When it comes to running a successful medical clinic, efficient billing procedures are a high priority. If systems start to fail, it may be time to reevaluate whether in-house billing is the best for your office. Some signs include:
Your revenue cycle has been suffering due to a high amount of denied or unpaid claims.
An increase in denied claims could be a reflection on the clinic’s overall process, since essential information comes from staff, or the billers’ expertise. It’s important to pinpoint the cause first to then determine what the solution should be. You may not have accurate reports and are left with uncertainty. In terms of unpaid claims, it often means the billing staff has not kept track of claim status. An improved management software, for example, will help them know when claims are close to being late or have officially crossed the due date threshold.
Improper work has opened your clinic up to liabilities.
Healthcare requires a large number of standards and procedures to properly safeguard data, and patients need to trust your medical clinic will protect their sensitive information. Software used by medical clinics should follow HIPPA regulations, and they should be properly secured. Health data has become a target for hackers, so the proper steps should be taken. The right outsourced medical billing company can also help you sort out your administrative processes to help with this need.
It would benefit your budget to outsource rather than pay salaries, employee benefits, and training.
Take a look at your revenue from the last year. A thorough evaluation will be able to pinpoint some areas where costs have increased or revenue has decreased. If connected to your billing team, such as an increase in denied claims, then it may be time to consider outsourcing. Instead of having to pay salaries in slow times for your clinic, you will pay hourly rates to reflect on the work needed.
Not enough time for patient engagement.
A disorganized front staff concerned with billing issues and not serving the patients can lead to a decrease in appointments. Patients are already prone to be untrusting of healthcare providers, so they want to feel cared for when visiting your clinic. That means answering the phone, offering an easy scheduling system, and asking for the correct insurance information. Contacting the patient multiple times to gather information will leave a bad impression.
Outsource Receivables Inc. has experience serving specialty clinics across the country, and we have offices in Chicago, Minneapolis, and Boston. Give us a call to see how our team of billing experts can improve your billing process and revenue cycle.