Is your medical practice or healthcare center struggling to get paid for services rendered? Sometimes, the reasons for stagnant pay is unpaid invoices, but most of the time, the issue is with getting those invoices created in the first place. Medical offices and healthcare centers have an overwhelming amount of medical billing accounting that needs completed. Keeping up with medical billing is a full-time job that often gets relegated to office staff tasked with many responsibilities. Hiring a medical billing company is the best way to get invoices out quicker and reimbursed easier.
What Is Medical Accounting?
It’s important for medical offices to define what medical billing is, so that a clear line of responsibility can be drawn. In a nutshell, medical billing is the following:
• Insurance claims processing
• Creating bills for services rendered
• Following up with unpaid bills
• Zeroing out accounts that have been paid in full
• Answering patients’ questions about billing
Ideally, medical billing addresses all financial aspects of a medical practice. This allows for the nurses, physicians, and other clinical staff to focus on patient care. It also allows for a practice that runs efficiently.
Hiring an Outside Medical Billing Company
Medical records are protected by health privacy laws and, therefore, often leave medical offices struggling with the decision to outsource this service. Should your medical practice outsource medical accounting services?
Small medical offices might be able to get by with keeping medical billing practices within the practice. However, today’s medical practices tend to be rather large and deal with billing for multiple doctors and multiple services. In cases like these, it’s almost always a good idea to hire independent, outside medical billing services.
Practices that hire an independent billing company achieve the following advantages:
• Peace of mind that billing is done correctly
• Reduction of customer complaints
• Faster payment and invoice clearing
Medical practices can’t do it all. When a patient walks through the door of a medical office or healthcare center, they expect all the attention to be on their well-being. They don’t need staff to be distracted by billing. They certainly don’t need unqualified staff billing insurance companies and billing incorrectly.
If you operate a medical practice and are struggling with billing, ease the burden and hire an outside medical billing accounting services.