The complexities of the current economic scenario aggravated by the constantly changing or evolving rules for insurance claims, as well as new policies promulgated by the HIPAA, have made it difficult for healthcare professionals and providers to optimize their workflow.
In line with this, several practices and medical institutions have already shifted from the traditional system of maintain billing and healthcare reimbursement facilities in-house and moved to external providers. Many have already gained from the benefits of outsourced billing services, allowing practices and institutions to focus fully in their core function – and that is to provide proper patient care.
Operational Problems Encountered with Traditional In-House Billing Systems
Before delving on how outsourced billing services can help optimize the healthcare workflow processes, one must first understand the pitfalls that are usually associated with the traditional in-house billing systems.
- Unless the medical institution is large enough to have an internal billing department that is solely focused on medical billing work, the practice will have the tendency to lose full control of the billing process as medical staff would be divided between rendering their core medical functions and performing administrative work. This increases security risks and the possibility of rejected reimbursement of claims due to erroneous data.
- Hiring your own medical billing personnel means an increase in overhead expenses plus the additional operational expenses incurred due to the required maintenance of a dedicated office, equipments and supplies. Other operational expenses include software upgrades, personnel training expenses, and employee benefits.
- The practice or institution should also ensure that their internal medical billing services are up-to-date with the latest government and insurance regulations, the condition of the financial marketplace, and new advances in technology. Failure to comply with these policies and trends would make it more difficult to maintain a profitable practice.
These and other problems associated with traditional medical billing services provided the deciding factor why practices and institutions opted to outsource to medical billing providers and reap the benefits of outsourced billing services.
How Can the Benefits of Outsourced Billing Services Optimize Operational Workflow?
The following discusses one of the main benefits of outsourced billing services, and especially focuses on how these providers help medical professionals and practices optimize their workflow processes.
- Medical billing providers have trained and expert staff in this field and utilizes the latest in billing tools, technology and software to make the process as efficient as possible. This allows a faster cycle time for claims reimbursement, which can be eventually translated as higher revenue.
- These medical billing service providers maintain special relationships with insurance companies on top of their proven and effective leveraging strategies allowing better and faster results from reimbursement claims.
- One of the most important benefits of outsourced billing services is the elimination of interruptions in the workflow process due to medical staff leaves, vacations and other workflow delays as all these aspects will be directly handled by the billing service provider.
- Patient inquiries and phone calls can disrupt the workflow and eat up valuable time however, these should still be address. Outsourced billing services can handle this function and more.
- Medical practitioners and staff are relieved of the responsibility of maintaining administrative staff which, although a critical aspect in the business, can drive them away from performing their core healthcare responsibilities. Given more time, they can now pace through their workflow in a more focused and relaxed atmosphere that is critical in this industry.
Medical practices and institutions who have gained much from the benefits of outsourced billing services have seen how this shift can affect a radical improvement in their bottom line. On top of that, these professionals are more successful and more effective in rendering proper healthcare and give value to their patients.