Why Hire a Medical Billing Company?

When it comes to the idea of outsourcing your medical billing, are you hesitant? Skeptical? Downright resistant?

Perfect! You should be. Here’s why:

This is your medical practice. You may have built it yourself, from the ground up. You may have grown it with a partner or group of practitioners. You may have managed it beautifully for sometime.

So your skepticism is not only normal, it’s healthy. If you don’t care enough to consider this carefully, who will?

The COVID-19 Billing Landscape

In the midst of the coronavirus pandemic, the question of whether or not to hire a medical billing company is more pressing than ever. Because the medical world is in a huge state of change.

For our clients, that shifting landscape has created a stronger-than-ever need for expert, reliable partners to help

  • Maintain consistent staffing during uncertain times
  • Help navigate rapid industry changes, such as those we’ve seen in telehealth over the past few months
  • Keep up with billing needs without an in-house billing staff
  • Manage medical billing remotely and seamlessly, with little to no additional effort on the part of the practice
  • Etc.

If you find yourself considering (or re-considering) the option of a billing partner during this time, then you may be asking one of the 5 key questions that we often hear from medical practitioners—and their staff members—as they’re exploring whether or not to partner with a medical billing firm.

And we think you should ask them, too.

But first, it’s worth considering your overall approach.

The Open-Minded Skeptic

Clearly, it’s important to carefully consider whether or not you should outsource your medical billing. But what does that careful consideration look like?

  • It means approaching the question thoughtfully, as much a healthy skeptic as an open-minded learner.
  • It means bringing all your most burning questions and concerns to the table.
  • It means asking for references and having frank discussions with other medical practitioners who have chosen this path.

Over the years, we’ve had many such conversations, and we’ve heard a lot of those burning questions and concerns.

At the same time, we’ve lived out the answers, hand-in-hand with our clients, every day. Clients who care deeply about their patients and businesses (which is what makes our work so meaningful).

These answers might help you decide if hiring a medical billing company is the right choice for your practice. And we want to help facilitate that.

So let’s dig in:

Why would I give up control of my medical billing?

Good question! Why would you?

A good medical billing company will function not as a separate entity shrouded in mystery, but as an extension of your own staff.

Which means that you’re still in charge of

  • What information you receive and when
  • The parameters by which you want to manage billing and collections
  • The standard of customer-service excellence that your patients expect

In short, you’re still in charge of everything.

Outsourcing your medical billing should never be a matter of relinquishing control. That’s why at AHS, our primary software is cloud-based and 100% visible to clients, who can view all the reporting data they want, whenever they want, with fully transparent access to their billing systems.

Your chosen firm should partner with you to ensure that you have exactly the level of visibility and involvement you desire.

I know my practice better than anyone. How could an outside company handle billing better than I can?

True, no one knows your practice like you do. But no one knows medical billing like we do.

Your mission revolves around excellence in medicine and patient service.

Your medical billing partner’s mission revolves around excellence in medical billing and client service.

Take AHS for example: it’s literally our job to be experts in the constantly shifting medical billing landscape. And believe us, it’s a full-time job!

So if we were practicing medicine and running a practice at the same time, we’d be much less equipped to

  • Keep up-to-date on current procedural terminology (CPT) and diagnosis coding changes
  • Follow up on unresolved or denied claims
  • Research and incorporate best practices for reimbursement according to industry standards
  • Manage credentialing in the ever-changing world of insurance plans
  • Etc.

By leaving all that complexity to a firm that lives and breathes medical billing, you free yourself up to focus on medicine and patient service. All while ensuring that your billing is expertly handled.

Your business will be the better for it.

How do I know if this is the right choice for my patients?

In our experience, hiring a medical billing firm is a wonderful thing to do for your patients.

For one, it frees you up to focus more completely on providing an excellent in-office patient experience. Which is ultimately why they walk in the door of your practice – and, hopefully, recommend it to others.

In addition, with a full-time staff of medical billing experts on call, your patients can often address their billing questions and concerns more efficiently than ever before.

Not to mention that it’s our job to get them the biggest bang for their buck by working with their insurance companies to ensure every deserved payment is received as appropriate.

Were your other clients concerned about moving billing away from their own staff? What have they found?

Absolutely. Many of them were.

True, some clients seek us out because they’re moving from one medical billing firm to another – already sold on the value, but in need of a better partner.

But others come to us when they’re exploring medical billing for the first time. Their staff has been handling it in the past, and they’re wondering

  1. How will the team function differently?
  2. How will the transition work?

Regarding the team:

Outside of the typical revenue changes (for the better!), many clients notice a positive staffing-related shift as well.

Let’s say you’re taking care of billing in-house, but the person in charge is out on vacation. Your billing stops for that week. Or what if an employee leaves? Or you hire someone new?

Staffing fluctuations can mean a pause in your medical claims getting processed – a lull in your billing. Bit of a bookkeeping challenge, isn’t it?

By joining forces with an outside firm, you’re essentially hiring a large staff of full-time medical billing professionals. Which means 100% coverage, 100% of the time. No billing blackouts.

Most importantly, the staff you’re hiring is completely focused on medical billing. So they’re experts in the entire process:

  • Inputting claims
  • Working with accounts receivables
  • Dealing with denials
  • Posting payments
  • And more

Regarding the transition:

Not everyone thinks about how this will go, but it’s very important.

We happen to think about it a lot, because we guide new clients through it on a regular basis. So our process is both born of experience and designed for customization.

We start by working with you and your staff to understand the status quo as well as your goals. Then, we guide you through a step-by-step transitional process, focusing on clear, consistent communication every step of the way.

What don’t I know?

Always a great question.

In the world of medical billing, there’s always so much going on in the background – so much that you could do – that it’s difficult to know where you might be missing out.

Medicine is an ever-evolving and innovative industry, and as a result, the world of medical coding changes on an ongoing basis. This has long been the case.

But in recent years, the health-insurance landscape has also been evolving at a rate that exceeds anything we’ve seen before.

So now more than ever, it’s essential to keep up on all the latest information – and make sure your own processes and standards are on track.

Trustworthy medical billing firms stay up-to-date on all these shifts, and we always keep our software cutting-edge.

The bottom line? A better outcome for your bottom line.

 

The best way to get all your questions answered is to get in touch today. We’re always happy to address your concerns and share information on this important topic.

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