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3 Ways Outsourcing Can Reduce Medical Billing Mistakes

Medical billing is a very complex and grueling task. With thousands of medical codes, hundreds of patients, and multiple insurance companies, it seems nearly impossible for a practice to take on all of the medical billing.

Much of a practice’s time is controlled by the medical billing process, but it doesn’t have to be. If you choose to outsource your medical billing, the amount of time on hand increases and mistakes decrease. Let’s take a look at how outsourcing can reduce billing errors.

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#1: Understanding New Billing Rules

Physicians know that medical billing rules and procedures change all the time. These new rules and regulations require consistent time and money spent towards educating staff and obtaining new software. Gaining any kind of deep knowledge of these procedures is nearly impossible for a practice that has many other responsibilities to worry about.

When you outsource your medical billing to a professional company, you are leaving the work to the professionals. It is the job of medical coders and billers to understand the new rules and regulations thoroughly, and leaving your billing in their hands ensures these rules get followed.

#2: Time Restraints

Practices everywhere are experiencing a major productivity loss. The reason? ICD-10. Everyone is so worried about coding incorrectly, that they are using a lot more time to double check themselves. This is great in the coding department, but it puts a tremendous amount of pressure on the medical billers. More time spent coding means that there is less time for billing. When medical billing is pinched for time, rushing occurs, and that’s when errors get made. Stop rushing and outsource your medical coding and billing to get the extra time you need!

#3: Unpaid Claims

Some medical billing errors have nothing to do with incorrect numbers or broken rules. Sometimes everything is perfect, but a practice is still losing money or waiting for it. If a practice is failing to follow up with unpaid claims, eventually they get swept under the rug. A big pile of unpaid claims results in a major revenue deficit.

If you outsource your medical billing, the billing company takes on that debt. Billing companies generally only charge a practice a percentage of what they are able to make for you. That means that their pay relies on fast collections. These companies will see to it that unpaid and denied claims become a thing of your past.