As we enter Q4 of the year, the healthcare industry continues to see struggles with retention and staffing. According to an MGMA stat, this supports a poll by medical practices that found 73% rank staffing as their biggest challenge in 2022. Overall, these medical staffing challenges affect the revenue cycle of a provider. Luckily, as the outsourcing market continues to evolve, outsourced medical billing can contribute to retention efforts in many ways.
Whether you’re looking for a partner to take over all of your medical billing or just part of it, your revenue cycle will benefit from the support. Most outsourced billing companies are equipped with substantial technical and process resources, so you get a team of billing experts at a fraction of what it would cost to keep it in-house. That typically results in a smoother revenue cycle due to less denied claims and more follow-ups on aging accounts.
With healthcare workers feeling the emotional strain of working during a pandemic, they are seeking employers that prepare for burnout. Investing in adequate staffing, technology, and reducing paperwork all play important roles; the right outsourced partner will be able to help with those aspects. ORI, for example, offers more than just coding and billing services. We can help you choose and onboard the right software for your practice’s unique needs, so your reporting is streamlined. Our team will also handle denials, rejections, and self-pay accounts, which frees up time for your front desk to focus on caring for patients.
Adequate pay has also become a hot topic in healthcare. By being properly reimbursed for your services, your practice can pay your staff and even support yearly raises as it helps your practice grow. It can also go towards improved software. Patients trust providers that have digital tools, good communication, and show they care. We’ll take care of the billing, so you can focus on supporting your staff.
An improved bottom line and patient experience are key indicators in a successful practice. You’ll attract top talent by showcasing the strengths of your practice online: through marketing, reviews, and your website. Try to focus on other attributes as well like how you stay current on technology and training opportunities.
When billing or administration tasks are becoming a hindrance for staff, it may be time to look into outsourcing. The experts at Outsource Receivables Inc. can complete your billing, evaluate your digital systems, and help improve your administrative tasks.