In-house vs Outsourced Anesthesia Billing

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In-House vs. Outsourced Anesthesia Billing

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INTRODUCTION
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• Medical billing and coding is the meticulous
  process of tracking and handling the medical
  claims efficiently between the providers and the
  payers to ensure the provider receives full
  reimbursement for the service rendered.
• This signifies the importance of the medical
  billing process for any practice to keep their
  business running smoothly and successfully.
• Every medical procedure differs by its scope and
  complexity.
• Similarly, medical billing and coding processes
  and guidelines of billing differ by each
  specialty and require a specific team of skilled
  professionals to handle them productively.

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• Anesthesia billing has its own complexity and can
  be more problematic than other specialties as
  unlike other billing where the payment is
  processed by fee-for-service, Anesthesia claims
  are paid by units, time, and modifiers used.
• This makes the process even more complex for
  billing and coding, which also demands ample time
  of attention from the provider handling the
  billing process in- house. 
• Read through the below discussed points to help
  yourself decide whether to keep your anesthesia
  billing in-house or to outsource.

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In house Anesthesia Billing   

• Cons
• Tedious and Challenging
• As discussed above, in-house anesthesia billing
  requires close attention which is time-consuming
  for the provider added to the core job
  responsibility of patient care.
• While in-house billing gives complete control and
  accessibility, it also obligates you to take sole
  responsibility and liability of the entire
  billing process

• Comparatively Expensive 
• Handling billing process in-house is
  comparatively expensive.
• Practice and infrastructure cost, staffing,
  training, paying billers and coders, and covering
  employee benefits, investing in technology all
  put together will add up more than the cost
  of outsourcing your billing.

• Pros
• Retain Complete Control 
• Having hands-on-control over the billing process
  and the team handling them is looked upon as an
  added advantage by many providers.
• Working closely with experienced staff who have
  been with you and your business from scratch will
  boost your trust and comfort level in handling
  the process.

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In house Anesthesia Billing   

• Pros
• Process handled at close proximity 
• Just walking across your office floor to look
  into or discuss any minor or major issue if any,
  gives you close accessibility to your billing
  process and the team.
• It makes the execution of standard procedures
  and delegation of instructions much easier.

Pros ROI (Return on Investment)  Managing the
billing process in-house will ensure to keep the
finance under control, as even the trivial
process and matters are under the providers
purview for immediate attention and action, which
in-fact reduces unwanted expenses.
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Outsourced Anesthesia Billing

• Cons
• Less Control 
• Outsourcing medical billing means less direct
  control of the process.
• You no longer get the accessibility of your team
  by just walking across your office floor.
• You dont have to get to the bottom of every
  trivial matter or error and issues of every claim
  to understand them.
• However, if you have chosen your right partner
  you can rest assured that your billing is in the
  hands of experts in the medical billing field.

• Pros
• Cost-Effective 
• Whether you are a start-up or a small practice
  set up, outsourcing your billing services makes
  the best sense for your finance.
• A medical billing company provides you with an
  experienced billing team, thereby reducing your
  spending on a billing department.
• The outsourced company takes care of the staff
  training, software, and hardware requirement of
  the billing team. This ascertains
  that outsourcing medical billing help reduces the
  cost of operation and increases revenue..

• Hidden fee and Variable cost 
• Keeping in mind that most companys only goal is
  to make money, it is likely that your medical
  billing partner may imply hidden charges.
• To avoid getting trapped into any hidden charges,
  it is imperative while choosing your medical
  billing partner you need to be careful to check
  out their integrity and longevity along with
  their years of experience in the industry and
  choose a trustworthy medical billing partner.

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In house Anesthesia Billing   

• Pros
• Experienced Team 
• An outsourced medical billing company has
  experienced and trained anesthesia billers and
  coders handling your claims efficiently.
• The team with their vast experience and expertise
  handles every claim with the utmost care to
  ensure timely filing and reimbursement.
• An outsourced medical billing company is
  compliant with HIPAA to safeguard your PHI and
  privacy policy.

• Pros
• More focus on patient care 
• Being able to provide undivided attention to your
  core job patient care will help attract more
  patients and serve them better.
• Outsourcing your medical billing can help relieve
  yourself from the hassle of getting involved in
  the billing process resulting in more time to
  focus on patient care!.

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About MGSI

• MGSI is a 25yrs old national medical billing
  company based in Florida.
• MGSI caters its services to Solo and group
  practices for 25 specialties in multiple states
  across
• the country. MGSI is an A rated company with
  Better Business Bureau.
• It is HIPAA compliant ensuring high levels of
  patient data and network security. To learn more
  details, log on to www.mgsionline.com

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THANKYou

• Call Us 877-898-6474
• Visit Us www.mgsionline.com
• Mail Us info_at_mgsionline.com