Why outsource your billing? This is a question many doctors consider during their practice. Many recognize the advantages of placing their billing and collections in the hands of trained, experienced, and dedicated professionals. They trust their financial health to a “specialist.”
While no individual aspect of billing and collections stands out as the most important or vital, there are a number of pieces that fit together to complete the puzzle. What will you gain by outsourcing billing and collections to Medical Management and Billing Solutions?
Let’s get the most obvious question out of the way first: What can Medical Management and Billing Solutions do for your bottom line?
Medical Management and Billing Solutions has increased revenue for every client contracted with us. Actually, we will not take on a practice if we are not absolutely certain we can do a better job than they can in house, or with their current billing company.
The increase in revenue for our clients is attributed to several factors:
- Proper coding results in payment rather than rejection and eliminates the need for and delay of following up.
- Timely filing and response to additional information requests speeds up payment.
- Sending monthly patient statements, and working with patients to collect their portion of the bill reduces bad debt write offs and sending accounts to collections.
The bottom line is affected in other ways as well. Think about the salary and associated employee fees you will save (insurance, vacation/sick leave, workers comp and unemployment insurance, office equipment/furniture and supplies). Outsourcing will enable you to reduce staff or to use those resources on other duties.
- You will receive reimbursement faster and consistently. Medical Management and Billing Solutions will reduce, if not eliminate, the impact of the “feast or famine” syndrome practices experience—some months reimbursement is high—then other months it falls off. This is accomplished by accurate, timely filing, and persistent follow-up on accounts until payment is made.
- Medical Management and Billing Solutions will improve your business. Each month you will be provided reports that detail the financial health of your practice. And, here is another benefit of third party oversight and reporting: if there are inconsistencies in your finances, or the appearance of fraud, we will probably uncover them. That is one less hurdle you will have standing between you and treating your patients.
- Billing, follow up, and collections will not be affected when your office staff takes vacation or sick time.
- We mention this last; however, it is an important point to consider. Medical Management and Billing Solutions has established employee incentives that result in higher levels of performance. We invest in our employees by sharing profits which encourages them to be more productive. Their efforts are reflected in your bottom line.
“As always, you and your company are so professional and always willing to help and lend a helping hand. I appreciate you and all the ladies there. All of you have such patience and understanding.”