Medical billing outsourcing provides an avenue for providers to save valuable time, money, and effort. By using this practice, they’re able to focus on the work they love while outsourcing the more tedious aspects of the job.
Still, many providers and billing companies are hesitant to rely on outsourcing as a viable solution. If you’re considering using a healthcare BPO company for your medical billing needs, consider the following myths before making a final decision.
Outsourcing is Too Expensive
For many providers, the idea of outsourcing is more costly than feasible. However, the main purpose of medical billing outsourcers is to increase efficiency. So, while it may seem expensive initially, a provider’s total revenue will see a noticeable increase.
Only In-House Medical Billers Are Necessary
While it may seem best practice to only rely on in-house staff, consider the cost of maintaining these employees. There are factors to reflect on such as interviewing, sick days, turnover, and the space needed to house staff members. Most outsourcing companies offer a variable rate that fluctuates depending on the success of your company.
Outsourcing Takes Too Much Time
Medical billing on its own can be a tedious, time-consuming process, especially if errors are made. So, it would make sense that providers would be hesitant to pass those responsibilities on to a third party. However, outsourcing these duties to certified medical coders will free up time for providers, speed up cashflow, and lead to more instances of successful collections.
Only Well-Established Businesses Should Outsource
Providers new to the practice may shy away from outsourcing as they believe it’s for businesses that are more well-established. There’s much to be gained from finding a reliable medical outsourcing company in the early stages instead of later down the road. By outsourcing the complicated tasks associated with medical billing, providers can focus on building a stellar reputation and providing the best quality care for their patients.
These aren’t the only points to consider when seeking a Healthcare BPO company to outsource your medical billing needs. Contact GeBBS Healthcare Solutions to schedule your consultation today!
