Gary Reis, owner of A-Stat Medical Billing Management Inc., has seen his firm grow with the complexity of health care regulations as more care providers seek help with their revenue cycle management. Still, outsourcing does not make sense for all providers. For some, Gary Reis has found, keeping billing in-house remains the best remedy.
But for many more providers, outsourcing medical billing is the right course of action. Here are three reasons why that’s true:
1. Changing regulations – Because federal rules on coding and reimbursement are constantly changing under the Affordable Healthcare Act, personnel who perform billing functions must spend considerable time staying abreast of the changes. This can become increasingly difficult for someone who has other daily responsibilities as a care provider.
2. Cost – Complying with coding and reimbursement regulations can be costly for a care practice, but a medical billing firm can spread that cost out across its many clients. The technology needed includes a practice management and EMR system, and software to perform claim scrubbing, business intelligence reporting, and denial management tools.
3. Follow-up – A medical billing firm is better able to devote the necessary attention to following up with unpaid or underpaid claims, a major source of lost revenue from care providers.
Gary Reis, owner of A-Stat Medical Billing Management Inc., has seen his firm grow with the complexity of health care regulations as more care providers seek help with their revenue cycle management. Still, outsourcing does not make sense for all providers. For some, Gary Reis has found, keeping billing in-house remains the best remedy.
