While it looks like to be a great agreement of both energy and dialogue for the need for innovation in healthcare, the step of care delivery model modification would assuredly not be characterized as hurried. Important decision that medical professionals must make is whether to outsource their billing or to keep it in-house. The important benefits of outsourcing the billing function are: more time to focus on the fundamental service of patient care, collections improvement, attention to individuals with expertise in the world of medical billing, and stability in your billing and revenue flow.

Keeping up-to-date with the constant changes in regulations, as well as the many convoluted insurance requirements is a very time consuming task. Physicians and their office staff have limited time throughout the day to handle their patient care demands. Outsourcing some functions will make it possible to focus on the things having higher priority and improving quality Having an internal billing department and staff adds to your practice overhead costs.

The financials being spent on software, hardware, training and other necessities can be useful in other areas of the practice. on the other hand skilled medical billers can get higher salaries than receptionists and assistants A medical billing service provides billing and accounts receivable management services to physician practices. They are experts in CPT coding, medical billing, as well as accounts receivable management.

Hiring expertise in-house can be more expensive rather than selecting a right medical billing service These service providers have the resources to keep up-to-date with the changing regulations and insurance requirements since this is their core service, just as patient care is the core service of a medical practice. The relationship of medical billing companies with the insurance companies can also result in many benefits Most of the time to resolve a claim successfully is more about who you know as against to being right.

When billing is done in-house, it is probable that several times during the year billing may have to be delayed for a few days due to vacation, sick time, or staff turnover.

This can affect the revenue process in a negative way and can cause the cash flow problems too When a medical billing service is doing the billing, the chance of interrupting the revenue stream is significantly less because you have access to a pool of well-trained billers and do not have to depend on one or two internal staff members. Even with all of these benefits, it is not always in a practice’s best interest to outsource the billing function. There are some negatives to outsourcing which need to be considered. The managerial control over the operations are lost while outsourcing the billing because the operations and no longer overseen.