Physician Billing Services vs. Outsourcing

1. Physician Billing Services vs. Outsourcing 360 Medical Billing Solutions

2. In-House Physician Billing Services vs. Outsourcing The nature of episodic patient visits within an emergency department & urgent care center creates special challenges for medical billing, reimbursement and cash flow. Cash flow can slow down considerably from patient eligibility verification, claims submission, sending statements to patients, billing insurance & troubleshooting coding issues that cause claims to be denied.

3. Downside of In-House Physician Billing Services • Billing operations can slow down – Whether an in-house billing staff is made up of one person or three, if someone is out of the office, the billing department can see a sharp decline in productivity. • Higher costs – While it may not be easy to budget for outsourcing, it may be less expensive than hiring an in-house billing staff. • More opportunity for liability –In-house billing can result in some liabilities for the company. If a doctor hires a biller who doesn’t perform accurately, they can end up with miss-billings or incorrect billings.

4. Disadvantages of Outsourcing Physician Billing Services • Budgeting can be more difficult– Many billing companies base their fees on how many claims are sent. So, if the provider is doing more business one month, they will be charged more. If they have a slow month or take some time off, the fees charged that month will be less. • The possibility of hidden fees – It’s always important to ask about extra fees prior to hiring a medical billing company. • Most medical billing companies are not specialists in meeting the unique needs of emergency and urgent care facilities – companies not accustomed to these specialty areas are likely to have more claims rejected, causing delays in reimbursement with associated cash flow issues.

5. Pros of Outsourcing Physician Billing Services • Consistency in billing – Not only will a medical billing company regularly send claims to insurance companies, they follow up on all unpaid & denied claims. • Regularity of billing – Bills and claims are sent regularly and on time through a medical billing company. • Improved billing operations – Medical billing companies routinely give a provider performance reports.

6. Why Choose 360 Medical Billing Solutions 360 Medical Billing Solutions are specialists in medical billing for emergency and urgent care groups. Besides specialty billing, we offer additional services including assistance with negotiating favorable managed care contracts, methods to account for all medical records generated, and providing detailed reports that assist in practice management.

7. Contact Us 360 Medical Billing Solutions 2000 N Classen Blvd. Suite 1300 Oklahoma City, OK Phone: (405) 607-1318 Toll Free: (866) 488-4558 F (405) 607-1326

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