Move over eight hour workdays! It is the age of 24/7. Medical practices across the US are fast realizing the benefits of outsourcing medical billing. Every survey over the last few years points at just one thing, the advantages of working with an off-site biller. In the prevailing tough financial climate, most medical practices find outsourcing a smart choice.
The MGMA states that operational costs of medical practices have shot up to 7.4% where earnings rose just a mere 1.8%. The writing is on the wall. Maintaining an in-house biller is no longer feasible unless the practice is raking in dollars. For the rest of the medical practitioners struggling out there, outsourcing could well be the answer.
Here is the presentation to get clear ideas on
Why billing in-house in no longer a good idea?!
1. Are you a healthcare provider who thinks outsourcing is a dirty word ?
2. Someone who feels scared of working with faceless names ?
3. A recent study by MGMA will set you thinking…
4. According to the research carried out by Medical Group Management Association outsourcing billing proved to be highly beneficial for medical practices.
5. 73% of practices reduced their days in AR and increased revenue.
6. 59% of practices saw a reduction in denied claims.
7. 59% of practices said they now had improved access to reporting and analytical tools.
8. Medical practices spend almost 15% of their collections on billing alone.
9. Compare that to the 7% a billing company charges and you’ll know why it makes sense to outsource.
10. The fact that most off site firms work 24/7 saves medical practices the 16 hours they usually lose in a typical 8 hour workday.
11. This is no groundbreaking revelation but now it is more clearer than ever that an in-house billing team is not going to be as effective as an outsourced one.
12. To ramp up your medical billing process call BillingParadise @ 1 888 571 9069.
