Why Outsourcing of Medical Coding and Billing is Beneficial

1. A Guide to Outsourced Medical Billing and Coding Services A perfect solution to Practice management needs Presented By Denise Miller

2. Topics Covered • Why Outsourcing? • Increased productivity • Complex nature of the task • Knowledge and expertise • Flexibility • Integration with your existing system • Cost effective

3. Why Outsourcing? • In today's world, a doctor or practitioner no longer simply treats illnesses or diseases but has to be involved in a plethora of administrative work to ensure that he gets paid for doing his or her real job of treating people. • The huge array of health insurance companies and their policies has made revenue cycle managementand billing an extremely important part of every doctor's practice, if only to ensure proper cash flow within the business. • While this may seem simple enough up front, the sheer number of forms and other factors that go into getting their claims often leaves the doctor with little time to do his or her real work, which is treating patients. • Hence, to reduce this burden and pressure on doctors, medical billing services have become extremely popular today.

4. Increased Productivity • Medicare claims processing or any other claims processing can seem simple but they are actually tedious and time consuming, which often leaves doctors with very little time to do their own work. • Most of the Cash Flow which is essential to sustain a Healthcare business is dependent on such claims and thus cannot be ignored at all. • Outsourcing will not only help ensure that you get it done on time but will also help you do what you love doing best.

5. Complex Nature of the Task • Medicare claims processing or any other claims processing can seem simple but they are actually tedious and time consuming. • If a doctor with no knowledge, himself files a claim, it could get REJECTED. • Which will also cost him/her millions of dollars due a single silly mistake. • However, in order to avoid such huge losses, it is always better to seek expert assistance and be assured of error free cash flow.

6. Knowledge & Expertise • Let it be benefits verification, Medicare claims processing or any other service that you require under coding and billing hiring people who are experts and knowledgeable in that regard is always your best bet. • Given that it is their chosen field of work, they will be abreast about the regular changes and other modifications that occur in the field, which will make it easier for you to ensure that your claims are cleared and payments are made on time.

7. Flexibility • Medical billing services are flexible. • That is what makes them unique. • Reason why, these service providers can actually offer you customized services and product to meet your need in the best possible way.

8. Integration with Existing Systems • They will surely take care about the integration of the software used for billing and coding as per your existing systems and standards. • In this manner, you need not to invest more on the excessive cost of new hardware and software.

9. Cost Effective • As discussed in earlier slide, the most important reason why you should opt for outsourced coding and billing is that these services are extremely cost effective. • But the scenario would be different if you wish to do your Billing and coding on your own. • Outsourcing is the best option to optfor in order to save time as well as money.

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