Top 5 Reasons To Outsource Medical Billing Management In 2023

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2. Did you know? According to an American Hospitals Association report in 2019, uncompensated hospital care costs exceeded $620 billion. Failures in claims processing, billing, payments, and bad debt collection cost healthcare providers $300 billion annually. As per the Mckinsey article, 99% of medical bills over $3000 were not paid in full. According to Bloomberg, bankruptcies in the healthcare sector tripled in 2017. Eight hospitals declared bankruptcy in the first three quarters of 2018, and nine others closed their doors. These statistics highlight the major issue confronting US healthcare providers today, i.e., revenue erosion. Many factors are responsible for this problem. The complexity of regulations, the fragmented nature of the US healthcare system, and billing inefficiencies are three major ones. We can only do a little about the first two, but we can and must work on the third. Let’s discuss reasons to outsource medical billing management in 2023. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ HTTPS://WWW.247MEDICALBILLINGSERVICES.COM

3. The best alternative to deal with such a scenario is outsourcing medical billing services to the experts to reap the following benefits:  Efficient Workflows  Scalability of Services  Highly Integrated Electronic Health Records (EHR)  Access to Expert Consulting  Fewer Medical Billing Errors HTTPS://WWW.24MEDICALBILLINGSERVICES.COM/

4. According to a case study published in 2019, global medical billing outsourcing could reach $449,623.8 million by 2023, with a 12.3% annual growth rate. In short, medical billing outsourcing businesses are about to explode. Although outsourcing medical billing is not a novel concept, healthcare facilities and providers need help deciding whether to outsource medical billing management processes. The primary source of concern is the risk of entrusting their billing process to the wrong hands, along with the daunting task of locating the best medical billing company. So, why worry when the expert team of 24/7 Medical Billing Services is in place for your assistance? Book a free consultation appointment with the team right now. HTTPS:// HTTPS://WWW.247MEDICALBILLINGSERVICES.COM WWW.247MEDICALBILLINGSERVICES.COM/ /

5. We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses. HTTPS:// HTTPS://WWW.247MEDICALBILLINGSERVICES.COM WWW.247MEDICALBILLINGSERVICES.COM/ /

6. Media Contact: 24/7 Medical Billing Services Georgia 3001 Greenfield Drive, Marietta GA 30068 Ohio 28405 Osborn Road, Cleveland, OH 44140 Texas 2028 E Ben White Blvd, #240-1030 Austin TX, 78741 Delaware 16192 Coastal Highway, Lewes, Delaware 19958, United States Phone no / Fax : +1 888-502-0537 Email us: info@247medicalbillingservices.com HTTPS:// HTTPS://WWW.247MEDICALBILLINGSERVICES.COM WWW.247MEDICALBILLINGSERVICES.COM/ /