Medical Billing Services outsourcing Pros and Cons

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Medical Billing Services Outsourcing Pros and
Cons
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Medical Billing Services outsourcing Pros and
Cons

• Medical billing service can be challenging for
  small medical practices. It depends on the
  medical practitioners whether to outsource
  medical billing service or they can maintain an
  in-house team for the same. There is a huge
  difference in outsourcing and maintaining
  in-house team.

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Pros of outsourcing medical billing service
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Outsourcing medical billing service allows more
focus on patient care

• When we do core part of our business, we know it
  yields excellent result. Thats what this point
  emphasizes to tell. For a medical practitioner
  primary job is to focus on patient care hence
  when other worries such as medical billing,
  coding, risk management and all are outsourced to
  experts even those job will yield perfect
  results by making our job easy.

5
Outsourcing reduces billing errors

• Outsourced billing services are handled by
  experts. There is very less chance of mistakes
  occurring as it is handles by the experienced
  professionals, who are very well trained for the
  same and whose primary job is to take care of
  billing which comes out with less errors and
  standard output.

6
Outsourcing saves time

• To handle medical billing service a expertise
  team has to be maintained with the required
  software and hardware systems. Also it consumes
  most of the medical practitioner time if they
  involve in it. Which makes little cozy to handle
  things. When it is outsourced everything from
  tiny to large issues will be taken care by
  outsourced agency.

7
Outsourcing Improves Cash flow

• Everything related to billing will be sorted out
  as soon as possible by the outsourced agency
  which makes the faster process. Through which
  claims and reimbursements happens on-time without
  delays, which turn improves the cash flow. Hence
  it is always advisable to go with outsourcing.

8
Outsourcing improves patient satisfaction

• Patient care can be well taken when medical
  practitioner work is not disturbed by any other
  jobs such as focusing on medical billing claims,
  risk management etc., which makes time consuming
  and disturbed by primary work, hence by
  outsourcing focus on patient care increases by
  which it improves the patient satisfaction.

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Cons of outsourcing medical billing service
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No control over employees

• When a process is outsourced, everything related
  to that job will be under outsourced agency which
  makes medical practitioner to receive only
  results. They cannot have control over employees
  of medical billing and to get timely updates on
  the work.

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Risks to patient satisfaction

• When a proper billing claim has not happened, or
  if they face any error in processing delayed
  situation we will face. which makes the process
  slower resulting in patient satisfaction risk.
  Hence outsourcing sometimes is not suitable.

12
HIPAA privacy and security breaches

• The trusting factor plays a role here. When an
  service is outsourced, agreements on security
  breaches has to be maintained. HIPAA has a
  privacy concerns in medical billing which has to
  be followed by all the medical billing companies
  to make sure security is not breached.

13
Possible hidden costs

• There can be chance of hidden costs for the
  service which is not mentioned during agreement
  or quotation time. Which results in irregular
  cash-flow and cash deductions. This situation we
  may not face if we maintain a in-house team of
  medical billers.

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No flexibility

• As employees and process are not under the
  medical practitioners , flexibility issues arises
  as medical practitioners should always depend on
  the agency for all the process and they may not
  time bound. Time, process, and employee
  flexibility issues they have face on outsourced
  service

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To wrap up

• Outsourced medical billing service has its own
  pros and cons when it compared to in-house
  medical billing system. Small medical practices
  cannot afford to have a in-house team for medical
  billing. Hence, it is advisable based on the
  requirement and capability of medical practices
  can choose to be to go with outsourcing medical
  billing service.