There is no denying that you need to stay on top of processing claims to ensure that your business is being adequately reimbursed. Yet, claim management has the tendency to be tricky. In fact, one in every 10 medical claims is at risk of being denied!
If you are finding yourself with a stack full of unprocessed or denied claims, do not worry. There is a solution. We may be a little biased, but we believe the secret to claim processing success is outsourcing your medical billing. Here are a few reasons why we think so.
Outsourcing Your Medical Billing
Partner with specialists highly trained in claim management. Engaging a medical billing team means you will be gaining access to a group of people who are experts in all of the ins and outs of revenue cycle management and fully dedicated to your practice making a profit. Each payment a biller posts for you will be put through a rigorous process to ensure accuracy. When you work with PMB, our team will also partner with your staff directly and provide training when necessary.
Maintain consistency in your revenue cycle. Managing billing within your own office can easily become a challenge as a result of varying experience levels and staff changes. A medical billing company’s number one goal is to get your claims processed accurately and as fast as possible. PMB’s team will also work with the management software you have been using to make it easier on your staff, avoiding the need to learn a whole new system. Having a team like this working for you will turn your revenue cycle into a well-oiled machine.
Acquire highly qualified professionals with little expense to you. A reliable billing service operates at a relatively low cost based upon the number of successful claims that are processed. With the help of a medical billing service, you are sure to bring in higher collection percentages which will inevitably far exceed those expenses On top that of that, you are handing over a task that will allow you to focus your time and energies elsewhere so you can work smarter, not harder.
Focus your energies where they are most needed. You undoubtedly already have a full workload on a daily basis, making claims an even larger headache. Billing in-house requires a great deal of time and focus and should not be something you have to juggle along with other tasks. Using a billing service frees up all of that time so you can carry out your regular duties more efficiently.
Focus More Time On Patient-Centric Tasks
You may worry that partnering with a billing service is an expense your practice cannot afford if you are already struggling to keep finances in line. A good billing service will ensure that you are not sending out any claims incorrectly and will only charge a small percentage of the money that comes back from it.
The process is geared toward providing you with the highest reimbursement possible and reducing your cycle time so you are receiving more money, faster. The secret to successfully processing claims is a billing service because everyone is interested in the same goal — collecting more profit for your practice! Do you have questions about your current revenue cycle management process,? Contact us here. Our experts are standing by!