There are many reasons medical practices outsource their billing needs. Amongst them is the promise of higher returns, timelier reimbursements, and a lighter workload for existing staff members. However, there are many myths about medical billing outsourcing going around, and they may impact your decision when it comes to choosing the right agency for your needs. Read on to find out what they are.
Specialization Doesn’t Matter
Chances are, your practice has a specialization, whether that is anesthesia, ambulatory surgery, allergy medication, or something else. Do not make the mistake of thinking specialization doesn’t matter, as it can end up costing you. There are specific challenges to navigate in every specialty – for instance, optometrists can have trouble deciding whether to bill a patient’s general health insurance policy or their specialized vision policy. When it comes to these things, you will need a medical billing agency that is up to speed with the latest practices, codes, and billing regulations that concerns your specialty.
Only Big Practices Outsource
Another common myth is that small practices don’t have a need to outsource. That is untrue and largely depends on your individual needs – however, there are many perks of outsourcing you may not realize until later on. If you would like to expand your operations at some point in the future, it’s best to start outsourcing from the start.
As your practice expands, you can find your in-house team being swept off its feet with more responsibilities to handle. In addition, you will have to account for ongoing training as industrial regulations and national policies are constantly changing. By outsourcing from the start, you can ensure scalability as you expand your practice.
You Don’t Need Service Guarantees
It makes sense that before you engage the services of any billing agency, you find out more about their service guarantees. Some questions to ask include:
- What is the maximum time between charges entered and the guaranteed number of claims processed daily?
- Are any claims outsourced to a collection agency after a fixed number of days?
Always make sure that what the agency offers fits your needs and that their service guarantee will help your practice achieve better cash flow.
KR Billing Solutions Can Take Care of Your Medical Billing Needs from Start to Finish
If you are looking for a reliable medical billing agency to entrust your work to, turn to KR Billing Solutions today. All our team members are located onshore, which means they have a deep understanding of the local and national policies that apply to your specialty. We never outsource any of our work to offshore employees who may not have the relevant expertise that applies to your specific needs. In addition, we always take the time to carry out a thorough initial consultation before devising the best approach for your medical billing needs. We never adopt a one-size-fits-all solution as we want to help your practice run as smoothly as possible.
There are many reasons medical practices outsource their billing needs. Amongst them is the promise of higher returns, timelier reimbursements, and a lighter workload for existing staff members. However, there are many myths about medical billing outsourcing going around, and they may impact your decision when it comes to choosing the right agency for your needs. Read on to find out what they are.
Specialization Doesn’t Matter
Chances are, your practice has a specialization, whether that is anesthesia, ambulatory surgery, allergy medication, or something else. Do not make the mistake of thinking specialization doesn’t matter, as it can end up costing you. There are specific challenges to navigate in every specialty – for instance, optometrists can have trouble deciding whether to bill a patient’s general health insurance policy or their specialized vision policy. When it comes to these things, you will need a medical billing agency that is up to speed with the latest practices, codes, and billing regulations that concerns your specialty.
Only Big Practices Outsource
Another common myth is that small practices don’t have a need to outsource. That is untrue and largely depends on your individual needs – however, there are many perks of outsourcing you may not realize until later on. If you would like to expand your operations at some point in the future, it’s best to start outsourcing from the start.
As your practice expands, you can find your in-house team being swept off its feet with more responsibilities to handle. In addition, you will have to account for ongoing training as industrial regulations and national policies are constantly changing. By outsourcing from the start, you can ensure scalability as you expand your practice.
You Don’t Need Service Guarantees
It makes sense that before you engage the services of any billing agency, you find out more about their service guarantees. Some questions to ask include:
- What is the maximum time between charges entered and the guaranteed number of claims processed daily?
- Are any claims outsourced to a collection agency after a fixed number of days?
Always make sure that what the agency offers fits your needs and that their service guarantee will help your practice achieve better cash flow.
KR Billing Solutions Can Take Care of Your Medical Billing Needs from Start to Finish
If you are looking for a reliable medical billing agency to entrust your work to, turn to KR Billing Solutions today. All our team members are located onshore, which means they have a deep understanding of the local and national policies that apply to your specialty. We never outsource any of our work to offshore employees who may not have the relevant expertise that applies to your specific needs. In addition, we always take the time to carry out a thorough initial consultation before devising the best approach for your medical billing needs. We never adopt a one-size-fits-all solution as we want to help your practice run as smoothly as possible.
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