The complicated financial requirements in the healthcare industry have created revenue problems for many home health providers. Without a consistent process or the right approach to medical billing, you may be faced with financial difficulties trying to get paid consistently and on-time for your services.
Because the process can be an arduous task that every medical biller must stay on top of, we recommend that home health providers consider outsourcing the billing process so that you receive payment without complications.
The Benefits of Outsourcing Home Health Billing
Consider these seven benefits of outsourcing your medical billing.
- Eliminate Errors. Using a professional and organized billing system will help eliminate costly errors that can make it difficult for home health agencies to provide quality of care.
- Bring In Revenue. Using a medical billing service usually only requires paying a small percentage of the additional revenue that is collected through the service. Because medical billing agencies get paid when you get paid, they will work hard to ensure that your insurance claims and finances are accurately handled.
- Focus On What Matters. Using a service that is dedicated to just handling billing for your company will allow you to handle matters in a lump sum rather than hiring an individual that you would have to train, provide salary, and offer benefits.
- Experience No Technical Slip-ups. Companies that are focused on billing make it their business to thoroughly manage all potential financial issues. They will also know exactly what is necessary to adhere to requirements such as HIPAA.
- Get Organized. Using an outsourced billing system makes the billing experience easy and helps you predict cash flow. You will realize positive revenue without making things more difficult.
- Provide High-Quality Service. When you are not bogged down by medical billing challenges, you will be able to spend more energy on each patient’s experience. They will walk away feeling taken care of and you will have less to worry about.
- Talk about how we are constantly training and keeping up with current trends and rules and regulations which speaks to our expertise in this specific area.
Outsourcing Home Health Billing is a Smart Decision
The goal of your practice is to create a positive experience for your patients. Medical billing can be too much of a burden that impacts your ability to provide quality care.
Consider outsourcing your billing to ensure that your financials are organized, your patients receive the best care, and you receive the full amount of payment that is owed to you. The realization of increased revenue combined with decreased costs to your agency will lead to an overall higher net profitability.
Let a medical billing service such as Precision Medical Billing handle the details quickly and efficiently so you can run your agency. The cost of using our service is minuscule compared to (a) the cost of hiring and paying an employee and (b) the financial loss from not being paid for your services when trying to handle the billing yourself.
In fact, PMB has a new innovative service that is designed to drastically improve processes for home health agencies called “No Waiting Room.”
Our 23 years in the medical billing industry have proven to us that operating with a proactive approach minimizes the typical collection delays. Our team will work in partnership with you to quickly uncover critical inefficiencies and support the implementation of:
- Automated billing processes
- A reliable software solution
- Insurance verifications & Prior authorizations
- A user-friendly patient portal
- Document control management
- Education and support for your team
When you are ready to consider outsourcing your home health billings, contact our team to start a conversation about your specific practice.