Outsource Medical Billing Services

Outsourcing has changed the face of many businesses including the medical industry. It allows a firm to outsource certain services that are essential for customer satisfaction and business to grow. The Medical industry is much more than just a business. It’s considered as a service. And that’s why it becomes extremely important for medical firms to outsource certain services including medical billing services so that they can focus more on patients rather than being invested in other things.

Why Outsource Medical Billing Services?

It’s simple. If you outsource medical billing services, it will help you save time and money and you will get more time to concentrate on your core business. There are other technical and business-centric reasons as well behind outsourcing medical billing services. To understand its importance, you should take a look at the business benefits of outsourcing medical billing services.

• Less Worry, More Business: The first and the foremost benefit of outsourcing medical billing is you do not need to worry about billing, insurance, claims submissions, reimbursements, medical codes, etc. Everything will be handled by medical billing experts and it would be completely transparent to you.
• Access to Specialists: When you outsource medical billing, it gives you access to specialists who are trained and highly experienced in the business to do the job on your behalf. You can stay assured of customers’ billing queries and other insurance related issues which directly lead to happy customers eventually boosting revenues.
• Boosts Revenue: Outsourcing medical billing services will also help you increase your revenues as you would not be spending on office infrastructure for medical billing staff and medical billing tools and software.
• No Hiring for Billing: A medical firm needs to spend a significant amount on medical billing staff. By outsourcing the billing services, it won’t need to hire any specialized staff for billing which can save a lot of time and costs.
• No Initial Cost: Outsourcing medical billing services require no capital investment such as purchasing medical billing software or any other equipment related to it. Also, you do not need to deal with the costly software upgrade and the costs that come along with it.
• Changing Regulations: Once you outsource medical billing services, another thing you do not need to deal with is constantly changing medical billing rules and regulations. Every change in the medical billing world will be managed by your outsourcing partner and eventually, it will save a lot of time for you to focus on your core business.

Things to take care while outsourcing Medical Billing Services

The companies dealing in medical billing services usually cover all the billing related queries but it’s professionally correct for a medical firm to verify the services provided by them. Some of the major things to look for:

• Billing Accuracy – Your outsourcing partner must have an excellent accuracy record in medical billing. You can talk to their previous or existing clients before outsourcing your medical billing services.
• Insurance Verification – Your outsourcing partner must perform pre-certification for surgeries, specific lab tests, and diagnostic tests. They must verify insurance eligibility before starting the claim process.
• Claims Submission: – It’s a crucial step from a customer’s point of view. Your outsourcing partner must bear the responsibility to make the entire process of claim submission and reimbursement error-free and hassle-free for customers. They should accept both manual and electronic claims submission.
• Medical Coding – Your outsourcing partner must be updated with regularly changing medical billing codes such as CPT and ICD-10 codes. The staff should be experienced and trained enough to handle the coding process with the utmost accuracy. They should also be trained in up-code/down-code the pre-coded bills.
• Insurance Follow-up – Again, from the customers’ point of view, it’s an extremely important step. Even in the cases of rejections, your outsourcing partner must rectify and resubmit the claim.

For better management, happy customers, and increased revenue, you should consider Capline Medical Billing Services.

Apart from all the benefits and reasons for outsourcing medical billing services, Capline Services also takes care of Payment Posting, Denial Management, Charge Entry, Patient Statement, Credit Balances, health care BPO services, etc. With our medical billing services, Capline Services are dedicated to reduce your overhead costs and revamp your revenues. The medical billing workflow followed by Capline Services begins with Pre-certification and verification. It’s followed by Patient Demographic entry, Charge entry, Claim submission, Payment posting, Denial management, A/R follow-up, and Reporting.