more labor-intensive process for receiving payment for services rendered. As we reach the end of the year there are things that a medical practice can do to maximize revenue and make the end of year process simple. Staying on top of medical billing in the 4th quarter is crucial for stopping reimbursement headaches.
Asking Clients To Pay Is Easier Than You’d Think
Tips on How and When to Ask for Payment
As a medical practice, we would guess that one of your biggest challenges has to do with collecting payments from your patients. Collections typically is one of the last things that you want to deal with, but the reality is that without healthy financials, your entire practice could go under. At Outsource Receivables, we’ve been working with medical practices since 1998 to streamline their medical billing processes to boost profitability for our clients.
Boosting profitability for your medical practice revolves around efficient medical billing and collection processes. With it becoming more difficult to collect from both patients and insurance companies, it’s critical that you do all you can to improve your collections rates for your medical practice.
Efficient Medical Billing Services
Have you considered outsourcing medical billing for your clinic or practice to a third party? There are numerous advantages to selecting a medical billing service that is staffed with highly experienced professionals who can handle all of your billing and coding needs. Outsource Receivables, Inc. (ORI) is that company. Our process is highly efficient and could save you time and money. Partnering with local medical billing experts is better than working with an offshore vendor where customer support and privacy concerns can be overwhelming. ORI provides customizable services that can manage whatever you need. Services range from a small portion of your clinic’s revenue stream or up to the entire billing process given a boost of efficiency.
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.
Medical 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…
Healthcare 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…
Getting 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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