Medical billing is one of the most time consuming and frustrating tasks that often diverts the attention of medical practitioners from their core expertise. Why? Because they often end up overseeing the billing themselves, or at the very least, being heavily involved in the process. This is like asking a Mathematician to perform the job of an Attorney when they do not have a legal background. It just does not make sense. It is also very time consuming because the healthcare industry is changing rapidly and medical billing procedures have changed too (i.e. the change of ICD-9 to ICD-10), which means there is a lot to keep up with.
A Medical billing company can drastically reduce your costs and speed up efficiency as well. For once, when you outsource your billing, then you have no longer need to invest in the latest billing equipment, nor do you have to pay hefty charges for the required software. Additionally, practices that own an in-house medical billing department spend a large percentage of their collections to meet the billing department expenses, whereas when you use a medical billing service provider, you pay much less on a per claim basis. And last but certainly not least, data safety is not an easy job, and to comply with HIPAA requirements takes careful consideration. Outsourced medical billing companies will ensure the data safety as part of the included service they provide.
If you are handling medical billing in-house, there is a possibility that your results and profitability will not stay consistent depending on the absence of staff or other changes occurring within the practice. That also means your cash flows could be disrupted. The medical billing company, on the other hand, has a set process in place for getting all these tasks done, which ensures the consistency of deliverables. Also, a medical billing company has its unique knowledge base and real-time information to make use of, given their place and breadth of experience in the industry.
Aptus Associates is a medical billing company that will work closely with you and your medical office staff to ensure that patient data is secure, virtual elimination of billing errors, and increase speed of payment. Please contact us to see how we can increase your bottom line while reducing work for your practice.