Tuesday 7 August 2018

Outsourced Medical Billing: Maximizing Revenue and Efficiency

Medical billing is one of the biggest expenses hospitals and private practices have to deal with. The process is long and complicated—and it takes a lot of time and resources that could be better used elsewhere. In many cases, outsourcing your billing functions is more practical and prudent in the long run. By hiring an overseas medical billing company, you can improve your clinic or your hospital’s efficiency and ultimately increase is revenue and profitability.

Some of the most seasoned, trusted, and reliable offshore medical billing companies call India their home, but they have customer support offices in the US so you always get real-time support. You might be discouraged by the obvious time difference between the US and India, but when it comes to processing medical billing statements, the 12-hour difference works in your favor. While you sleep at night, they are already processing the billing and claims that will be approved as soon as the offices in United States open the following day. This means you have a day’s worth of head start, which results in shorter revenue cycles and increases your cash reserves.

Switching from in-house billing to outsourcing is easier than you might think. There is virtually no adjustment period because the best outsourced medical billing providers can operate dozens of medical billing software. They can readily adapt to your system whether you are using Medtron, Medisoft, Lytec, GE Healthcare, Intellisoft, Ingenix, CureMD, Greenway, Raintree, Ultra, or some other platform. They also have experts in over 25 medical specialties. When you hire any outsource medical billing company with over fifteen years of experience, you can rest assured that your claims and invoices are managed properly. You can finally focus on your patients and taking care of them because you never have to worry about medical billing calculations and denial management. Be sure to choose a company that is ISO certified and HIPAA compliant. The best providers of outsourced medical billing are also members of the HBMA or the Healthcare Business Management Association.

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