In-House Billing Cons versus Pros of Outsourcing to a Billing Service
Updated: Jul 8, 2019
Have you looked into how a billing service might be right for you?
In-House Billing Cons:
Increased Cost: It’s generally known that the cost of employee, training and billing software is more expensive than hiring a 3rd Party billing service. Time invested in employees who later leave, software training and mistakes leading to further lost time, extra effort and added expense.
Slowed or Lost Profits: Various problems can be created through one's own billing staff. Embezzlement, general employee neglect with incomplete forms, ignored paperwork, discarded super bills and not following up on denials, to name a few. These often go unnoticed and are often detected too late to recover economically or efficiently, costing even more to resolve.
Employee Management: When employees get ill, take time off, go on vacation or just simply quit. Often these can be unanticipated or even happen while one or another are on vacation, their replacements fall into one of the above, it will halt all billing reducing the income flow for a period of time. For some it stops altogether.
Outsourced Billing Pros:
Better Overall Collection Rate: Because this is an expertise with no other distractions there tends to be a higher collection rate overall. Our collection rates far outperform standard industry collection rates.
Turnaround Time: With complete focus on your billing we can increase the speed in turnaround time from initial processing to insurance company payment. Time is not lost in mistakes, extra resubmissions, etc. Any errors are quickly found and corrected while feedback to office staff help improve efficiency in office processes.
Reduced Complexity: Because we’ve studied and work with insurance companies day in and day out the complexities are so well known that the usual pitfalls and problems medical offices face are already known and handled by the billing service. We keep up-to-date on any industry changes and adjust submissions and assist in the office process adjustments as well.
Budget certainty and ROI: With the known cost of a 3rd Party biller, the focus regained on delivering your medical services, your increase in delivery far outweighs the small percent a biller gets paid. We only charge a small percentage on what we collect for you making it a win-win every time. Accurate processing, higher collections through enhanced billing will have you coming out ahead every time.
While there are lazy billers out there, large billing companies where you may find that at times you’re just another account, with Exceptional Billing we only take on a few accounts at any given time so as to maximize service and minimize distraction.
We are a small boutique billing service and are interested in having you as part of our family.
For a free consultation, give us a call now at: (727) 275-0301!
Yours in health,
Zeb is a billing specialist with over 20 years of expertise and success in office management: consulting in quality control, customer service, employee training and development, and project management. He brings his experience to the Exceptional Billing team, helping to ensure our clients get the fastest and highest quality of service possible.
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