Mind Your Business
Should you outsource billing operations, or keep them in house?
by Kyle Fleischmann PT, MS, OCS
A common dilemma facing practice owners is whether to keep their billing and claims processing in-house, or to outsource these important operations to an outside agency.
It's often a complex decision because you must factor in the abilities and experience of your staff, the time associated with providing accurate and efficient billing and claims management, and the costs that accompany outsourcing.
But perhaps the toughest part of handing off these critical functions is letting go, and delegating such an important component of the business you've worked so hard to build. Taking a close look at the strengths of your staff and structure of the practice can help you decide if it's in your best interest to keep these accounting measures under your own roof, or send them to an outside party.
Factoring Time and Costs of Claims
Software programs for health care claims management have made the process faster and less complex. Individual claims can now be processed and submitted within minutes (printed) or seconds (electronically).
New software is smarter, too. Programs often have some level of "code-scrubbing" prior to submission, which checks for coding errors. This reduces the likelihood of denied claims and allows for more rapid collections. Sometimes you don't even...(continued)
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Kyle Fleischmann is a principal and co-founder of Vantage Clinical Solutions Inc., a practice management and consulting firm located in Bend, Oregon. Fleischmann can be reached at kyle@vantageclinicalsolutions.com.