The doors of busy medical practices must remain open while they provide high levels of patient care.
Medical billing can take up a lot of your time. Furthermore, finding and training people to handle this essential task can take time and effort. Furthermore, slow or incorrectly processed claims can negatively affect revenue for your practice.
For this reason, many practices hire third-party National Medical Billing Services companies.
What Are Medical Billing Services?
Medical billing services save your staff time by processing, submitting, and following up on insurance claims.
Their specially trained staff is familiar with individual payers and can work within their policies to extract higher payments quickly.
Your medical billing company can also pursue delinquent accounts and follow up on rejected claims.
Why Outsource Medical Billing To Medical Practices?
Medical billing outsourcing companies offer the following benefits:
• Improved workflow for office staff at the practices
• Streamlining payment policies for different payers and alleviating confusion
• Errors in submissions are reduced
• Faster processing of claims
• Improvements in revenue cycle management in healthcare
• Expertise from trained industry professionals
• A reduction in the cost per patient
• Profitability improved
• The timely processing of claims increases patient satisfaction.
Additionally, third-party medical billing companies can reduce overall stress levels associated with billing complications for practices.
What Is The Cost Of Medical Billing Services?
Medical billing services in Nebraska may charge a setup fee, a collection percentage, and a monthly fee based on the number of claims submitted. As a result, there is a great deal of variation between companies in terms of costs.
Find out more about the pricing model of your potential service provider. Depending on the size of your business, you may have different options. For example, processing claims per claim may be more affordable if you're a small practice with fewer claims.
However, many practices prefer the collection percentage model, in which a payment must first be made to your practice for the medical billing company to get paid.
Would you like to know more about our medical billing services? Then, get in touch with us today!